South Africa's Deputy President Paul Mashatile Opens The Markets at London Stock Exchange Group, Joined by Kennedy Bungane Group CEO of African Bank

London, United Kingdom; 01 October 2024 – Today marks a significant moment for South Africa's international engagement, as His Excellency Deputy President Paul Mashatile delivers the keynote address at the London Stock Exchange (LSE) Market Opening Ceremony, sponsored by African Bank.

This event, taking place on October 1st, 2024, is part of a larger week-long series running from September 29th to October 5th, designed to accelerate investment into South Africa. The Deputy President is leading a high-level delegation consisting of eight Ministers, CEOs of large corporates and about 40 startups and small businesses, aiming to foster growth and global integration of South African SMMEs and startups.

?African Bank, a key sponsor of the London Stock Exchange event, has long been committed to empowering South African SMMEs through its Enterprise and Supplier Development Programme. By partnering to sponsor the Investor Engagement Day, African Bank ensures that a select number of SMMEs from its ecosystem network with large private sector partners, gain invaluable exposure to international markets and investors. The event exemplifies the Bank’s ongoing mission to provide small businesses with access to market opportunities, financial inclusion, and strategic partnerships.

?A highlight of today’s event is the keynote address delivered by His Excellency South African Deputy President Paul Mashatile during the LSE Market Opening Ceremony. His presence underscores the importance of strengthening South Africa’s global partnerships and the critical role SMMEs play in fostering economic growth and trade on the international stage.

?Kennedy Bungane, Group Chief Executive Officer at African Bank, emphasised the significance of engaging with the UK investor community: "Engaging with the UK investor community provides us with an invaluable opportunity to strengthen ties with influential financial players. It positions African Bank at the centre of meaningful conversations about the future of banking and financial services, allowing us to highlight the bank’s pivotal role in the African economy."

?The event also serves as an important lead-up to African Bank’s upcoming financial results announcement. Bungane notes: "Our upcoming results will reflect the strength of our financial foundation and our commitment to sustainable, inclusive growth. We are confident that this engagement day will set the stage for greater international recognition and deeper investor interest in our journey."

?Adding to this from London, Ms. Edna Sathekga-Montse, Group Chief Sustainability and Transformation Officer at African Bank, who is accompanying the SMME delegation, expressed the bank’s pride in sponsoring the event:

?"African Bank is honoured to be a partner to the South African SMME and Startups Business Showcase in London, which aligns with our core mission of creating sustainable financial solutions for entrepreneurs. By participating in this event, South African SMMEs gain access to a wealth of knowledge, funding opportunities, and strategic partnerships that will empower them to scale and succeed beyond local borders. We are proud to be part of their growth journey."

The South African SMME and Startup Business Showcase not only strengthens trade relations between South Africa and the UK but also enhances bilateral business collaboration. In 2021, the UK’s Foreign Direct Investment (FDI) into South Africa reached ￡21.5 billion, while South Africa’s FDI into the UK was ￡7.9 billion. African Bank’s participation in this event helps bridge the gap between these two dynamic economies, offering SMMEs the resources they need to thrive on a global scale.

?The SMMEs selected for this showcase will benefit from market access, funding opportunities, learning and growth, participating in peer-to-peer knowledge exchange, networking sessions, and curated learning programmes throughout the week. This showcase represents a significant opportunity for both African Bank and South African entrepreneurs. By promoting collaboration between South African and UK businesses, the event sets the stage for long-term partnerships, economic growth, and cross-border innovation.

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For Media inquiries, please contact:

Mika Chauke

Head: Strategic Communications & PR

African Bank

Email: [email protected]

Telephone: 082?742 2498