Program 2024
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(GMT+1)CDG Side Event | The Caisse de Dépôt Model in Africa: Mobilising Domestic Financial Resources for Economic Growth and Sustainable Development
In Africa, the need for long-term financing solutions has become essential to addressing pressing development goals, from infrastructure and climate resilience to sustainable growth. The “Caisse de Dépôt” model plays a pivotal role in channeling domestic financial resources toward these critical areas, contributing to economic resilience, and addressing climate challenges.
This private session will involve our distinguished panelists who will discuss ways African deposit funds can drive sustainable finance, prioritize investment in climate and growth sectors, and leverage public mandates to foster innovative financing models. The event will conclude with an interactive Q&A session and a networking reception.
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(GMT+1)Side Event Capital Markets | Developing Market Liquidity: What New Products and Markets to Offer Investors?
The African financial market is undergoing significant transformation, with a market capitalization of approximately $1 trillion in 2023, experiencing annual growth of 5% to 10% in certain regions. In 2022, bond issuances in sub-Saharan Africa exceeded $30 billion, reflecting a growing interest in debt as a financing tool. Despite this momentum, challenges remain in terms of access and transparency.
What new products and regulatory innovations could amplify this growth and attract more investments?Key Points :
- What strategies are essential for a successful launch of the futures market, and how can it boost liquidity?
- How can regulatory reforms support liquidity and attract long-term capital?
Securities lending as a lever for market growth. - The role of ETFs in enhancing liquidity and diversifying investment options.
- Listing mutual funds in the WAEMU region: What are the prospects for improving investor access to financial products?
SpeakerEmomotimi John AGAMA
Director General, Securities and Exchange Commission, Federal Republic of Nigeria -
(GMT+1)New International Economic Order: Where do African financial institutions weigh in?
To defend African interests and strengthen its position in the global financial landscape, the African Union convened the continent’s multilateral heavyweights to join the ‘Africa Club’. With its capital of $65 billion, the Africa Club aims to leverage its combined influence to reform the global financial architecture, while encouraging the mobilisation of funds nationally and regionally. Can these efforts at emancipation survive pressure from international institutions seeking to maintain the status quo, or even strip Africa Club members of their privileged creditor status?
Key points:
- Following 50 years of attempts to reform the international financial architecture, how is Africa now better placed to defend its interests?
- African resource mobilisation: How can global taxation reform, savings rates, and new sources of catalytic capital move the needle?
- Governance: What strategies can be implemented to promote collaboration among the institutions of the Africa Club?
SpeakerMahmoud MOHIELDIN
UN Special Envoy on Financing the 2030 Sustainable Development Agenda, GFANZ Africa Advisory Board Chair, Africa Capital Hub Advisory Board Chair -
(GMT+1)The role of stock exchanges in accelerating the climate transition
Access via sign-up on the event app or by invitation only.
Green bonds have become a widespread practice globally for financing green projects, reaching $588bn in 2023, but bond issuance in Africa remains low ($2bn in 2023), and highly concentrated in a few countries. Last year, the AfDB issued four green bonds totalling $517m, the Tanzanian government issued a $20m bond, and Nedbank issued a green bond of around $118m. Certain governments are taking actions but face an uphill task to mobilise green bond capital. A roundtable of supranational institutions, capital market players, commercial banks and public sector representatives discuss how to accelerate successful green bond issuance on Africa’s stock exchanges.
Key points:
- How can financial markets promote the structuring of green bonds to state-owned enterprises and corporates?
- What’s needed to enhance green bond regulatory frameworks?
- How could Africa’s green finance products be more attractive to global investors?
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(GMT+1)Disrupters Club | Eliminating bottlenecks in the $40bn embedded finance space
Access via sign-up on the event app or by invitation only.
Africa and the Middle East’s industry to embed payments, credit, savings, investing and insurance products on non-financial platforms is set to almost triple in value by 2029 to around $40 billion. South African retailer Woolworths saw profits in its financial services segment double in FY 2024, through a joint venture with Absa offering in-store credit, credit cards, personal loans and short-term insurance. Embedded finance could bring essential services to the underbanked, but the segment remains constrained by fragmented regulatory frameworks, inconsistent digital infrastructure, lengthy licensing procedures and challenges integrating with legacy systems. In a closed-doors roundtable, traditional financial players, fintechs and regulators discuss developing a regulatory environment to capitalise on a booming sector that could revolutionise financial inclusion.
