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Program

AFIS 2022

SUSTAINABLE, BORDERLESS AND DIGITAL – TRANSFORMING FINANCE IN THE AGE OF DISRUPTION

Africa has been at the global forefront of modernising financial services. By expanding world-leading
mobile money operations, taking steps towards offering green finance and more recently introducing Central
Bank Digital Currencies, financial institutions have been building foundations for improved financing of African
economies.

Yet the sector’s sweeping sustainable, borderless and digital transformation is about to take place under extreme volatility that most industry executives have never experienced. In this high-risk macroeconomic environment, the financial industry’s profitability is likely to come under pressure, from deteriorating asset quality, liquidity risks and scarce available capital as well as emerging climate and cyber risks.

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  • (GMT)
    Opening Ceremony
    Room CAURI
    Sérgio PIMENTA
    Speaker

    Sérgio PIMENTA

    Vice President for Africa, International Finance Corporation (IFC)
  • (GMT)
    Conversation With | Ade Ayeyemi
    Room CAURI

    Since he took charge in 2015, Ade Ayeyemi has guided Ecobank to financial stability, significantly reduced NPLs and helped the bank record profitability last year. Under his leadership, Ecobank has diversified its business and rapidly accelerated digital transactions, particularly via B2B payments platform Omni-Plus. As Ade passes on the reins following his impending retirement, he shares his vision on the future of banking on the continent with Bloomberg’s Ramah Nyang.

    Ramah NYANG
    Moderator

    Ramah NYANG

    Business Journalist, CGTN and Bloomberg
  • (GMT)
    OPENING PANEL | Transforming African finance in times of crisis
    Room CAURI

    Africa’s financial industry is set to be shaken by a global economic shock as it undergoes a critical transformation towards digital channels, a pan-African ecosystem and a more socially and environmentally conscious future. Conflict in Ukraine has put a strain on foreign exchange reserves and has sparked significant energy and food price inflation on the continent. Credit and liquidity risks for Africa’s financial institutions are elevated and there may be scarce available capital to close a trade finance deficit (estimated at $81bn for SMEs), adapt to climate change ($30 to $50 billion needed each year over the next decade) and expand financial services. How can the industry deliver a profitable transformation amid the disruptions? 

    Key points:

    • How deeply will global macroeconomic trends affect African finance? 

    • What sustainable and digital transformation will be viable for the sector in the mid-term?

    • How far can Africa really go towards harmonised financial systems? 

    Larry MADOWO
    Moderator

    Larry MADOWO

    Journalist and International Correspondent, CNN
    Sérgio PIMENTA
    Speaker

    Sérgio PIMENTA

    Vice President for Africa, International Finance Corporation (IFC)
  • (GMT)
    STATE OF THE INDUSTRY | Africa Financial Industry Barometer 2022 
    Room CAURI

    Deloitte Africa presents findings from the 2nd African Financial Industry Barometer, a pan-African survey of the continent’s financial institutions, prepared in collaboration with the Africa Financial Industry Summit – AFIS. The Barometer highlights industry attitudes towards evolving business models, the regulatory landscape, inflationary pressures, emerging risks, and the rate of progress towards digital innovation and sustainable finance. 

  • (GMT)
    STRATEGIC ROUNDTABLE | Revamping agricultural finance to tackle food insecurity
    Room NAIRA

    Access via sign-up on the event app or by invitation only

    Africa’s smallholder farmers contribute around 70% of the continent’s food supply but up to 90% lack access to formal credit at a critical time. Conflict between Russia and Ukraine is fuelling food poverty, staple food prices are soaring, while drought has provoked a major hunger crisis in the Horn of Africa. Access to finance is vital to replant and rehabilitate farms, adapt to climate change and raise productivity. Yet farmers can be a high-risk, low-return proposition for lenders and insurers due to lack of financial footprints and often land tenure. A closed roundtable of financial institutions and regulators discusses how to improve options and utilise technologies for this vastly underserved segment.

    Discussion points 

    • Derisking lending: What’s missing in policy, regulation, technology and financial instruments?
    • Interest rates and tenures: Increased flexibility in product offers while remaining profitable
    • Expanding AgTech and FinTech in remote communities
    • The missing pieces to increase insurance coverage 

    Emmanuel HAYE
    Moderator

    Emmanuel HAYE

    Deputy head of the Financial Institutions Debt Group, Proparco
    Serge EKUÉ
    Chair

    Serge EKUÉ

    President, Banque Ouest Africaine de Développement (BOAD)
    Nicolas KAZADI
    Distinguished Guest

    Nicolas KAZADI

    Minister of Finance, Democratic Republic of the Congo
    Bendjin KPEGLO
    Distinguished Guest

    Bendjin KPEGLO

    Managing Director West Africa, African Guarantee Fund
    Nicholas NESBITT
    Distinguished Guest

