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| South African president Thabo
Mbeki |
It was a striking coincidence. On the same day in early
July, two events were taking place on two continents that
encapsulate the dilemma faced by South Africa's top banks.
In Durban, South African president Thabo Mbeki, was hosting the
inauguration of the African Union (AU) - outlining a vision that
proposes South Africa as the powerhouse for an economic renaissance
of the African continent.
Despite the unsettling presence of Muammar Gaddafi and Robert
Mugabe, African leaders were pledging themselves to a new era of
governance, accountability and cooperation - using the AU and the
New Partnership for African Development (Nepad) to launch a drive
to bring prosperity and growth to a continent racked by poverty and
misery.
Five thousand miles away, in London, Stephen Kosseff - the chief
executive and founder of Investec, South Africa's fifth-largest
banking group - was outlining a rather different vision for his...
