Press Release : Africa Financial Summit - AFIS 2024. Time to mobilise the continent financial's power.

Press Release : Africa Financial Summit - AFIS 2024. Time to mobilise the continent financial's power.
12 Nov 2024
  • On December 9-10 in Casablanca, Morocco, the Africa Financial Summit – AFIS 2024 will bring together over 1,000 leaders from the African financial sector, policymakers, and regulators.
  • AFIS 2024 will focus on the structural reforms needed to strengthen the resilience of Africa’s financial sector and remove barriers to financing the continent’s economies.
  • More than 200 senior executives from banks, insurance companies, capital market operators, and fintech leaders are expected, along with around fifty Ministers of Economy and Finance, central bank governors, and Presidents of Insurance and Capital Markets authorities.

Casablanca, Kingdom of Morocco, November 12 2024 – Amid an unprecedented reconfiguration of the African financial industry, the Africa Financial Industry Summit (AFIS) 2024 will bring together private sector leaders and government representatives from across the continent and around the world with one goal: to develop strategies that enable African finance to become a driver of development, economic growth, and resilience.

The event, founded by Jeune Afrique Media Group in 2021, co-hosted by the International Finance Corporation (IFC), hosted with the with the Ministry of Economy and Finance and Bourse de Casablanca will take place this year in Casablanca, Morocco, from 9 & 10 December under the theme: “A New Era: Time to Mobilise Africa’s Financial Power.”

Despite the resilience it has demonstrated in the context of repeated exogenous crises, Africa must find within itself the resources to meet its immense financial needs. To achieve this, it needs to implement bold, long-term strategies and reforms aimed at modernizing and strengthening its financial industry. Strong leadership from regional champions, pan-African actors, and regulators will be essential to ensure the continent’s financial and economic prosperity and to enable it to take its rightful place within the global economy.

Amir Ben Yahmed, CEO of Jeune Afrique Media Group and President of the Africa Financial Summit – AFIS, highlights the significance of this moment: “Africa stands on the brink of a financial revolution marked by the rapid emergence of an indigenous industry. With the departure of major international players, the African financial sector must rise to the challenge of meeting the continent’s needs independently. AFIS 2024 is not just a platform for discussion; it is a laboratory for making bold decisions to build a world-class financial ecosystem.”

Sérgio Pimenta, IFC Vice President for Africa, said, “From job creation, MSME financing, and the energy transition and climate change to agriculture and digitalization, mobilizing the full strength and potential of Africa’s financial sector is critical to accelerating the continent’s development. Amid a rapidly evolving global financial landscape, IFC is once again co-hosting AFIS, and we are delighted that this year’s event is being held in Morocco, a country where the public and private sectors are committed to establishing an influential regional and global trade and finance center.”

Her Excellency Nadia Fettah Alaoui, Minister of Economy and Finance of Morocco, the host country of AFIS 2024, said: “It is only natural for Morocco to host an event like AFIS, a unique platform in Africa that promotes a unified vision for financial inclusion and institutional partnerships at the pan-African level. Strategically located at the crossroads between Europe and Africa, with strong financial institutions and deep knowledge of the continent’s markets, Morocco is determined to fully embrace its role in the reshaping of the African financial industry.”

AFIS 2024 will focus on five key priorities to promote the necessary transformations:

  • Creating banking products and capital market solutions to channel local savings into productive investments, fueling growth and development;
  • Facilitating payment interoperability, reducing the cost and time of cross-border transactions, and fostering the development of trade between African countries;
  • Strengthening capital requirements for financial institutions, consolidating the industry, and encouraging partnerships with international financial centers;
  • Bringing financial products to the informal workforce, which makes up 83% of Africa’s economy, by leveraging digital channels to offer insurance and banking services;
  • Building a Pan-African stock market, tackling market fragmentation, and boosting intra-African investment, creating a truly integrated financial ecosystem.

