Event report

Back To | Mapping South Africa's Path in 2024 Event

On Tuesday, April 9, 2024, the French Chamber of Commerce and Industry (FSACCI) organized the Mapping South Africa's Path in 2024 event in collaboration with our platinum members Coface and ENS, featuring experts Aroni Chaudhuri and Steven Powell.

Aroni Chaudhuri, an African economist, delivered a presentation focusing on various economic aspects, particularly related to South Africa and global trends in 2024. The key points discussed included:

Commodity Prices: Concerns about demand surpassed supply fears, resulting in a stabilization of commodity prices.

Inflation: Global inflation declined, yet challenges persisted, particularly in the final stages of economic recovery.

Monetary Policies: There was a call for potential adjustments in monetary policies.

Global GDP Growth: Projections suggested a slowdown in global GDP growth across various regions in 2024.

China: China's recovery was underwhelming and had reached its peak.

South Africa Elections: Election outcomes in South Africa would influence governance efficiency.

South Africa Economic Outlook: South Africa's growth outlook was relatively steady, but significant obstacles remained.

Inflation and Unemployment: South Africa grappled with persistent inflation and high unemployment rates.

Currency and Public Accounts: The South African Rand was anticipated to stay weak, leading to heightened financing needs, while public accounts would endure ongoing strain.

Chaudhuri's presentation provided insights into the economic landscape of South Africa and global economic trends for 2024, highlighting challenges and potential areas of focus for policymakers and businesses.

Additionally, ENS Africa's Executive, Head of Department, Forensics, Steven Powell, discussed South Africa's efforts to address deficiencies in its Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regime to get off the FATF grey list. 

The presentation emphasized the importance of sustained efforts to comply with FATF recommendations to be removed from the grey list by January 2025. It also touched on proposed reforms to whistleblowing legislation and the need for decisive leadership and collective action to combat corruption and improve the country's financial integrity.

This event provided valuable insights and discussions for attendees, shedding light on key economic and regulatory issues shaping South Africa's trajectory in 2024 and beyond.

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