iMasFinance observes Africa Day
The vision for Africa day is to have an integrated, prosperous and peaceful Africa
This year marks 59 years since the establishment of the Organisation of African Unity, known as African Union now, which is commemorated annually.
On Thursday, May 25 iMasFinance a credited financial services co-operative that has been around for over 80 years commemorated the founding of Africa Day.
iMasFinance honered the day by reflecting on African business; as the vision of the day is ‘an integrated, prosperous and peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena’.
Eddie Brandt, National Manager: Group Brand Ambassador at iMasFinance observed the day by sharing his views on the future of business in Africa, as well as the many challenges local businesses face and how they overcome these challenges and even thrive difficult times.
“From our engagement with senior management at corporate that we have an agreement with, it is clear that the last two years have been tough on everyone. Rising costs means that businesses are under more financial pressure and in my case have to stretch their workforce that have become smaller due to restructuring. I would say that a lot of companies are investigating in their work force through training and upskilling as well as allowing employees,” said Eddie.
He went on to discuss about the future business in Africa, stating that the fastest growing sectors at the moment are Agriculture, Telecommunication, Finance and Banking, Infastructure, and Oil and Gas.
As the need for transport increases due to better job opportunities in urban areas, the automobile industry is also growing and with that the need for affordable housing.
Solar Power is also a sector that is becoming more and more important as sustainable power is becoming a challenge especially in highly populated and urban areas.
“In my opinion, the two main developments are digital enablement and financial inclusion. Managing your finances at any time from anywhere has become the norm. However, financial services have to be accessible in rural areas as well – that is why we have recently invested in the revamping of our regional offices so that we can serve our members better in the areas where they work and live. Major banks have also expanded their physical presence in the last few years by opening more regional branches,” he concluded.
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