SA SHOULD do more to open up its economy to businesses from the rest of Africa to improve its own growth rate, says Ghana Trade and Industry Minister Ekwow Spio-Garbrah. "If SA’s growth rates are to increase then competitiveness and openness must be part of the game," Spio-Garbrah said at an intra-Africa business meeting in Ghana this week. "SA tends to be a more protected economy compared with other African countries. They don’t easily license banks, there are four or five main street banks," he said. Ghana, which has 33 licensed banks, hosted Standard Bank’s West Africa transregional conference this week, bringing together business banking customers from across the continent to learn about operating in the region. It follows a similar East African conference held in Kenya in April. "There is truth in what he [Spio-Garbrah] said insofar as we as Standard Bank have not actively sought opportunities for companies in the continent going into SA," said Standard Bank Africa’s personal a...
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