On this edition of eBizInsights we examine the state of Infrastructure in Africa, and how this has effected the economic opportunities across different nodes of the Continent. Todays guest is Onyebuchi Memeh from Standard Chartered Bank. Key insights:
MOBILE MONEY: creating operational efficiencies for companies in Africa
Mobile technology is making great strides in bridging the banked and the unbanked –– but this increased accessibility to banking via mobile phones is now benefiting companies Africa too.
DIGITISING TRADE: How is Africa benefiting?
Infrastructure Africa 2015 to address current financing trends, the liberalisation of Africa’s air space and regional cooperation
Africa needs $95 billion per annum for the next 10 years to meet its infrastructure demands. The demand for infrastructure is driven by rising populations and rapid urbanisation and is causing a shift for all players in the sector. Internationally, the outlook is extremely positive between now and 2020, signalling new business opportunities for the continent’s infrastructure players.
The Medium-Term Expenditure Framework (MTEF) of the South African government has set aside R845-billion for public sector infrastructure projects with a further R3,2-trillion infrastructure projects under consideration up to 2020. So far, around 25% of these are being financed and implemented. On the African continent $20-billion expenditure in infrastructure projects is already underway.
With these ambitious goals in sight for Africa’s build programmes, the fourth annual Infrastructure Africa Business Forum is being hosted in Johannesburg, South Africa in a month’s time. With the aim of engaging with African governments and African infrastructure players, the two-day event and exhibition with business-matchmaking will facilitate business connections for Africa’s build programmes and seek to unlock private sector opportunities in infrastructure projects.
Onyebuchi Memeh has over 15 years of experience in Commercial Banking and has worked with Large Corporations and Financial Institutions in Africa to address their banking needs across several continents.
Mr Memeh is responsible for providing leadership and driving the strategy and execution for growing product revenues at Standard Chartered Bank’s Africa division.
He is also responsible for structuring, evolving and delivering working capital solutions tailored to address the needs of corporate clients across Standard Chartered’s network of 14 countries in Africa. In addition, he has functional responsibility of ensuring that current product offerings are customised to meet the unique requirements of the bank’s large global relationships operating within Africa
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