Ghana’s rate of depreciation has slowed due to measures put in place by the Central Bank, says Dr Henry Kofi Wampah, Governor of the Central Bank of Ghana, who is pictured here with Standard Bank Group's Head of Research for Africa, Stephen Bailey-Smith, at the Standard Bank Africa Investors Conference in London.
Addressing investors at the annual conference in London today, Dr Wampah said that measures put in place by the Central Bank included increasing the Monetary Policy rate by 200 basis points earlier this year and tightening cash reserves.
Foreign direct investment into Africa has continued despite the ongoing global economic challenges. This is just one of the messages coming out of the Standard Bank Africa Investors Conference taking place at our London offices. William Blackie, Deputy Head of Investment Banking at Standard Bank Group, is there and says that there Africa still has a lot to offer foreign investors.
The Prime Minister of Tanzania, Hon. Mizengo Peter Pinda (MP), today addressed the Vice President of China, HE. Li Yuanchao, at the opening of a two-day China-Tanzania business forum being held in Dar-es-salaam.
Stanbic Bank Tanzania, a member of Standard Bank Group, is platinum sponsor of the event, which is themed "Tanzania and China Relations: Strengthening Partnerships in Pursuit of Increased Investment and Trade”. Topics under discussion focus on harnessing the potential for cooperation on investment, trade and socio-economic development between the two countries.
We are bringing together policymakers, investors and corporates to discuss investment in Africa at the Standard Bank Africa Investors Conference that kicks off tomorrow at the Standard Bank London offices. Finance ministers from several key African countries, including Nigeria, Ghana, Uganda and Zambia, as well as central bank governors and deputy governors, will attend the annual event.
Representatives from other countries will also be there, including those of South Africa, Kenya, Mozambique, Zambia and Rwanda.
Economic development and inclusive growth is linked to infrastructure development and investment – all of which are not possible without consistent and reliable power supply.
Given the on-going energy deficient issues facing Africa there has been an increasing focus on finding sophisticated funding solutions that governments can embrace to meet their power needs.
Although investment in the power industry is dominated by the public sector, there is a shift towards private sector funding models.
South Africa is in the grip of another cold winter and with it an exaggerated shortage of power. We can all make a difference by choosing not to run geysers and big applicances like ovens, stoves and washing machines in the between the critical hours of 5pm and 9pm.
For families it does mean thinking differently, such as cooking suppers earlier and keeping it warm in a Wonderbag (http://nb-wonderbag.com). For the longer term you may consider switching to gas for cooking or solar for water heating.
The success of the Renewable Energy Independent Power Producer Procurement programme (REIPP) in South Africa has been celebrated as a victory for alternative energy generation in Africa.
We recognise the importance of renewable energy and have assisted in bringing 121.5MW of renewable energy to the national grid through three projects. These projects are part of Standard Bank Group’s commitment to fund more than 940MW of renewable energy under the REIPP initiated by the South African government.
Watch this video to find out more about these projects http://bit.ly/1qgHj7J.
Africa counts for a sixth of the world’s population, but only generates four percent of global electricity. The upcoming Africa Energy Forum (AEF) taking place in Istanbul, Turkey, from 18-20 June will highlight projects that will improve Africa’s power infrastructure.
The conference is the largest event on African power and will bring all the major players in the industry together to identify solutions for the African continent.
As a trusted business partner, Standard Bank believes it has a role to play in ensuring that our customers get the best value possible from our financial solutions – this includes avoiding charging our customers unnecessary fees.
It has become necessary to introduce a fee to our Business Banking overdraft facilities . The fee charged will be used to cover our continuous cost of capital which, in terms of existing regulations, has to be reserved against unused overdraft facilities.
What is the impact of this?
Few of us can say we aren’t attached to our phones, they are an indispensable part of our daily lives. There are apps for everything from smart diaries to smart banking. Now with SnapScan, you can have access to your wallet Its the new and convenient way to pay for your purchase with your smartphone.
It’s an app that offers a convenient, safe and secure way for South Africans to transact.