Cooper: African businesses show resilience

Standard Bank's Business & Commercial Banking Division recently hosted a large pan-African conference in Cape Town, bringing together businesses from across the continent to encourage deal-making and fresh business activities. Simone Cooper, the Head of Business and Commercial Banking South Africa at Standard Bank Group, shared key insights from the event with CNBC Africa. Cooper highlighted the significance of networking among businesses to drive Africa's growth and stimulate trade across the continent. One of the key takeaways from the conference was the focus on enabling businesses to connect and collaborate, paving the way for increased business opportunities and growth prospects. During the conference, panels discussed critical topics such as the just energy transition and succession planning for family-owned businesses. The energy panel delved into the importance of a just transition in the energy sector, while the segment on family-owned businesses resonated with many attendees facing challenges related to succession planning and fair distribution within their businesses. Cooper emphasized the positive outlook of businesses operating in the business and commercial banking segment, despite facing challenges like load shedding and a low-growth environment. She expressed optimism about businesses' can-do attitude and their determination to find opportunities for growth. The uninterrupted power supply from ESCOM was highlighted as a significant boost for businesses, contributing to a more positive sentiment post-elections. In terms of capital flow and sector performance, Cooper noted that businesses across various sectors, including retail, wholesale, and manufacturing, are thriving. She highlighted the importance of businesses focusing on becoming top performers within their respective sectors to capitalize on growth opportunities. Cooper acknowledged the diverse challenges faced by family-owned businesses in passing on their legacies and engaging the next generation. Standard Bank Group has developed advisory and structured lending services to support these businesses in navigating succession challenges and connecting with potential investors. Overall, the conference served as a platform for business leaders to exchange ideas, explore growth prospects, and address key challenges within the African business landscape. Cooper's insights underscored the resilient and forward-thinking nature of businesses in driving Africa's economic growth and fostering a dynamic business environment.