    Nicholas NESBITT

    Chairman of the Board, Capital Markets Authority of Kenya
  • (GMT)
    PANEL | Mobile money and banks: Are low cost fintechs changing the game?
    Room CAURI

    Low-fee fintech entrants are taking the African market by storm. These disrupters are pushing established mobile money players towards banking partnerships that enable them to diversify revenues beyond transaction fees. With some 173 live mobile money services and 621m registered accounts in Africa by 2021, as well as e-money licenses (Senegal) and credit licenses (Kenya) now issued to digital players without legacy bank involvement, why should commercial banks support potential competitors to gain credit licenses? Can traditional banks, mobile money operators and fintechs come together to forge mutually beneficial synergies?    

    Key points:

    • Interoperability: Growing the appetite for cross-compatible products and licensing partnerships 

    • Devising common principles on data reliability, and fulfilling compliance requirements in licensing deals 

    • AML-KYC safeguards and credit licenses: What should regulators do to ensure a level playing field between banks, fintechs and mobile money providers?

    Rambert NAMY
    Expert

    Rambert NAMY

    Director of Business Consulting, Sofrecom
  • (GMT)
    STRATEGIC ROUNDTABLE | Interconnecting African Stock Markets: Opportunities to expand financial resources
    Room DIRHAM

    Access via sign-up on the event app or by invitation only

    Better interconnection between African capital markets could increase their impact on the real economy. Already underway in several regions of the continent, this evolution could allow public and private sectors to access expanded sources of financing. Diversification of portfolios, reduced transaction costs and risks, and improved profitability are some of the potential benefits for investors. But how can regulatory frameworks be harmonised and cross-border investment encouraged without harming less attractive markets? What technological innovations could optimise information sharing on investment opportunities?

    Discussion points:

    • Exchange rate policies, capital account liberalisation, legal systems: How to harmonise regulatory frameworks and make them conducive to innovation?

    • Online stock exchange, information portals, trading systems: Facilitating access to markets through technology  

    • What specific measures are needed to attract institutional and retail investors?   

    • Partial privatisation, support for SMEs: How to stimulate IPOs?   

    Aminata MBAYE
    Distinguished Guest

    Aminata MBAYE

    Director of Financial Engineering, CGF Bourse
  • (GMT)
    STRATEGIC ROUNDTABLE | Cryptocurrencies: Regulating the outsider of finance
    Room KWANZA

    Access via sign-up on the event app or by invitation only

    Despite financial institutions being prohibited to trade crypto in major countries like Nigeria, cryptocurencies continue to be used by Africans in droves as authorities struggle to enforce regulations that are often rife with grey areas. Africa is among the smallest but fastest growing crypto markets globally as consumers seek ways to secure investments and make faster and cheaper international money transfers. How could this popular medium be integrated into Africa’s financial system while curtailing risks of fraud and speculative trading? This roundtable of central banks decisionmakers, banks and fintechs aims to explore a common approach to regulating crypto. 

    Discussion points: 

    • To what extent should regulators allow financial institutions to engage in cryptocurrencies? 

    • Lessons learnt from nations (US, Canada, UK) that have legalised Bitcoin 

    • Enforcing bans on unlicensed operators or providing a framework for them to operate 

    • Building safer market environments and reducing volatility 

    Wale ABIOYE
    Moderator

    Wale ABIOYE

    Partner Strategy & Customer Solutions, KPMG
    Cina LAWSON
    Distinguished Guest

    Cina LAWSON

    Minister of Digital Economy and Transformation, Republic of Togo
    Nicholas NESBITT
    Distinguished Guest

    Nicholas NESBITT

    Chairman of the Board, Capital Markets Authority of Kenya
  • (GMT)
    PANEL | COP27: What lessons should Africa’s financial institutions takeaway?
    Room CAURI

    The UN Climate Change Conference (COP27) places energy financing on the continent in the spotlight. Renewables could account for over 80% of new power generation capacity to 2030 if Africa follows a sustainable trajectory, leaving ample options, and competition, to finance new renewable energy capacity. Conversely, Europe’s appetite for oil and gas to substitute Russian supplies is rekindling interest in Africa’s natural resources, while the African Union calls on more energy options to achieve universal energy access by 2030. What energy mix and financing policy options for Africa’s financial institutions can best contribute to the continent’s development? 

    Key points:

    • To what extent will COP27 commitments alter the landscape for energy financing in Africa? 

    • What regulatory measures would enable banks and insurers to prioritise renewable energy? 

    • What is the right mix to finance Africa’s energy transition in light of high European demand and African development needs? 

