- published: 04 Dec 2014
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Ciaran Whelan, global head of private banking and Henry Blumenthal, head, Wealth & Investment, South Africa at Investec talk to Yuri Bender about developments in the South African market, branding and growth plans for the future. In 2014, Investec wo
Private banking in Africa is expected to grow at the rate of 7 per cent every year, driven by a rising number of high net worth individuals. According to the 2016 wealth report by Knight Frank, the class of super-rich will grow by 80 per cent by 2025 to fifteen thousand and three hundred individuals. CNBC Africa's Charles Gitonga spoke to Anjali Harkoo, Head of Wealth and Investment at Stanbic Bank on what this depicts of the economy.
Most of us aspire to have our own private banker. For years it was cheaper to bank with high-touch Investec. Any graduate with prospects was welcomed with open arms and got a better fee deal than the big four would give them. This is changing. In 2012 Investec's monthly banking charges were R295 now they are R400 -- a 35% increase. Tonight, Bruce Whitfield speaks to Ryan Tholet, South Africa head of Investec Private Banking about the private banking landscape and challenges.
PBI editor Nicholas Moody speaks to Khalid Sattam,HSBC Private Bank's head of its investment advisory group for theMiddle East and North Africa, about winning Outstanding Private Bank Middle East,the region's intense competition and increasing demand for Islamic finance solutions. Interview held at the Private Banker International Awards 2010.
(www.abndigital.com) Finance Minister Pravin Gordhan has unveiled legislation to curb the influence of a group of the Reserve Bank's private shareholders. They stand accused of threatening to undermine the Bank's independence and circumventing laws that limit them to holding 10 000 shares. For some reaction to yesterday's announcement I'm joined now in studio by shareholder Mario Pretorius, while Michael Duerr, also a shareholder, joins us on the line from his home in Schliersee, which is 60 km outside of the German city of Munich.
Of the $93 billion that Africa requires for infrastructure development every year, 43 billion comes from governments and international funding agents, according to the African Development Bank; and bridging a deficit of $50 billion calls for more efficient public private partnership frameworks. For more CNBC Africa filed this report.
http://www.weforum.org/ African frontier markets attract about 1% of global private equity flows. How can the region’s capital markets deepen and broaden? Dimensions to be addressed: - Integrating and harmonizing cross-border market regulation - Increasing long-term corporate and government bonds - Advancing initial public offering activity •Raymond McGuire, Head, Global Banking, Citi, USA. •Maria Ramos, Chief Executive Officer, Barclays Africa Group, South Africa; Global Agenda Council on Africa. •John Rwangombwa, Governor of the National Bank of Rwanda; Global Agenda Council on the Future of Banking. •Hendrik du Toit, Chief Executive Officer, Investec Asset Management, United Kingdom. Moderated by •Matina Stevis, Africa Business Correspondent, The Wall Street Journal.
Africa’s dearth of quality infrastructure frames many of the conversations around the continent’s growth prospects. Sustained growth and rapid urbanization rates have been instrumental in motivating the reduction of the infrastructure deficit, which according to the African Development Bank remains staggeringly high at approx. $50bn annually – mainly in energy, transport, water and sanitation. Scaling up financing from the traditional sources of taxes, government borrowing, and aid will not be sufficient to close the gap. In order to increase the pace of critical infrastructure investment, innovative financing mechanisms from global capital to domestic markets must be explored and implemented. It is well documented that well-designed PPP projects can play a pivotal role in bridging the in...
Game Changers Africa takes a look at former Nigerian banker turned philanthropist & entrepreneur Tony Elumelu. Elumelu made his money after acquiring an ailing Nigerian bank and turning it into the Pan-African United Bank for Africa. He left the world of banking in 2010 to set up private investment firm Heirs Holdings. Today he has a clear goal to change the lives of 10 million people in the next 10 years through "Africapitalism", a term which he coined. Video Courtesy: BloombergTV Africa
Private banks are changing fast. Having recovered from the crisis, they are hiring specialist staff, embracing new regulations and engaging customers with innovative investment strategies, explains Chistophe Billard, Group Commercial Director at SGPB
Welcome Remarks: Dr. Donald Kaberuka, President of AfDB Group Panelists: - H. E. Paul Kagame, President of Rwanda - H. E. Uhuru Kenyatta, President of Kenya - Dr. Nkosazana Clarice Dlamini-Zuma, Chairperson, African Union Commission - H. E. Thabo Mvuyelwa Mbeki, former President, Republic of South Africa - Hon. Olusegun Obasanjo, former President of the Federal Republic of Nigeria - Dr. Mo Ibrahim, Founder and Chair, Mo Ibrahim Foundation Description: The World Economic Forum (WEF) report for 2014 identifies two critical leadership problems globally -- the first is that there is a leadership deficit, and the second is that there is a lack of trust in policies and programmes pursued by leaders. Good leadership will be crucial for enabling Africa to exploit the window of opportunity th...