LONDON, 01 Oct. - (ANA) – Absa has partnered with Brand South Africa and the South African High Commission in London, on London Investment Week, which brings an exclusive opportunity to engage directly with key decision-makers and industry leaders at the forefront of economic opportunities between South Africa and the United Kingdom (UK).

 

 This unparalleled platform that brings together influential figures from both South Africa and the United Kingdom, including senior government officials, prominent business leaders and global investors. 

 

London Investment Week aims to attract significant investment into South Africa, showcasing the country's vibrant economic landscape and marking 30 years of democracy while highlighting opportunities in key growth sectors, including small and medium-sized enterprises (SMEs).

 

Absa is taking a pioneering role in driving national economic priorities, by partnering with the Government of National Unity (GNU) on the investment roadshow. This collaboration, undertaken on behalf of Brand South Africa, the Department of International Relations and Cooperation (Dirco) and other key institutions, underscores Absa’s strategic alignment with government objectives and its commitment to positioning South Africa as a premier destination for investment.

 

“Despite global and local headwinds, Africa’s economies continue to show remarkable resilience. The IMF and World Bank project steady growth across the continent in the medium term, driven by structural reforms, infrastructure development, and a growing middle class. In South Africa, inflation is expected to continue to decline, easing the cost-of-living pressures on households. At Absa, we are committed to supporting these structural reforms and infrastructure advancements that are key to driving Africa’s economic growth,” said Charles Russon, Interim Group Chief Executive Officer designate at Absa Group. “Our tailored financial solutions and advisory services are designed to help clients and investors navigate emerging trends while contributing to sustainable development across the continent.”

 

Total trade in goods and services between the UK and South Africa was valued at £10.3 billion in the four quarters to the end of Q1 2024, with South Africa being one of the UK’s 30 largest trading partners, accounting for 0.6% of total UK trade. The potential for growth in sustainable and green investments, particularly in sectors such as renewable energy, infrastructure, and technology, therefore, remains significant.

 

Absa is uniquely positioned to facilitate this growth, having established its UK office in 2018 with the aim of becoming the preferred corporate and investment banking partner for UK and European investors looking to do business in Africa’s growing economies. The goal is to enable UK businesses to mitigate risks and realise their strategic ambitions in Africa. 

 

“At Absa, our vision is bold and long-term. In the coming years, we aim to deepen our roots in key emerging markets while expanding our global reach,” says Russon. “The message is clear: Africa is open for business. The recent launch of our presence in China marks another milestone in connecting African markets with one of the world’s largest economies. We see immense potential to strengthen ties between Absa and other growing regions, adding to our footprint across the continent, the UK, the US, and Asia.”

 

As Absa continues to champion South Africa’s investment potential, the bank remains committed to ensuring that the benefits of partnerships created at these events contribute to a more inclusive and sustainable economic landscape in South Africa. By facilitating investment in key growth sectors, Absa is playing a vital role in shaping the future of the country’s economy and supporting its integration into the global market.

 

 

 

 

Absa Group Limited (“Absa Group”) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups. 

 

Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance. 

 

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has representative offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.   - (ANA) -

 

AB/ANA/01 October 2024 - - -