2013 SUMMIT
The path to growth
During the 2013 Banking Summit held beginning of Spring, The Banking
Association South Africa (The Banking Association) had warmed up to the idea
of implementing South Africa’s National Development Plan (NDP).
T
he summit, themed “Banking on the National Development Plan,” sought views from stakeholders in the
financial services sector on what banks ought to be
doing in implementing the NDP. Speakers addressed
the role that banks could play in the NDP by working
with other state institutions in funding infrastructure in the country, and in assisting Small and Medium Enterprises (SMEs).
The Banking Association made a commitment in the presence of
ANC Deputy President and National Planning Commission ViceChairman, Cyril Ramaphosa, that bankers would “get their hands
dirty” in the national interest and were ready to play a meaningful
role in implementing the NDP.
In his opening address, The Banking Association Managing
Director, Cas Coovadia said South Africa was at a T-junction and
needed to make the right choices if the full economic potential of
the country was to be met.
‘We need a cohesive plan to guide our policies and interactions if
we are to take the path of growth, prosperity, equity and well-being.
The NDP is such a plan,’ Coovadia told the summit.
‘Business does not agree with every aspect of the NDP, as is the
case with other sectors of society. However, we support the NDP as
the only plan that has buy-in from a broad spectrum of stakeholders,
more so than any other plan on the agenda.’
Equating the NDP to a caravan that was moving forward,
Ramaphosa said that despite the differences around the NDP in the
ANC’s tripartite alliance, the framework was a “living document”
and financial institutions needed to come on board and help
develop SMEs.
The NDP, a policy framework whose targets include fighting
unemployment and poverty, identifies SMEs as key to government’s
plans to reduce unemployment from about 25% currently to 6%
percent in 2030.
Edition 7
Subbed Banker SA 2013 Summit.indd 27
BANKER SA
27
2013/10/15 10:42 AM