When: October 8 - 12, 2007
Where: Cape Town and Johannesburg, South Africa
Although Asian tigers like India, China and Korea dominate the international business headlines, business leaders and investors should not overlook the enduring strength of the corporate climate in Southern Africa. The Johannesburg Stock Exchange index, where world-class multinationals such as Anglo-American, Barloworld and SABMiller are listed, has delivered an annualized return in excess of 25 percent over the past five years (some of the companies listed will be visited during the program). Foreign direct investment is experiencing a sharp jump in inflows, and the IMF predicts that growth in the region will rise to about 6.5% in 2007.
However, foreign firms that want to do business in the region face significant challenges. They have to compete with the strong national champions that emerged from the apartheid era. When the economy opened up following the end of sanctions, the nationals shed non-core assets. This left them cash-rich and with money to invest in new opportunities, which they mainly found abroad. Companies such as Investec and SABMiller have taken leading positions in their global sectors.
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