Sanlam Private Wealth, in collaboration with the South African Chamber of Commerce, hosted an event on 15th November 2023 at Les Suites by The Docks, Port Louis. This gathering, serving as a convergence point for finance and investment professionals, delved into the theme “The Global Economy in 2023 and what to expect in 2024,” with a keynote presentation by Arthur Kamp, the Chief Economist at Sanlam Investments.
Mark Muller, Director of Sanlam Private Wealth, expressed during an interview the strength of the ongoing partnership: “Our collaboration with the South African Chamber has been incredibly fruitful over the past three years. It’s a relationship that enhances connections within various business communities. We’re especially excited to have Arthur Kamp, the Chief Economist at Sanlam Group, join us to offer his perspectives on the global and Mauritian economies.”
Bilal Adam, President of the South African Chamber of Commerce, noted in his address the significance of Kamp’s participation: “We are pleased to welcome Arthur Kamp to the South African Chamber of Commerce’s Macroeconomic Outlook for 2024, an event proudly sponsored by Sanlam. Arthur’s deep insights into the expected trends and challenges in the markets of 2024 are invaluable to us. His expertise is particularly pertinent for our diverse audience, which includes members from the American, Chinese, and French Chambers, as well as OSCHEM. We’re truly grateful to Sanlam for making this informative session possible.”
As the keynote speaker for the event, Arthur Kamp, Chief Economist at Sanlam Investments, discussed the challenges posed by inflation and the lack of indications that fiscal policy would correct itself anytime soon. He highlighted the disruptions in supply chains due to the pandemic, leading to a supply-side shock and pressure on prices, exacerbated by expansive fiscal and monetary policies in developing economies.
Kamp emphasised the global implications of rising interest rates: “We’re above the equilibrium rate, which could slow growth. The benchmarking of the global risk rate, the US interest rate, has undergone a big change. For years we’ve had negative to no global interest rates. We’ve moved into a different phase now.”
Discussing global currency dynamics, Kamp raised questions about the dollar’s future as the reserve currency and pointed out the challenges faced by Europe and China in this context. He provided insights into the economic trajectories of India and China, noting China’s slowing economy due to high capital stock and continuous investment, contrasting with India’s growth potential.
The event concluded with an interactive Q&A session, allowing attendees to delve deeper into specific economic concerns and predictions for 2024. This session is a testament to Sanlam Private Wealth’s commitment to providing valuable insights and equipping individuals and businesses with the knowledge and tools needed to navigate the ever-evolving economic landscape.
About Sanlam Mauritius
Founded in 1981 and evolving into Sanlam Mauritius in 2010, the company is a prominent non-life insurer headquartered in Port-Louis with branches across Mauritius. Focused on serving individuals, professionals, and multinationals, it is renowned for its customer-centric approach and a diverse range of tailored products. Drawing on over 38 years of expertise and the extensive experience of its principal shareholder, Sanlam Group, Sanlam Mauritius aims for market leadership by introducing innovative solutions and maintaining high standards in corporate governance and community commitment. Visit their website at: https://www.sanlam.co.mu/en/sanlam-mauritius
