Fihla: S.Africa an important gateway to African markets

South Africa continues to position itself as an ideal investment destination as the SA Investor Tomorrow Conference takes place in New York with 19 CEOs of leading JSE-listed companies in attendance. This annual conference, now in its 11th year, is a collaborative effort between the private sector and government to showcase South Africa's potential to global investors. One of the key figures present at the event is Kenny Fihla, the Deputy CEO of Africa's largest bank, Standard Bank Group. In a recent interview with CNBC Africa, Fihla discussed the positive sentiment among foreign investors towards South Africa following recent developments in the country. Fihla highlighted several key areas of progress, including the stabilization of the electricity supply, improvements at TransNet, and the smooth transition after the general elections. These accomplishments have contributed to a favorable investment climate, with investors showing interest in engaging with South Africa and exploring new opportunities. Fihla emphasized the importance of investors believing that South Africa has turned the corner, which is gradually becoming a reality. He noted that while there are still challenges to address, such as enhancing logistics and infrastructure, there is a growing optimism in the market about the country's potential for growth and investment. The infrastructure sector, in particular, is seen as a significant area for future investment, with opportunities to unlock economic potential and attract capital flows. Despite the positive outlook, Fihla acknowledged that external factors, such as global trade risks, could impact investment decisions. The ongoing political uncertainty, including the upcoming US elections, adds another layer of complexity for investors assessing their portfolios. However, Fihla remains optimistic that these external factors, while influential, will not completely deter investors from considering South Africa as a viable investment destination. In addition to South Africa's appeal, Fihla also highlighted the country's role as a gateway to the rest of Africa. With its stable economy, diverse institutions, and strategic location, South Africa serves as a crucial entry point for investors looking to expand into the broader African market. Fihla mentioned ongoing discussions with investors interested in exploring opportunities not only in South Africa but also in other African regions like East Africa, Nigeria, and Angola. The positive reception towards South Africa bodes well for the continent as a whole, as increased investment in South Africa is expected to have a ripple effect on neighboring countries and drive further economic growth. Overall, Fihla's insights reflect a growing confidence in South Africa's investment landscape and its potential to attract capital inflows and drive sustainable development.