    Ramah NYANG
    Moderator

    Ramah NYANG

    Business Journalist, CGTN and Bloomberg
    Tomi ADEPOJU
    Expert

    Tomi ADEPOJU

    Partner and Head of Enterprise Risk Services/ESG, KPMG
    Nicole ROBOTY
    Speaker

    Nicole ROBOTY

    Minister of the Economy and Recovery, Gabonese Republic
  • (GMT)
    STRATEGIC ROUNDTABLE | Accelerating payments integration: An essential path to success
    Room PULA

    Access via sign-up on the event app or by invitation only

    Financial inclusion, access to social services and formalized economies all rely on modern payment infrastructure that enables trusted, quick and easy transactions. Mobile payments are already a strong alternative to cash in many African countries, and while wholesale payments are still behind, they are accelerating rapidly. This closed roundtable of fintechs, commercial banks and regulators discusses how to reinforce integration of Africa’s payment systems and to encourage African champions in the payments landscape. 

    Discussion points: 

    • Current status of payment integration in Africa (locally, regionally) and lessons learnt 

    • Success stories outside Africa (SEPA model) and in Africa (UEMOA schemes) 

    • Key levers at local level: Regulation, infrastructure, private sector 

    • Key levers at regional & continental level: Regulation, infrastructure, private sector 

    Gilles REANT
    Distinguished Guest

    Gilles REANT

    Senior Advisor Business innovation, HPS
    Tobi AMIRA
    Distinguished Guest

    Tobi AMIRA

    VP of Business Loans, TeamApt
  • (GMT)
    STRATEGIC ROUNDTABLE | Does Africa need Basel III?
    Room DIRHAM

    Access via sign-up on the event app or by invitation only

    From Basel I to Basel III, the implementation of international regulatory frameworks for banks have followed a slow and mixed path in Africa, while being subject to criticism and challenges, notably its suitedness to developing countries. Only South Africa (the sole African member of the Basel Committee of Banking Supervisors) has fully implemented Basel III, with very few countries intending to fully adopt the standard in the short term. A closed roundtable of regulators and commercial banks assesses how suitable Basel standards are for African nations.

    Discussion points: 

    • Should African regulators stop or accelerate the adoption or implementation of Basel III?  

    • What are the main challenges and criticisms of Basel 3 adoption or implementation in Africa? 

    • What are the best practices or alternatives for sounder and adapted capital and liquidity standards for Africa? 

  • (GMT)
    PANEL | Advancing bancassurance and consolidating Africa's fragmented insurance sector
    Room CAURI

    The African insurance industry made solid progress in 2021 with gross premiums up +6.2% YOY. However, insurance density remains low (>100 USD/per capita a year outside South Africa and Morocco) despite rising demand from MSMEs and households due to the pandemic. The main reasons for this are the excessive fragmentation of the sector and a lack of critical mass for many local players. What cards are left in the hands of regulators to encourage consolidation? And how can the sector leverage fintech and grow partnerships with banks (bancassurance) to expand insurance coverage?

    Key points:

    • How could increased partnerships between traditional insurers and fintechs boost financial inclusion? 
    • Tightening capital requirements: A weapon to consolidate the sector?
    • Bancassurance: How might mounting climate, cyber and agricultural risks impact partnerships?

    Alain KANINDA
    Chair

    Alain KANINDA

    Managing Director, Insurance Regulatory and Supervisory Authority (ARCA)
  • (GMT)
    PANEL | MSME Finance: Finding the right recipe to fill the funding shortfall
    Room CAURI

    The pandemic and ensuing inflation-related interest rate hikes linked to the conflict in Ukraine have only amplified financing constraints for the tens of millions of African micro, small-and medium-sized enterprises (MSMEs). With 62% of SMEs in sub-Saharan Africa reporting they cannot access loans, a $330bn funding gap and mainly only short tenures available, governments are innovating to overcome exclusionary banking practices; credit data and collateral challenges; high loan default rates that can rise to 50%; and tax system aversion by MSMEs themselves. How can stakeholders foster greater financial literacy, tax system inclusion, as well as innovative financing options via the likes of securitization, leveraging capital markets, mobile money, and supply chain finance? 

    Key points: 

    • How can lenders be encouraged to back more MSME loans while default risks remain high?  

    • Time to file:  Incentivizing MSMEs to formalize

    • How could deregulation spark new financing models and drive financial inclusion? 

