Leading South African Economist to speak on “boom-times in South Africa”
The Ireland South Africa Business Association (ISABA) will this evening Thursday, 19 April co-host with Standard Bank an economic briefing on Thursday 19th April at The Constitution Room, The Shelbourne Hotel, Dublin 2 at 5.30pm.
Standard Bank’s leading Local Market Economic Strategist, Mr Michael Keenan, will travel from Johannesburg to Ireland to profile the prevailing economic climate within South Africa. The audience will comprise key Irish-based business people with economic interests in South Africa. Mr Keenan seeks to provide insight into what he describes as the “boom-times in South Africa”.
Despite currency fluctuations, the outlook is positive for the South African economy which grew by 5% last year up from 3.1% in 2003. Strong fiscal management has maintained low and stable rates of inflation which remain between the self-imposed 3%-6% band; declining interest rates from 15% in 2003 to 11.2% in 2006; and decreasing levels of unemployment. Forecasts predict these positive economic trends are set to continue.
Mr Andrew O’Callaghan, Partner at PricewaterhouseCoopers and President of ISABA, who will chair the event said “South Africa offers extremely attractive prospects for international business. We see ever-increasing numbers of Irish firms within the financial services, construction and telecommunications sectors taking advantage of the opportunities there.” Mr O’Callaghan recently established the PricewaterhouseCooper’s African Business Centre in Dublin which provides a one-stop-shop for Irish firm investigating business opportunities in South Africa and other parts of the region.
ENDS
Notes to Editor
About ISABA
The Ireland South Africa Business Association (ISABA) was established as a non profit organisation in September 1993 to promote trade and commerce between Ireland and South Africa. Working closely with Embassies in both countries (South African Embassy in Ireland and Irish Embassy in South Africa) and key trade associations, ISABA organises regular business briefings and social events providing valuable networking opportunities for its members, interested parties and members of the South African business community visiting Ireland.
About Standard Bank
The Standard Bank Group Limited (“Standard Bank”) is Africa’s leading banking and financial services group, with assets of approximately US$139 billion and over 42,000 employees in 39 countries across the globe.
It leverages its pioneering heritage and experience of resource banking and emerging markets in Africa to offer banking and financial services in developing economies throughout the world, and is committed to making a real difference wherever it operates.
Standard Bank’s principal international investment banking subsidiary is Standard Bank Plc (SB Plc) whose main activities involve sourcing and structuring capital markets, and trade and project-related transactions. It also provides advisory, financing, hedging and commodity trading services.
SB Plc is authorised and regulated by the Financial Services Authority. It is a member of the London Stock Exchange, the London Bullion Market Association, the London Metal Exchange, the London Platinum and Palladium Market and the New York Mercantile Exchange (COMEX Division).
About PricewaterhouseCoopers
PricewaterhouseCoopers provides industry-focused assurance, tax and advisory services for public and private clients. More than 140,000 people in 149 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders. ‘PricewaterhouseCoopers’ refers to the new work of member firms of PricewaterhouseCoopers International Limited, each of which is a separate legal entity.
