#WEF2019: Absa achieves significant milestone in Davos

DAVOS – “From an African perspective, our presence in Davos will be a historic moment for Absa Bank, one of South Africa’s leading financial services groups, since it marks the first year that Absa will attend the World Economic Forum (WEF) annual gathering in Davos as a standalone African bank, and not as a subsidiary of Barclays PLC. 

“Davos is an important platform for us as we look to build om Absa’s pedigree as a brand with substantial equity. We will seek to engage and share insights with key stakeholders looking to be part of Africa’s growth journey. Being an African voice, Davos is a significant milestone in our quest as Africans to reshape the fortunes of our continent”, the bank said in a statement.

“We want to tell the world that Africa is open for business, positioning the continent as a competitive investment destination and international player, able to positively influence the global agenda” said Liezel Squier, Absa’s group media relations manager.

The Absa delegation consist of chief executive Maria Ramos, Peter Matlare, head of Africa Business and Wendy Lucas Bull, Absa’s chairperson.

The bank will host President Cyril Ramaphosa and Finance Minister, Tito Mboweni, at the Brand SA (BSA) Breakfast event in Davos on Thursday morning. Reserve Bank Governor, Lesetja Kganyago has been invited as keynote speaker.

The key objectives of the BSA Breakfast is to profile SA as a competitive destination for inward investment, highlighting relevant successes of the country’s National Development Plan (NDP), positioning the country as a global player and a nation able to positively influence the global agenda and highlighting the strength of SA’s institutions and maturing democracy.

The African Financial Markets Index

“We are looking forward to the opportunity to introduce the 2018 Absa Africa Financial Markets Index (AFMI) to WEF stakeholders in Davos.  AFMI evaluates financial market development in 20 countries, as well as highlighting economies with the clearest growth prospects. 

“The aim is to show not just present positions but also how economies can improve market frameworks to meet yardsticks for investor access and sustainable growth. The index assesses countries around the following pillars: market depth, access to foreign exchange, tax and regulatory environment and market transparency, capacity of local investors, macroeconomic opportunity, enforceability of financial contracts as well as collateral positions and insolvency frameworks,” said Squier.

BUSINESS REPORT