Key points:
- From telco to e-commerce platforms: Overcoming tech hurdles to embed exciting financial products in digital consumer channels
- Streamlining approvals and oversight for embedded finance: Balancing consumer protection with efficient licensing processes and a purpose-built regulatory framework
- Winning consumer trust: Developing a strategy for widespread adoption
ModeratorMayowa KUYORO
Partner and Head of Fintech and Payments for East Europe, Middle East, and Africa , McKinsey & Company -
(GMT+1)AgTech: Financing the transformation of Africa’s agriculture and food systems
Africa needs to significantly improve productivity in its food value chains to meet the current and growing demand of an increasing population and achieve food security. Agricultural Technology (agTech) presents an opportunity to transform agriculture and food systems in Africa in the way Fintech has transformed financial inclusion in the past decade. AgTechs connect smallholder farmers to mechanization, quality inputs, and a range of digital services to improve farming, making it possible to de-risk, reduce the cost of servicing, and increase the productivity of small-scale agriculture to a point where it can be financed commercially, with support from blended finance along the way. How can policymakers, regulators, agTech companies, and the financial industry create the ecosystems needed to transform Africa’s agriculture and food systems, and generate domestic revenues for African countries?
Key points:
- What types of financing models can effectively close the funding gap, enhance resilience and productivity for smallholder farmers, and simultaneously de-risk investments for financiers?
- What types of partnerships have been most successful in scaling agri-finance solutions and what are the opportunities for replicating and scaling these across different African countries?
- How can policymakers encourage private-sector investment in agTech and create a supportive environment for agri-finance innovations?
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(GMT+1)Networking Break
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(GMT+1)Side Event | Mobilizing Resources for Financing African Economies: The Role of Structured Finance
Addressing Africa’s development needs requires innovative approaches to structured finance. With an annual infrastructure deficit of $108 billion, tools such as securitization, ESG bonds, and blended finance are key to mobilizing local and international capital. For instance, capturing 1% of global institutional assets could inject $2 trillion into the continent. In Senegal, Invictus Capital & Finance has structured significant initiatives, including a $120 million SONATEL securitization bond, a $300 million “Trade Loan” program for food security, and an $80 million bond for a strategic project at the Port of Dakar.
This panel will explore the potential of these models to mitigate risks and support sustainable growth in Africa.
Key points :
- How can these financing models be tailored to address the unique challenges and opportunities of African markets?
- What specific risk-sharing instruments can boost investor confidence and improve project viability?
- How can structured finance accelerate Africa’s progress toward its key development priorities
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(GMT+1)Beyond restructuring: How to build an equitable architecture for African debt?
Africa faces the highest external public debt borrowing and servicing costs in the world, with debt service obligations of $163 billion this year. According to a number of experts, this is partly due to an unfairly inflated perception of credit risk and inappropriate international banking rules. At the same time, restructuring mechanisms such as the G20 Common Framework are proving ineffective, as seen in Ghana, Zambia and Ethiopia. With the African Union calling for more concessional financing from multilateral banks, how can creditors and debtors work together to stem the tide of defaults?
Key points:
- Paris Club and G20 Common Framework: What reforms are needed to make restructuring mechanisms fairer?
- Special Drawing Rights, capital increases, local currency loans, liquidity support: How can the IMF and multilateral banks contribute to more favourable financing?
- Pan-African rating agency, Big Three reforms: How to correct the African risk premium
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(GMT+1)Data-driven microfinance: What more can institutions and banks do to elevate impact?
Access via sign-up on the event app or by invitation only.
With one of the most extensive points of sale and agent networks in the continent (e.g. 1,700 PoS in Morocco), microfinance institutions are hindered by heavy reliance on physical infrastructure. Partnerships with traditional institutions could diversify microfinance offerings (e.g. savings, payments, insurance), yet micro-lending prevails as the focus for low-income populations. High allowable microfinance interest rates, face growing scrutiny over their poverty reduction impact. As African regulators seek to enhance microfinance institutions’ role, a roundtable of stakeholders assesses how to better serve the low-income segment.
Key points:
- Moving from people-intensive distribution models to a leaner digital and data-based approach
- Achieving lower interest rates through expanded AI & machine learning credit scoring
- Using micro-credit as an anchor to serve consumer micro-savings & micro-insurance needs
SpeakerDr. Gebriel IBRAHIM MOHAMED
Minister of Finance and Economic Planning, Republic of the Sudan -
(GMT+1)CEO Talk | Building African banking powerhouses in global financial hubs
Following international banking exits across African markets, continental banks have an historic opportunity to become truly global banks in key financial centres, from London to Hong Kong. Such an expansion could mobilise funding and foster cross-border trade to Africa, yet few African banks have made this leap. Companies like Access Bank, First Bank of Nigeria and Bank of Africa are exceptions. The former recently raised $1.8 billion to expand globally with eyes on US market entry by 2026. CEOs of top African banks discuss the strategic imperative of global expansion.
