ABSA CEO on priorities for Africa at Davos 23

The annual World Economic Forum held in Davos 2023 has brought together key players in the global economic landscape to engage in discussions around economic solutions. ABSA CEO, Arrie Rautenbach, shared his perspective on the conference talks in an exclusive interview with CNBC Africa. Rautenbach highlighted the importance of ABSA's presence at Davos, emphasizing the need for extensive engagements with investors, clients, and stakeholders across various sectors. He noted the renewed interest in Africa and the continent's potential for growth, particularly referencing discussions around the Africa free continental trade area. One of the key themes of the discussions at Davos was energy transition and climate action. Rautenbach underscored the significance of energy to economic growth and the transition to renewable and sustainable energy solutions. He mentioned ABSA's active role in financing renewables in South Africa and its commitment to exploring opportunities across the continent. Rautenbach expressed optimism about the policy actions being taken and stressed the importance of practical steps to address the current energy challenges. In light of South Africa's energy crisis, Rautenbach acknowledged the impact on the country's ability to grow and investor sentiment. He called for immediate action to reduce the effects of load shedding and restore positive sentiment. Rautenbach urged collaborative efforts between the government and the private sector to implement short-term solutions and drive progress. Addressing the global cost of living crisis, Rautenbach emphasized ABSA's commitment to financial inclusion as a key element of their strategy. He highlighted the importance of leveraging their capabilities to ensure access to the right products for underserved markets across the continent. Rautenbach expressed confidence in the opportunities for banks to play a vital role in assisting those in need and called for continued dialogue and regulatory support to facilitate financial assistance. As the discussions at Davos continue to evolve, ABSA CEO Arrie Rautenbach's insights provide valuable perspectives on critical issues such as energy transition, economic growth, and financial inclusion. His emphasis on collaboration, practical action, and long-term sustainability reflects ABSA's commitment to driving positive change in Africa's economic landscape.