Banker S.A. December 2012 | Page 11

Of course if South African companies must expand, Asia and the Middle East are also crucial locations for growth. to participate in the trade corridors between these regions. It is not an option, but an imperative, as these corridors will spur valuable growth going forward, states Essoka. Invicta Holdings and Mediclinic are examples of South African companies that have positively positioned themselves in these regions. Standard Chartered was the industrial firm Invicta’s exclusive financial advisor in the recent acquisition of Kian Ann Engineering in Singapore – this acquisition looks set to boost Invicta’s revenues by an impressive 20%. Standard Chartered also supported Mediclinic’s completion of their acquisition of the UAE’s Emirates Health. ‘It is examples like these that support the transformation of South Africa’s economy – improving the country’s competitive edge and positioning South Africa as a global player,’ notes Essoka. According to Essoka, we are spoilt for statistics when highlighting the benefits of operating in the Asian and Middle Eastern trade corridors. ‘Take Africa and China, for example: trade between these two regions has grown 15-fold in the past decade to reach $166 billion in 2011, and is expected to increase a further three-fold over the next 10 years. China’s trade with Africa has not slowed as much as its trade volumes with other regions – yearon-year China still continues to increase its trading with Africa.’ Essoka believes that a shift in “economic gravity” from West to East is of great importance to South Africa, and the country must be well-positioned to take advantage of this emerging global dynamic. Writes Beth Shirley ■ Ebenezer Essoka has over thirty years of banking experience behind him