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Africa remains a critical contributor to global growth
SBGroup
Community Coordinator

By David Munro, Chief Executive of Corporate & Investment Banking at Standard Bank Group

Africa Investor's Conference (AIC)- London, England

 

“Growth on the continent is only possible with visionaries who have also recognised the potential of the great continent of Africa that we all call home.”- David Munro, Chief Executive of Corporate & Investment Banking at Standard Bank Group.“Growth on the continent is only possible with visionaries who have also recognised the potential of the great continent of Africa that we all call home.”- David Munro, Chief Executive of Corporate & Investment Banking at Standard Bank Group.Over the last two decades, Africa has remained resilient through a number of global crises and its overreliance on Western economic relations has shifted to more inclusive trade and investment regimes, thereby elevating the continent’s long term prospects and lowering its dependency on any single region. Indeed, African markets may now present an even more compelling alternative investment proposition than in the past.

 

Nevertheless, it must be acknowledged that Africa has been through its own tumultuous period since last year’s Africa Investors Conference, with continuing commodity price depression, increasingly restrictive monetary policy and political uncertainty in a number of key markets having a direct effect on business.

 

Despite this, we remain resolute that Africa’s potential remains indisputable and we continue to support our clients through the tough times. It’s important to remember that even in the much slower-growing and more volatile world that has emerged from the Great Recession, Africa is still the second-fastest growing region.

 

Sub-Saharan Africa as a whole retains its capacity for rapid, sustainable, job-creating growth. While growth in the region is expected to remain weak this year, at 3%, it is forecast to pick up to 4% in 2017 and 4.5% in 2018, helped by a rebound in commodity price and by greater economic diversification.

 

Most fundamentally, Africa’s development indicators – health, education, connectivity, governance - continue to improve. 17 of Africa’s 52 countries have already reached middle or high levels of development. The middle class is growing, the consumer base is widening, and the demand for financial services is growing even faster. This is coupled with continued investment in infrastructure and transport, greater regional integration and intra-regional trade and abundant natural resources. 

 

Growth on the continent is only possible with visionaries who have also recognised the potential of the great continent of Africa that we all call home. At last year’s AIC conference, people spoke about growing aggressively across sub-Saharan Africa, realising your ambitions and identifying opportunities to build both your businesses and the communities that develop as a result.

 

Standard Bank Group sees our purpose as being ‘Africa is our home, we drive her growth’, and it is a privilege to partner you on these journeys. The African Investors Conference is a key part of our ability to do this, bringing together an important group of institutions who will be instrumental in driving the continued growth on the continent. Now in its 6th year, we have policy makers from 5 key markets, 42 African corporates, and almost a hundred equity and fixed income investment houses.

 

Read more on how we remain #CommittedtoAfrica.