Standard Bank's Tshabalala: Africans must focus on own priorities

In a recent interview at the World Economic Forum in Davos, Switzerland, Standard Bank Group CEO Sim Tshabalala emphasized the importance of Africa negotiating strategically to capitalize on its ownership of vital minerals essential for emerging technologies such as the green transition. Tshabalala spoke with CNBC Africa's Godfrey Mutizwa on a wide range of topics that dominated the agenda at the 55th annual meetings of the World Economic Forum. The interview covered significant issues such as geopolitics, the rise of artificial intelligence, quantum computing, and Africa's positioning in the global landscape. Africa's growth potential, infrastructure needs, and the imperative for the continent to leverage its mineral wealth were key discussion points. Tshabalala highlighted the critical role of negotiation in ensuring Africa receives its fair share of value from the abundant minerals it possesses. He underscored the importance of increasing manufacturing and production capabilities within the continent to add value to these resources and boost economic growth. The CEO expressed a positive outlook for Africa's future, projecting significant economic growth, advancements in health and wealth, and improved productivity for the continent's population. With a burgeoning population of over 1.2 billion people and a GDP exceeding $3 trillion, Africa is poised to become the fastest-growing region globally post-2030. One of the central themes of the interview was the necessity for African nations to collaborate with international investors and establish a conducive legal and regulatory environment to attract funding for crucial infrastructure projects. Tshabalala emphasized the need for public-private partnerships and highlighted South Africa's successful model as a blueprint for other African countries to follow. Addressing concerns about the impact of global geopolitical developments, the CEO acknowledged potential challenges arising from policy shifts, such as those introduced by President Trump. Tshabalala stressed the importance of scenario planning and readiness to mitigate risks associated with economic uncertainties. In conclusion, Tshabalala urged African governments and businesses to prioritize negotiations that benefit the continent and ensure favorable outcomes for its people. By seizing control of its mineral resources, enhancing infrastructure, and fostering collaboration with global partners, Africa can unlock its full potential and emerge as a key player in the global economy.