{"id":60665,"date":"2024-02-06T15:58:24","date_gmt":"2024-02-06T15:58:24","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth"},"modified":"2024-02-06T17:00:40","modified_gmt":"2024-02-06T17:00:40","slug":"standard-bank-investing-outside-south-africa-for-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth","title":{"rendered":"Standard Bank investing outside South Africa for growth"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Standard Bank is investing more of its capital outside its home market in South Africa as the country\u2019s economy stagnates while other African economies boom.<\/p>\n

This is feedback from the CEO of Africa\u2019s largest bank by assets, Sim Tshabalala, in an interview with CNBC Africa.<\/p>\n

\u201cWe are allocating our capital at Standard Bank to the fastest-growing parts of our business. The fastest growing parts are outside of South Africa,\u201d Tshabalala said.<\/p>\n

South Africa\u2019s economy has stagnated in the past decade, while its government debt has skyrocketed and its population has boomed. This has resulted in a decline in living standards for South Africans.<\/p>\n

Tshabalala said parts of Africa are on a much more positive trajectory as they have implemented reforms and have made it easier to do business.<\/p>\n

Countries that are doing well in Africa, he explained, are those that have implemented fiscal discipline, liberalised their economies, and have made it easier for goods, people, and ideas to flow.<\/p>\n

By implementing these reforms, they have successfully reduced the risk premium associated with investing in their countries.<\/p>\n

He said this does not mean the bank will not invest in South Africa. \u201cWe believe in the African continent and in South Africa. We are investing and will continue to invest because of the vast opportunities.\u201d<\/p>\n

\u201cSouth Africa will be alright. I am very excited for the next ten years in South Africa.\u201d<\/p>\n

For South Africa to kickstart its economy, it needs to make it easier to do business by making the state more efficient.<\/p>\n

\u201cPlease improve the quality of our institutions. In the case of South Africa, we use the lovely phrase \u2018Please capacitate the public sector\u2019.\u201d<\/p>\n

\u201cThere are parts of the public sector that are excellent, such as the National Treasury and the Reserve Bank. Replicate what is happening in those across the board,\u201d Tshabalala said.<\/p>\n

\u201cPlease capacitate the state,\u201d he repeated. \u201cPlease professionalise it. Please continue to make doing business easier.\u201dTshabalala\u2019s comments at Davos echo those he made last year when he warned that South Africa was losing out to Africa.<\/p>\n

Tshabalala explained that South Africa is in global competition with its African counterparts and other emerging markets for scarce capital to drive economic development.<\/p>\n

\u201cThe world competes for capital. We compete for the money we need to finance our nation\u2019s budget deficit and compete globally for the money to finance infrastructure investment, fund Eskom and Transnet, and finance corporate projects.\u201d<\/p>\n

The biggest factor in attracting capital is the country\u2019s risk premium, which dictates the returns an investor should expect for taking on the risk of investing in a given country.<\/p>\n

This directly impacts a country\u2019s ability to raise capital and the companies that operate in it.<\/p>\n

As this premium increases, which it has in South Africa, it makes it more difficult to attract investments in local businesses and finance the government\u2019s deficit.<\/p>\n

\u201cWe are competing on the continent and with emerging markets for this capital. So if they have decreased the risk of investing in their country and generated greater returns, the money will then rather go to those places than South Africa,\u201d Tshabalala said.<\/p>\n

The key factor is the rate at which the economy is growing. South Africa is expected to grow at less than 1% in 2023, while other African countries will average greater than 3% growth.<\/p>\n

\u201cWhat does this mean? It means that we are losing our national competitive advantage. We need to grow faster and get people healthier and wealthier,\u201d Tshabalala said.<\/p>\n

A richer population will also generate more capital to invest locally and drive further economic growth.<\/p>\n

\u201cWe are growing at 0.8%. Other countries are growing much faster. Where do you think that money is going to go? It is going to go to other countries and not South Africa.\u201d<\/p>\n

The biggest impediments to South Africa\u2019s economic growth are an unstable electricity supply, logistical inefficiencies, and crime and corruption.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Standard Bank is investing more of its capital outside its home market in South Africa as the country\u2019s economy stagnates while other African economies boom. This is feedback from the CEO of Africa\u2019s largest bank by assets, Sim Tshabalala, in an interview with CNBC Africa. \u201cWe are allocating our capital at Standard […]<\/p>\n","protected":false},"author":84,"featured_media":60664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-60665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nStandard Bank investing outside South Africa for growth - South Africa<\/title>\n<meta name=\"description\" content=\"Standard Bank is investing more of its capital outside its home market in South Africa as the country\u2019s economy stagnate ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard Bank investing outside South Africa for growth\" \/>\n<meta property=\"og:description\" content=\"Standard Bank is investing more of its capital outside its home market in South Africa as the country\u2019s economy stagnate ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-06T15:58:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-06T17:00:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1707225968.652095.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1844\" \/>\n\t<meta property=\"og:image:height\" content=\"1029\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Standard Bank investing outside South Africa for growth\",\"datePublished\":\"2024-02-06T15:58:24+00:00\",\"dateModified\":\"2024-02-06T17:00:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\"},\"wordCount\":671,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1707225968.652095.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/standard-bank-investing-outside-south-africa-for-growth\",\"name\":\"Standard Bank investing outside South Africa for growth - 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