African Financial Leaders to Convene

This 4th edition of AFIS will feature influential leaders, including Aida DIARRA (Senior Vice President and Head of Sub-Saharan Africa, VISA); Aigboje AIG-IMOUKHUEDE (Chairman, Access Bank); Abderrahim CHAFFAI (President, Autorité de Contrôle des Assurances et de la Prévoyance Sociale – ACAPS); Idrissa NASSA (CEO, Coris Bank International); Edward KNIGHT (Executive Vice Chairman, Nasdaq); Jean Kacou DIAGOU (President and Founder, NSIA); Jeremy AWORI (CEO, Ecobank); Jules NGANKAM (Group CEO, African Guarantee Fund); Mohamed BAH (CEO, SUNU); Mohamed EL-KETTANI (CEO, Attijariwafa Bank); Nezha HAYAT (President, Autorité Marocaine du Marché des Capitaux); Olusegun ALEBIOSU (Managing Director/CEO, First Bank of Nigeria); Prof. Benedict ORAMAH (President & CEO, Afreximbank); Serge EKUÉ (President, BOAD); Mohamed HORANI (Chairman, HPS); Sidi OULD TAH (President, BADEA); Tarik SENHAJI (CEO, Bourse de Casablanca).

In addition to these leaders, 18 Ministers of Economy and Finance and 13 Central Bank Governors, including H.E. Adama COULIBALY, Minister of Finance and Budget, Côte d’Ivoire; Hon. John MBADI NG’ONGO, Cabinet Secretary, National Treasury and Economic Planning of Kenya; Mamo MIHRETU, Governor, National Bank of Ethiopia; Dr. Denny H. KALYALYA, Governor, Bank of Zambia; Aivo ANDRIANARIVELO, Governor, Central Bank of Madagascar; and Jean-Claude Kassi BROU, Governor, BCEAO, will also participate.

Join us in Casablanca on 9 and 10 December 2024 for more than 30 high-level panel discussions, debates, and industry-focused roundtables, marking the beginning of a new era for African finance.

Find our program and speakers for AFIS 2024: afis.africa/2024

Programme: www.afis.africa/en/afis-2024/programme/  

Speakers: www.afis.africa/en/afis-2024/speakers/

About the Africa Financial Summit – AFIS

Founded by Jeune Afrique Media Group in 2021, with the support of the IFC (World Bank Group), AFIS is a sister organisation to the Africa CEO Forum, the leading platform for Africa’s private sector. AFIS aims to build a robust financial industry that serves the real economy and sustainable development. Bringing together the most influential figures and institutions in African finance, as well as regulators, AFIS works to enhance financial inclusion and foster the emergence of a truly pan-African financial services industry.

About the International Finance Corporation – IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit  www.ifc.org/en/home.

Stay Connected with IFC on social media.

About the Kingdom of Morocco: “Focus on Casablanca”

Morocco has a well-developed financial sector, contributing significantly to its GDP. Initiatives such as the national financial inclusion strategy and the launch of the Mohammed VI Fund for Investment demonstrate the country’s commitment to expanding access to financial services. Strategically located at the crossroads of Europe, the Arab world, and Africa, Casablanca facilitates access for participants from these regions, fostering transcontinental collaboration. The city plays a key role in positioning Morocco as the 5th largest economy in Africa, with a GDP of $143 billion. Casablanca’s robust financial infrastructure also ranks Morocco 5th among African countries in terms of foreign direct investment (FDI). Additionally, three Moroccan banks were among the top 10 African banks in 2023, while its insurance and asset management sectors, as well as its stock market, rank second in Africa, reinforcing the country’s influence in the continent’s financial sector. With its strong financial sector, Casablanca embodies the resilience of the Moroccan economy, whose performance is impressive.

Press Contacts

Elodie MBIDA | [email protected]

Abdoul Maiga | [email protected]

TAZI Kenza | [email protected]