Key points:
- Navigating regulatory hurdles for banking licenses and local compliance
- Correspondent banking: Can African banks really be viable alternatives to international banks?
- What business models will help African banks succeed internationally?
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(GMT+1)Side Event | PAPSS: Rollout Updates, Country Case studies and New Product
Without payment, there is no trade! Designed to facilitate efficient cross-border payments in African currencies, the Pan-African Payment and Settlement System (PAPSS) supports the implementation of the African Continental Free Trade Area (AfCFTA), aiming to transform the financial landscape of the continent. As we approach the three-year mark, significant strides have been made in PAPSS’s implementation across various African countries. This overview delves into the system’s deployment across African countries, sharing case study in pioneer countries, and introduces a groundbreaking product recently piloted to address corporates facing challenges with movement of funds across the continent. Where are we today on the rollout of PAPSS? What are the challenges? What possibilities does this new product open up for businesses across Africa?
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(GMT+1)Women in Finance Workshop | Future-proof training: Up-skilling women for the evolving digital landscape
Access via sign-up on the event app or by invitation only.
Women are significantly underrepresented in Africa’s fintech scene, making up only 27% of roles across the continent, and even less in leadership positions. Only 3.2% of fintech firms are female-led and despite a growing wave of female entrepreneurs, there is a persistent gender gap in access to crucial resources and sector-specific training. From mastering blockchain for secure payment systems to harnessing AI for personalised banking solutions, what skills and support do women need to be at the forefront of fintech’s future and to break through leadership barriers?
Key points:
- Bridging the skills gap: What targeted educational programs and mentorship networks can equip women to lead in Africa’s growing fintech ecosystem?
- Building inclusive fintech ecosystems: How can innovative partnerships between financial institutions, tech firms, and women’s organisations create a supportive environment for female fintech entrepreneurs?
- Championing female leadership: What role does sponsorship play in advancing women into leadership positions within fintech, and how can these networks be strengthened?
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(GMT+1)Capital markets: Connecting the dots between investors and issuers with fintech
Access via sign-up on the event app or by invitation only.
GenZ investors are increasingly turning to low-entry-point investment apps like Trove, Bamboo, and Cowrywise. These platforms provide AI-driven insights and access to African stocks, bonds, and mutual funds, potentially boosting capital markets. Commercial banks could adopt similar models through fintech partnerships, but few have acted. Widespread investment scams and limited financial literacy threaten the adoption of existing apps. Almost no regulatory guidelines specific to investing apps exist, forcing fintechs to rely on decades-old broker regulations that overlook key issues like cross-border investing. A roundtable of fintechs, regulators, and capital market stakeholders lay out the groundwork for digital investing to achieve critical mass.
Key points:
- Developing a digital investment culture: Drawing in investors and issuers
- Building scale: Enticing traditional banks to embed digital investing products
- From sandboxes to regular fintech-regulator dialogue: What should bespoke, co-created regulatory guidelines for investing apps look like?
SpeakerEmomotimi John AGAMA
Director General, Securities and Exchange Commission, Federal Republic of Nigeria -
(GMT+1)SWIFT alternatives: Fuelling faster and cheaper international payments
Access via sign-up on the event app or by invitation only.
Stable coins, PAPSS, regional payment systems like Buna, fintech providers, a BRICS payment system, blockchain and CBDCs have all been put forward as alternatives to SWIFT, the world’s dominant method to facilitate cross-border payments. These options offer possibilities to tackle inconsistent and often high fees charged by financial institutions to businesses under SWIFT, and to reduce the up to five days settlement time. Could the many alternatives create a fragmented landscape that will cause interoperability challenges, or will multiple solutions stimulate innovation and cater to different types of cross-border transactions? Regulators, and SWIFT alternative providers, banks, and fintechs discuss how to achieve a thriving cross-border payment environment for Africa.
Key points:- Craving compatibility: How to ensure interoperability between the many cross-border payment system infrastructures?
- Role of regulation: How can AfCFTA facilitate technical coordination and regulatory cohesion between central banks and national regulators with independently designed payment platforms?
- CBDCs, fintechs and cryptocurrencies: With so many payment options, where do these new players fit into the equation and how are they transforming cross-border payments?
ModeratorMayowa KUYORO
Partner and Head of Fintech and Payments for East Europe, Middle East, and Africa , McKinsey & Company -
(GMT+1)How can commercial banks build a climate agenda with real impact for Africa?