    Aurélie M'BIDA
    Moderator

    Aurélie M'BIDA

    Deputy Editor-in-Chief Business and Finance, Jeune Afrique
    Sani YAYA
    Chair

    Sani YAYA

    Minister of Economy and Finance, Republic of Togo
    Aliou MAIGA
    Speaker

    Aliou MAIGA

    Regional Industry Director for Financial Institutions Group for Africa, International Finance Corporation (IFC)
    Jules NGANKAM
    Speaker

    Jules NGANKAM

    Group Managing Director, African Guarantee Fund
    Nicolas KAZADI
    Speaker

    Nicolas KAZADI

    Minister of Finance, Democratic Republic of the Congo
  • (GMT)
    Conversation With | Nadia Fettah
    Room CAURI

    Morocco’s first female Minister of Economy and Finance Nadia Fettah took up her post in October last year, following a notable career in insurance. She inherits an economy projected to slow in 2022 to +0.8% (versus +7.9% in 2021) due to high dependence on energy imports (90% of needs). Policies to support foreign direct investment, SMEs, and fintechs are on high on the domestic agenda. In an exclusive interview, Mrs Fettah discusses Morocco’s plans to support economic growth, the nation’s financial institutions and their regional expansion. 

    Frederic MAURY
    Interviewer

    Frederic MAURY

    Deputy Managing Director Events, Jeune Afrique Media Group
    Nadia FETTAH
    Speaker

    Nadia FETTAH

    Minister of Economy and Finance, Kingdom of Morocco
  • (GMT)
    STRATEGIC ROUNDTABLE | From COVID-19 to inflation: Central bank strategies in the face of troubled economies
    Room PULA

    Access via sign-up on the event app or by invitation only

    Following the measures adopted during the COVID-19 crisis, central banks are now contending with inflation levels unwitnessed since the 2008 crisis that are likely to last. Central banks have begun initiating restrictive monetary policies by continuous increases to key rates (+75 bp in Europe, the US and South Africa; +150 bp in Nigeria; +50bp in Morocco and BEAC and +25bp for the BCEAO). Central bank measures to curb inflation will almost certainly be tested and stretched in this disruptive period. A closed roundtable of central banks and financial institutions discusses the best way forward for monetary and fiscal measures on the continent.

    Discussion points: 

    • Actions to date: Will they be sufficient to curb inflation? 

    • How to curtail inflation without disrupting growth 

    • Maintaining independence in the face of high interest rates and government debt 

    • Mitigating the effects of a global recession on Africa’s financial industry 

    Jean-Claude Kassi BROU
    Distinguished Guest

    Jean-Claude Kassi BROU

    Governor, Banque Centrale des Etats de l’Afrique de l’Ouest (BCEAO)
    Dr. Denny KALYALYA
    Distinguished Guest

    Dr. Denny KALYALYA

    Governor and Chairperson of the Board of Directors, THE BANK OF ZAMBIA
  • (GMT)
    STRATEGIC ROUNDTABLE | Expanding consumer insurance: Affordable rates and access via digital platforms
    Room DIRHAM

    Access via sign-up on the event app or by invitation only

    Insurance premium penetration in Africa, at 3%, is 2x lower and premium per capita is 15x lower than the world average. Lack of access is one of the main challenges. But as mobile money penetration reaches >50% in many East and West African markets, digital platforms are extending beyond wallets and peer-to-peer transfers. This multistakeholder roundtable will discuss what is required to increase insurance penetration on digital channels.

    Discussion points: 

    • Which sub-segment has the biggest potential for insurance via digital platforms? 

    • What is required to distribute insurance from these such channels? 

    • What is the role of the mobile agent beyond just cash collection? 

    • How can insurers and digital players structure mutually beneficial partnerships? 

     

    Gildas N'ZOUBA
    Distinguished Guest

    Gildas N'ZOUBA

    Managing Director, SUNU Assurances Vie Côte d’Ivoire
    Sani YAYA
    Distinguished Guest

    Sani YAYA

    Minister of Economy and Finance, Republic of Togo
    Alain KANINDA
    Distinguished Guest

    Alain KANINDA

    Managing Director, Insurance Regulatory and Supervisory Authority (ARCA)
    Alex THOMSON
    Distinguished Guest

    Alex THOMSON

    Co-Founder, Naked Insurance
  • (GMT)
    PANEL WFC | Unlocking Women's Financial Inclusion in Africa
    Room CAURI

    Only 37% of women in Sub-Saharan Africa have a bank account. Women entrepreneurs also confront a $42 billion gender funding gap and in 2021 alone, women-only founders received less than 1% of the nearly $5 billion raised by African startups. Long-term solutions could lie in equipping financial institutions and financiers with gender-informed policies, providing financial literacy trainings, as well as creating new partnerships with informal financial markets. Yet many hurdles, including poverty, discrimination, and a lack of institutional support continue to fuel gender disparity in access to finance and venture capital for African women.  How do we make formal financial services available, accessible and affordable to women and women entrepreneurs?  

    Key Points:

    • What are the biggest opportunities and innovations toward financial inclusion for women?  
    • What can venture capitalist funds and investors do better to address the gender funding gap?  
    • How do we promote a more effective understanding and implementation of financial inclusion products and strategies?

     

    Toyin SANNI
    Moderator

    Toyin SANNI

    Founder & Executive Vice-Chair, Emerging Africa Group