This article was written and published by By Zaid Moola, Deputy Head Global Markets, Standard Bank Corporate and Investment Banking.
Often overlooked among the areas that can provide avenues of growth and collaboration, are our vibrant African Markets.
The advent of the African Continental Free Trade Area (AfCFTA) in 2018 and ratification across 48 countries on the continent has undoubtedly given impetus to additional growth paths. The World Bank estimates that the agreement can potentially increase the continent’s income by $450 billion in just over a decade and increase intra-African exports by more than 81%. The AfCFTA also shows an estimated $3.4 trillion infrastructure investment opportunity if successful, with sea and air freight volumes expected to double with the implementation.
Given our footprint across 20 African countries and 163-year heritage, we also know that bold talk must always be matched with action. In March of this year, we will host our inaugural African Markets Conference (AMC) where we will bring together a mix of policy makers, business leaders, financiers, and government representatives from the continent to chart ways of maximising on our existing ties.
We are confident that this inaugural AMC will be a call to action to increase intracontinental trade, improve the ease of transacting on the continent and showcase the vast investment opportunities on the continent which have traditionally been areas of concern.
This is a seminal year for South Africa and the continent as the country takes on the Presidency of the G20 and hosts the annual summit. As Africa’s largest bank by assets, Standard Bank is taking an active role in the B20 (the business conference on the sidelines of the G20). Through our joint participation we will work to contribute to making the Presidency a resounding success.
Our reach and role on the continent make it imperative that we prioritise the strategic leveraging of facilities to continue to build this continent that we call home. We look forward to continuing to drive the journey towards sustainable growth through the course of 2025 and beyond.
The full article is available on the Standard Bank website.
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