Daniel Mminele: Economic prospects for 2017

Address by Mr Daniel Mminele, Deputy Governor of the South African Reserve Bank, at the networking lunch co-hosted by the South African German Chamber of Commerce and Industry, the Eastern Cape Economic Development Corporation and the East London Industrial Development Zone, East London, South Africa, 24 February 2017.

1. Introduction

Good afternoon, ladies and gentlemen.

And to the co-hosts of this networking lunch, allow me to express my gratitude for creating the opportunity for us to interact today. It is not often that I find myself in the Eastern Cape, addressing a business gathering such as this one.

I was intrigued to learn a few things about this city, such as the fact that it is home to the only dodo egg in existence and that a remarkable number of our national sports heroes hail from here. The German influence is also quite evident, as reflected by some of the names given to the suburbs and surrounding towns, such as Berlin and Hamburg.

Today I would like to engage you on economic developments and some of the main themes which I believe will shape the year ahead for the global and domestic economy. But before I do that, I would like to briefly touch on conditions in this region.