Dominated by international funders and development banks, African climate finance faces an estimated annual funding gap of $250 billion – a gap that African commercial banks could help bridge. Increased participation from these banks could mobilise domestic and regional resources, optimise private sector capital reserves, and more effectively direct funding towards local projects. However, a lack of experience in climate data capturing and modelling processes poses challenges for African groups. Following in the footsteps of the African Green Banks Initiative, how can collective and pan-African strategies be implemented?
Key Points:- COP, the Marrakech Declarations, the African Green Banks Initiative: How are African banks taking the lead?
- Stress tests, solvency rules, macro and micro-supervision: How can regulators and supervisors better support banks?
- Bankable projects and local initiatives: Are commercial banks having real impact?
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(GMT+1)Turning consumer savings into productive investments via capital markets
Access via sign-up on the event app or by invitation only.
Channeling Africa’s savings into productive investments that drive economic growth remains a critical challenge. Success stories like M-Pesa in Kenya, and South Africa’s Tax-Free Savings Accounts (TFSAs) have increased financial inclusion, and abroad Singapore’s Central Provident Fund (CPF) and India’s Systematic Investment Plans (SIPs) have channeled massive savings by providing citizens with accessible investment options. But many commercial banks are hindered by regulatory constraints. How can this challenge be addressed from both sides: providing a strong regulatory framework that protects investors’ interests while encouraging innovation towards diversified, user-friendly and accessible investment platforms?
Key points:
- Incentives and tax benefits: How can governments further encourage investments in capital markets?
- Financial literacy: How important are digital tools like robo-advisors to help consumers understand the benefits and risks of investing in capital markets?
- What is the role of regulation to strengthen customer protection and oversee market conduct?
SpeakerPhilip K. CHITALU
Secrétaire et Directeur Général, Securities and Exchange Commission - Zambia -
(GMT+1)Conversation With | Balancing economic and social reforms
Social safety nets like universal healthcare require financing. Ambitious projects, like those undertaken by the Moroccan National Social Security Fund (CNSS) illustrate the challenges and opportunities of aligning financial investments with social development initiatives. Understanding this delicate balance between financial considerations and social development goals is imperative to create strategies for sustainable and inclusive growth for the continent. A conversation with Hassan Boubrik, Managing Director of CNSS looks at best practices, and successful partnerships between the private, public and non-profit sectors.
ModeratorRiadh NAOUAR
Manager of Upstream and Advisory Services, North, West and Central Africa, IFC -
(GMT+1)Cracking the code on expanding insurance to the informal sector
Embedded insurance on mobile money and banking apps holds vast potential to expand access to health, crop, and personal accident cover for informal workers, 83% of Africa’s workforce. While partnerships are growing in the space, insurers are still grappling with tech integration hurdles, data gaps on informal sector risks, pricing strategies for a segment with irregular incomes, and complex multi-regulator compliance with central banks, insurance, and telco regulators. Banks and telcos are meanwhile questioning if the revenue potential outweighs the implementation effort. What critical moves will enable embedded insurance to transform Africa’s sub-3% insurance penetration rate?
Key points:
- Increased uptake and retention: Have embedded products to date met financial inclusion and profit expectations?
- Product design and tech integration: Deepening data on informal sector needs, and streamlining integration with or without insurtech intermediaries
- Harmonised oversight: Achieving convergence on embedded finance across regulators
SpeakerFlorence BOUPDA
Global Sector Manager, Financial Institutions Group (FIG), Banking and Insurance, IFC -
(GMT+1)Networking Break
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(GMT+1)Conversation With | Building African unicorns with global reach
Access Holdings & Coronation Group Chairman Aigboje Aig-Imoukhuede said in September that if Africa aspires to have high-value investor stocks like Apple that have propelled Warren Buffet to stardom “we have to build our own gazelles and unicorns”. Amine Bouabid’s Bank of Africa is championing private sector development particularly in the agricultural, pharmaceutical, automotive, transport and telecommunications sectors with the aim to grow businesses. In an exclusive interview, Mr Aig-Imoukhuede and Mr Bouabid discuss the political and financial infrastructure for African corporations to excel at a global level.
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(GMT+1)Central Bank Governors: Forging a consolidated financial landscape
Nigeria and Kenya are spearheading financial sector consolidation by proposing to increase minimum banking capital requirements tenfold. In other countries, similar initiatives are emerging more timidly. This leaves many markets full of smaller players that lack the means to fund complex, growth-essential projects. How can central banks achieve consolidation without hurting MSME lending in the short term and creating a race for scarce capital that could hurt industry profits?
Key points:- How can central banks optimise capital adequacy for commercial banks?
- Risk-based capital or increased minimum capital: Which approach best protects financial systems?
- Time for tailor-made capital adequacy frameworks for big fintechs and neobanks?
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(GMT+1)Closing Ceremony