The African Development Bank (AfDB), the Johannesburg Stock Exchange (JSE) and the Industrial Development Corporation of South Africa (IDC), have jointly organised the first Africa Business Day forum, dedicated to enabling Southern African businesses to expand into Sub-Saharan Africa.
Titled Business Strategy for expansion into Sub-Saharan Africa – Challenges and opportunities for Southern African companies, the event focused on assisting medium- and large-scale Southern African companies to expand beyond their domestic markets.
Commenting about the initiative, Josephine Ngure AfDB’s deputy director general for Southern Africa regional office, said: “The Bank considers this forum an important milestone in our efforts to strengthen engagement with the private sector in order to tap the many opportunities Africa has to offer. The day also marks another step in our partnership with prominent national and regional institutions.”
The event provided a forum for multinational South African companies and experts to share experiences and local knowledge with medium- and large- scale South African enterprises contemplating opportunities in the rest of Africa.
It also offered insight into available products and offerings from the JSE, the IDC and the Bank. Read more: JSE lists clean energy group with a core focus on natural gas
“As Africa’s premier exchange, we provide companies with access to capital as well as a platform to connect our many stakeholders to access growth,” stated Donna Nemer, director capital markets, JSE.
Lizeka Matshekga, divisional executive, Agro, Infrastructure and New Industries, also commented: “The Industrial Development Corporation is at the forefront of industrial development that unlocks critical and globally competitive industries to support and stimulate economic growth in South Africa and also unlock regional development and integration in the rest of Africa.”
In conclusion, Ngure highlighted that the bank’s High 5s initiative is also focused on the importance of domestic resource mobilisation, crowding-in of investment, partnerships and leveraging.