Moody's to host third Annual West Africa Summit in Lagos

May 10, 2017
Source: thebftonline.com l Ghana
Moody's to host third Annual West Africa Summit in Lagos

The credit implications of oil price volatility, naira's devaluation and global macroeconomic trends for Nigeria's sovereign and its banking and corporate sectors will be under discussion at Moody's third Annual West African Summit in Lagos on May 10.

The conference will bring together industry and business leaders, policymakers and executives from private corporates, financial institutions and state-owned companies, as well as a broad range of investor community representatives. The theme of this year's conference is "Nigeria's Uneven Recovery: Oil Price Volatility, Banking System Resilience and Currency Imbalances".

"Moody's third annual West African Summit will offer insight into the key credit and economic themes shaping Africa's biggest economy in 2017 and beyond," said Sylvia Chahonyo, Moody's General Manager, Africa. "This important event underscores Moody's commitment to playing its part in the development of Africa's debt capital markets and follows the publication last month of new Moody's National Scale Ratings Maps for Nigeria, Kenya and Morocco."

Ms. Chahonyo and Sean Marion, Moody's Managing Director, Financial Institutions Group, will welcome delegates to the event. Senior analysts from Moody's Sovereign, Sub-Sovereign, Banking and Corporate Finance groups will be among the speakers:

- David Staples, Managing Director, Corporate Finance Group and Matt Robinson, Associate Managing Director, Sovereign Risk Group will speak about "Recovery, Rebalancing and Risk" in the emerging markets in 2017.

- David Staples will moderate a panel looking at a potential inflection point and recovery for Nigerian corporate credits. He will be joined by Douglas Rowlings, Assistant Vice President -- Analyst, Corporate Finance Group.

- Akin Majekodunmi, Vice President -- Senior Analyst, Financial Institutions Group will discuss the resilience of Nigerian banks to challenges such as the rising cost of risk and bank capital vulnerability.

- A second panel will be moderated by Matt Robinson, who will discuss if a sustainable recovery is within Nigeria's grasp. He will be joined by Aurélien Mali, Vice President -- Senior Credit Officer, Sovereign Risk Group and Lead Analyst for Nigeria.

- Sean Marion will moderate an audience Q&A with Moody's analysts around the interdependency of the Nigerian sovereign, its corporates and its banks. He will be joined by panellists Akin Majekodunmi, Aurélien Mali and Doug Rowlings.

The conference will wrap up with David Staples leading a live rating committee simulation with Doug Rowlings.

Moody's is a leading provider of credit ratings, research, and risk analysis in Africa and currently rates 22 sovereigns, eight multilateral development banks, more than 60 financial institutions and corporates in Africa.

In 2016, Moody's expanded its ratings coverage in Africa, announcing new sovereign ratings for Cameroon and Rwanda. In October 2016, Moody's also published National Scale Ratings (NSR) maps for Kenya, Morocco and Nigeria. Moody's NSRs are ordinal rankings of creditworthiness relative to other credits within a given country, which offer enhanced credit differentiation among local credits