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Deputy President Shipokosa Paulus Mashatile: JP Morgan

Managing Director, Andre Ross;
Ministers and Deputy Ministers;
Executive Director Head of Subsidiary Banking Sub-Saharan Africa, Hemisha Lakhoo;
JP Morgan executives;
Distinguished Guests;
Ladies and Gentlemen;

I am delighted to welcome you all to this JP Morgan-hosted event, where we come together to discuss the crucial topic of collaboration to improve the financial sector.

In today's rapidly evolving landscape, collaboration is not just an option but a necessity for driving innovation, fostering growth, and ensuring the sustainable development of the financial industry.

As we look around us, we see how interconnected and interdependent the global financial ecosystem has become. No longer can any single entity, whether it be a bank, a fintech company, a regulatory body, or a government, hope to address the complex challenges we face on its own. Collaboration is the key to unlocking new opportunities, mitigating risks, and delivering better outcomes for all stakeholders involved.

As government, we firmly believe in the power of collaboration. By working together with our industry partners, regulators, and stakeholders, we have been able to drive positive change, innovate our products and services, and create value for our customers. However, we acknowledge that we still have a significant amount of work ahead.

Today, I urge all of us to commit to a more collaborative approach in tackling the pressing issues facing the financial sector. Whether it is enhancing cybersecurity measures, promoting financial inclusion, or developing sustainable investment strategies, we must be willing to share knowledge, resources, and expertise to achieve our common goals.

Let us remember that collaboration is not just about working together; it is about leveraging our collective strengths, embracing diversity of thought, and building trust and transparency in everything we do. By fostering a culture of collaboration, we can drive positive impact, foster innovation, and create a more resilient and inclusive financial sector for all.

This engagement is aimed at strengthening bilateral trade and investment relationships between UK and South Africa, focussing on growth opportunities. The global economy is rapidly evolving; therefore, adapting and innovating are crucial to seizing these opportunities. 

The focus is on understanding the potential for growth in the global economy. It is our responsibility as leaders in our various regions to cultivate an environment that promotes entrepreneurship, stimulates innovation, and propels inclusive prosperity.

South Africa is committed to creating an enabling business environment that attracts investment, spurs economic development, and creates the much-needed job opportunities. We understand the significance of collaboration with countries like UK, which share our values and aspirations for a better future.

As a country, we want to enhance our exports of valuable goods and services to UK. It is admirable that the two countries already trade in food and beverages. However, I m

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