MD’s Message
Uniting South
Africa around a
common vision to
achieve prosperity
and equity
T
he year 2012 is coming to a close, and as we approach
2013, we continue to grapple with our role as
individuals and society in addressing the country’s
critical challenges and enabling South Africa to
reach its full potential. The country will be, to some
extent, engulfed in the robust debates, disputes, engagements and,
sometimes, battles leading to Manguang. However, we need to rise
above that and come together around a common vision and plan
for the country. I believe the National Development Plan (NDP) is
that vision and plan! South Africa still faces three major challenges,
namely, poverty, unemployment and inequality.
The recent Census data, as provided by Statistics South Africa,
suggests that much progress has been made since 1994, but that the
three challenges still exist, and in the case of inequality, the trajectory
points to worsening disparities. The country now needs to address
the human development challenges of education, infrastructure,
health, inequity, and so forth. While also implementing the hard
decisions, we need to promote investment and economic growth.
I am convinced the NDP gives all sectors of South African society
the platform on which to collaborate around a common vision to
address these challenges.
Its release elicited widespread support among divergent groups
such that every stakeholder in SA Inc. has had to reflect on what role
they might play to ensure that South Africa succeeds. This broad
acceptance is an indication that the NDP has transcended politics and
ideology to concentrate on the real hard issues facing the country.
The two key challenges though are to ensure leaders in government,
business, labour and broader civil society lead by example, and that
the same common spirit that characterised the formulation of the
NDP informs the implementation phase. All South Africans must,
together, be seized with the question of how we can contribute to
the realisation of the six NDP priorities, namely:
• niting all South Africans around a common vision and
u
programme to achieve prosperity and equity;
• promoting an active citizenry to strengthen development,
democracy and accountability;
• bringing about faster economic growth, higher investment and
greater labour absorption;
• focusing on key capabilities of people and the state;
• building a capable and developmental state;
• encouraging strong leadership throughout society to work
together to solve problems.
For its part, the banking industry is looking at innovative ways
of responding to the calls as espoused in the NDP, and to make its
contribution to enabling South Africa to achieve sustainably high
growth rates that must result in equity and development. We will
also invite commentators to express their views on the NDP through
this magazine, so that public debate on the plan and vision inspire
innovation, effort and inspiration.
For the banking industry, the formulation of the country’s vision,
through the NDP, is an important development indeed. One of the
key areas in the NDP is arresting the decline in infrastructure as well
as the infrastructure needs that have arisen as a result of economic
and population growth. The Banking Sector held a Banking
Summit in August 2012 to explore innovative ways of financing
infrastructure. Post-Summit, the banking sector, the Development
Bank of Southern Africa, the Department of Public Enterprise
and ASISA have held discussions to give practical meaning to
infrastructure financing where the commercial banking sector, the
Development Finance institutions and the government clearly spell
out different, but complimentary roles in innovative infrastructure
financing models.
As this is our last edition for 2012, The Banking Association South
Africa would like to wish you a happy festive, and a prosperous
2013.
Cas Coovadia
Managing Director, The Banking Association South Africa
Edition 4
BANKER SA
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