Johannesburg, 11 November 2020: The JSE and its co-sponsors, Standard Bank, Old Mutual and UBS, will virtually host the 8th annual South Africa Tomorrow Investor conference on the 16th – 20th November 2020. The conference aims to showcase South African institutions and listed companies to the US investor community.
Finance Minister Tito Mboweni, Public Enterprises Minister Pravin Gordhan and South African Reserve Bank Governor Lesetja Kganyago will come together with prominent South African business leaders to engage investors on the country’s prospects, commitments and opportunities of growth.
The event will complement the objectives of the President’s annual South Africa Investment Conference, taking place on 17 and 18 November 2020, with a shared vision and objective of attracting foreign investment into the country.
The South Africa Tomorrow conference follows South African President Cyril Ramaphosa’s recently unveiled economic recovery plan for the country which prioritises structural reforms and infrastructure development, among other growth levers. Importantly, the plan envisages a new era of public-private partnerships and a greater role for private investment that delivers positive social impact. The delegation is expected to showcase the progress the country is making in efforts to revive the economy, address its challenges, and implement the much-needed structural reforms that are in the pipeline.
Leila Fourie, Group CEO of the JSE, says “The pandemic has exposed the fault-lines in South Africa’s economy. South Africa faces an economic and foreign flows challenge caused by a confluence of factors. The country’s ratings downgrade overhang, fiscal cliff and low growth economy have culminated in an outflow of international investment flows in local financial markets. The SA Tomorrow conference provides the opportunity for government and private sector to come together to deliver a compelling narrative about how South Africa will offer a range of attractive investment prospects for investors.”
“SA’s economic prospects hinge on the speed and momentum with which the long outstanding structural reforms will be executed. These include steps to increase efficiency and competition in the energy sector and to auction high-demand spectrum,” says Standard Bank South Africa Chief Executive Lungisa Fuzile. “What is needed now is implementation, and there are some encouraging signs that progress is being made.”
“The banking sector played an important role in assisting individuals and businesses through the worst of the crisis and we are equally committed to supporting and accelerating the recovery. We remain optimistic about South Africa’s long-term prospects and about the opportunities it offers to investors,” Fuzile adds.
“We are confident that by working together, meaningful partnerships can be forged to accelerate growth, contribute to broader social upliftment and greater financial inclusion. Despite the challenges we face, the financial services sector continues to demonstrate a resilience and determination to driving practical and workable investment solutions that will deliver growth, development and the shared value this country needs,” says Iain Williamson, CEO of Old Mutual.
“As South African business leaders, we support the President’s focus on driving sustainable economic growth and remain committed to playing our part in the recovery journey. The JSE and our counterparts are well-positioned to boost confidence in the country and its financial system by providing credible, secure and well-regulated markets,” concludes Fourie.
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 130 years.
As a leading global exchange, the JSE co-creates, unlocks value & makes real connections happen.
ABOUT STANDARD BANK
Standard Bank Group is the largest African bank by assets, operating in 20 African countries and 5 global financial centres. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB. Standard Bank has a 157-year history in South Africa and started building a franchise outside southern Africa in the early 1990s.
Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth. The group has over 50 000 employees, more than 1 100 branches and 9 000 ATMs on the African continent, which enable it to deliver a complete range of services across personal and business banking, corporate and investment banking and wealth management. Headline earnings for 2019 were R28.2 billion (about USD2 billion) and total assets were R2.3 trillion (about USD163 billion). Standard Bank’s market capitalisation at 31 December 2019 was R277 billion (USD20 billion). The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 20.1% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
For further information, go to http://www.standardbank.com
ABOUT OLD MUTUAL
Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 14 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has a niche business in Asia. With over 175 years of heritage across sub-Saharan Africa, we are a crucial part of the communities we serve and broader society on the continent. For further information on Old Mutual, and its underlying businesses, please visit the corporate website at www.oldmutual.com.