1. What makes your country attractive to investors?
South Africa has entered a phase of stronger economic growth, underpinned by an impressive track record of political and macro-economic stability, policy certainty and greatly reduced currency volatility. The country, long attractive from an emerging market portfolio perspective, has more recently begun to feature on the radar screen from a FDI perspective as well.
2. What are the economic prospects for your country over the next three to five years?
They are broadly favourable, barring any sudden exogenous shocks. South Africa has begun to reap the rewards of sustained fiscal and policy discipline, and the recent strong consumer resurgence is expected to be accompanied by stronger levels of domestic and inward investment, to sustain growth around the 4% mark.
3. How do you foresee the financial sector in your country changing?
The financial sector will continue to be driven by a number of diverse influences: sector-specific considerations, such as those represented by black economic empowerment, further consolidation, increased international bank participation, increased competition and official policy-driven considerations such as those represented by continued focus on the ‘unbanked’ segments of the population, the emergence of new credit providers and the requirements of the financial service charter. Underpinning these will be a favourable economic climate and a supportive equity market cycle.
4. What role will your bank play in your country’s future development?
As an organisation whose roots are proudly South African, we remain fully committed to the ongoing development of the many different, niched spheres in which we operate. By continuing to build a sustainable business, by growing and developing our intellectual capital, by bringing our entrepreneurial expertise to bear in the field of black economic empowerment, by bringing a strategic focus to our many diverse corporate social investment initiatives and by maintaining an honest dialogue with all our stakeholders, we hope to continue to play a leading role in the financial sector, as well as in the broader economy.
