STANDARD Bank CEO Sim Tshabalala speaking at the New Development Bank’s ninth annual meeting in Cape Town.ACTIVE non-alignment foreign policies of developing countries — such as those adopted by South Africa and many other countries — were turning the challenges and risks posed by the climate and energy transition into big opportunities, Standard Bank CEO Sim Tshabalala said on Friday.
NGOZI Okonjo-Iweala, director-general of the World Trade Organisation, speaking at the New Development Bank’s ninth annual meeting, held in Cape Town on Friday. | Leon Lestrade Independent Newspapers Tshabalala said research on whether African countries were having to pay a premium for development finance because of perceptions that they were higher risk was not conclusive, but Standard Bank’s own anecdotal experience was that there was some prejudice.
World Trade Organisation director-general Dr Ngozi Onkonjo-Iweala said emerging and African markets faced “daunting challenges” at present, in that securing a better future would mean meeting the United Nation’s Sustainable Development Goals by 2030. But the economic backdrop for emerging markets and developing economies was particularly difficult at present, as Covid-19 had delivered the last hit to growth for many of these countries. Years of development progress were lost because of the pandemic, the problems of too high external debt were back and monetary tightening in advanced economies was strangling development funding,
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