G20 Solidarity

Rand Merchant Bank (RMB) and FNB are proud to announce their partnership in hosting the G20 Correspondence Desk. This initiative comes as Johannesburg prepares to host the historic G20 Summit, marking the first time an African country has held this global gathering of decision-makers from business and politics.

Nana Phiri, Head of RMB's Corporate Client Group, highlighted the significance of South Africa hosting the B20 (the official business gathering alongside the G20) to promote Africa as a key player in global trade and investment.

This event brings together 19 of the world's largest economies, including the Eurozone and the African Union, to discuss critical policy topics.

The G20 Summit's themes of solidarity, equality and sustainability were discussed, with Phiri asserting that South Africa, with its history, is uniquely positioned to lead these conversations. RMB’s partnership with Liquid Telecom to provide fibre network access in the Eastern Cape is one example of how RMB is demonstrating its dedication to digital transformation for inclusion.

Phiri acknowledged that while the Africa Continental Free Trade Area (AfCFTA) has not realised its full potential yet, there's a renewed push for greater intra-African trade, especially given current global tensions. Phiri highlighted the need for policy reforms around trading borders and cross-border payments to facilitate this.

RMB plays a crucial role in shaping these conversations through its involvement in B20 task forces, including those focused on employment, digital transformation, infrastructure, and trade and investment. The bank aims to connect multinationals looking to invest in Africa and drive foreign direct investment into the continent, particularly South Africa.

This G20 Summit promises to be a significant moment for South Africa and the continent, with RMB and FNB playing a key role in bringing insights and news from this pivotal event.