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Event Summary                                                                                                                       ^^ back to top

From all accounts the conference "South Africa: Today & Tomorrow" was an extraordinary success.This was the 8th Annual European - African Investment Conference which Omega has organised in London. The theme of the conference, which took place on the 24th January 2006, related to the present South African political and economic situation and possible future developments. 

The reason for this topic is that we detected from our contacts with foreign business a great deal of uncertainty and genuine concern at what has been happening in South Africa in recent times, and how this will impact on the economy and business.   

With 2005 been an extraordinary year for South Africa, many positive things have happened. But there has also been negatives:  

The Positives:   

• Business confidence is high

• The Rand is trading firm

• Consumers are spending up a storm

• The racial imbalance of wealth is being corrected, as a black middle class emerges

• The Johannesburg Stock Exchange is hitting new highs

• The economy is pumping strongly

• A growth rate of 5.1 as opposed to a forecast of 4.1 is probable

• There have been major injections of foreign investment – Barclays, Vodafone, Mittal Steel, TATA and others

• South African companies have continued expanding into the rest of Africa and the Middle East

• Tourism has grown

The Negatives:   

• The delivery of social services has been disappointing

• A skills shortage threatens growth

• The infrastructure – roads, transport, railways – has deteriorated

• Poverty has spilled over into local community violence

• The ANC, COSATU and the SACP governing alliance is fraught with tension

• The Zuma / Mbeki conflict revealed ideological fissures, different support bases and a succession problem

• Crime is taking a heavy toll on human life and on the economy

• AIDS is rampant

• Racial bickering has marred the judiciary

John Battersby of The International Marketing Council for South Africa summed it up at the end when he said that he had seldom experienced so powerful a statement of international business confidence in South Africa; and ABSA’s Chris Hart confirmed this when he said that the excellent South African economic performance was long-term.  As media partner, the BBC covered the event. 

               Speakers Included                                                                                                       ^^ back to top

• Sir Malcolm Rifkind, MP              

• Dr Xolile Guma, Deputy Governor, South African Reserve Bank    

• Leapeetswe Papi Molotsane, CEO, Telkom   

• Sherezam Mazari, CEO for Africa, Standard Chartered Bank       

• Michael Davies, Political Analyst: South Africa, Control Risks       

• Michael Spicer, CEO, Business Leadership South Africa           

• Chris Hart, Senior Economist, ABSA  

• Kevin Wakeford, Chief Executive, East London Development Corporation                                                                       

• Colin Coleman, MD, Goldman Sachs       

• Julian Treger, Chairman, Blackstar

• Andrew Bonamour, Director, Blackstar

• Lyndon Worrall, COO, Omega Investment Research - on Behalf of Anglo Zimele Fund   

• Andy Bainbridge, Regional Managing Director for Africa and Indian Ocean, Barclays Africa and Middle East

• Pepi Silinga, CEO, COEGA

      And Others 

               Photos from the Conference                                                                                     ^^ back to top

Scenes from the London Conference

               Venue                                                                                                                          ^^ back to top

This event was held at:

The Hatton
51 – 53 Hatton Garden
London  
EC1N 8HN

               Further Information

For further information, please contact:

David Byrne

Tel:  +27 (0)21 689 7881

Fax: +27 (0)21 689 8015

davidb@omegainvest.co.za