Transfers reflect explosion in transactions
At the SWIFT African regional conference were (from left to right): Christian Sarafidis, Head of Western Europe, Middle East & Africa, SWIFT, Leina Gabaraane, Chairman of the SADC Banking Association and Managing Director of Stanbic Botswana, Dr Bwalya Ng’anda, Deputy Governor, Operations, Bank of Zambia, Tim Masela, Head of the SADC Payments System Project, South African Reserve Bank, and Ravi Shunmugam, Head, FNB payments and in-country payments leader, SADC Payments System Project (South Africa).
Held in Gaborone, Botswana from 21 to 23 May, the 2013 SWIFT African Regional Conference attracted more than 455 delegates from 40 countries to this three-day annual event.
Christian Sarafidis, Head of Western Europe, Middle East & Africa, SWIFT, said Africa has firmly established itself is a continent of hope and opportunity. Sarafidis highlighted Botswana’s second position on the base profitability index of returns on Foreign Direct Investment.
“Of course, there is still a lot to do, not least the need for huge investment in Africa’s infrastructure, but the momentum is clearly underway – Africa’s future is in Africa’s hands,” Sarafidis said.
“Lack of infrastructure creates real barriers to growth – whether these are barriers to physical travel or to trade and communications,” he said.
Alain Raes, Chief Executive EMEA & APAC, SWIFT said it was imperative to look at ways of maintaining the momentum that has been achieved. He said cross-border financial infrastructure was a critical element of Africa’s regional integration projects, only when this part of the puzzle is in place can substantive growth follow.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 212 countries.
