WINDHOEK – While Namibia has four commercial banks for its population of about 2 million, countries such as Kenya and Tanzania have more than 50 commercial banks each. While this might not be a surprising statistic, it makes one realise how we have grown so accustomed to our comfort zones in Namibia and in most of southern Africa that we may be inclined to forget that people across the entire continent may face similar problems.
I came to this realisation at the recent gathering with fellow colleagues across the continent at the Standard Bank’s Africa Media Forum 2013. It was the sixth gathering of the annual event, which took place early this month at the bank’s Global Leadership Centre (GLC) in Johannesburg, South Africa. It was a highly stimulating, engaging and a very informative three days.
It dawned upon me, at this event, that every conceivable sector of African economies is rife with competition and whether you are a corporation or an individual you have to be ‘on top of your game’ to succeed at any endeavour.
What influenced me profoundly at this forum was the camaraderie that developed amongst the journalists from the 18 participating African countries, where the bank has a presence of course. It was an eye-opener to hear about the experiences of journalists from across the continent, our similarities in the obstacles we face and our profound differences due mostly to the vast differences in national populations.
The GLC venue in Johannesburg, which is a state-of-the-art facility comprising of everything from accommodation and conference rooms to a gym, a restaurant and a swimming pool, to mention but a few, was a major factor enabling us journalists to practically network with colleagues from east, west, central and southern Africa.
Besides being exposed to the Standard Bank Group’s strategy for growth in Africa, we also explored different banking strategies, investigated the effectiveness of economic regionalism, looked at renewable energy as an emerging asset class, and examined the workings of bond and share markets. Standard Bank’s experts also sensitized us on the media’s role in influencing asset valuation and we looked at how best to access statistics and company information.
At the end of the three days Standard Bank’s Co-CEO, Ben Kruger, met with us and reiterated how Africa remains core to the group’s strategy. “We are committed to further expansion in Africa, recognising that Africa is both the world’s fastest-growing region, and that we are a deeply-rooted African bank. Our vision is to build a leading Africa-focused financial institution that delivers superior returns to all of our stakeholders,” he said.
Using Africa as a key growth strategy is being adopted by a number of corporations, multi-nationals and businesses in general. And as this interaction between countries gains momentum what I concluded from this forum is that it provides us with the opportunity to engage our colleagues from across the borders. While we may be in a comfort zone we have to realize that there is so much more beyond our borders and beyond our region. We have to embrace the rise of Africa in the global arena while remaining true Namibians and inhabitants of the continent as a whole.
By Edgar Brandt