AFIS 2023 to map US$1.5tn path to Africa’s growth and prosperity

  • Scheduled for 15th & 16th November in Lomé, Togo, the Africa Financial Industry Summit will unite over 1,000 global financial experts, policymakers and industry leaders.

The upcoming Africa Financial Industry Summit-AFIS is scheduled for the 15th and 16th November in Lomé, Togo. As the continent faces a global credit crisis, high interest rates and a slowdown in international financing, the summit provides a critical platform to reshape Africa’s financial future and build a robust, resilient and self-reliant financial industry.

With the departure of major international players from local African operations, continental champions have an historic opportunity to extend their regional influence and consolidate links to global markets. Over the next decade, these champions have the potential to drive the real economy that Africa has been yearning for – unearthing activities worth more than US$1.5trillion based on banking, insurance and capital market penetration to GDP ratios observed globally.

To unlock this opportunity, AFIS 2023 will focus on four major areas: enticing African institutional investments into local capital markets, ensuring the free movement of capital and regulatory harmony, fostering talent vital for digital transformation and unlocking innovation in areas like climate finance and tokenisation.

Panel and strategic roundtable discussions will dissect an array of significant topics, providing insights and strategies for navigating challenges. The 30+ sessions programme will cover major industry trends, common markets and regulations, commercial banking outlook, capital markets & corporate financing, sustainability, and expanding insurance as well as digital financial services and fintech. These discussions aim to craft a blueprint for enhancing the resilience and efficiency of Africa’s burgeoning financial sector.

The summit will provide a platform to lay the groundwork for reinforced economic and financial structures essential for sustainable growth and development. Key figures expected from the financial sector include: Sérgio Pimenta (IFC Vice President for Africa); Mamo Esmelealem Mihretu (Governor, National Bank of Ethiopia); Manuel António Tiago Dias (Governor, National Bank of Angola); Sani Yaya (Ministre de l’Économie et des Finances du Togo); Jean-Claude Kassi Brou (Governor of BCEAO); Serge Ekué (BOAD); Ugas            Sheikh-Mohamed (Capital Markets Authority-Kenya); Delphine Traoré (SanlamAllianz); Patty Karuaihe-Martin (NamibRe); Jeremy Awori (Ecobank); Jules Ngankam (African Guarantee Fund); Oliver Alawuba (UBA); Felix Edoh Kossi Aménounvé (BRVM); Serigne Dioum (MTN); Idrissa Nassa (Coris Bank); and nearly 20 central bank Governors, Deputy-Governors and heads of regulatory authorities.

AFIS is positioned as a significant change-agent, underlining Africa’s substantial potential. By coordinating banking, insurance, fintech and capital market strategies with global standards, AFIS is set to be a fundamental gathering for industry stakeholders. It offers a collaborative platform for innovation and knowledge-sharing, aimed at contributing to a stable and prosperous African financial future.

“The Africa Financial Industry Summit – AFIS – is a critical milestone in the quest to build a resilient and world-class African financial industry. It brings together the minds that can turn the tide, ensuring Africa’s robust economic future,” asserted Amir Ben Yahmed, Chairman of AFIS. His words resonate with the sense of urgency and commitment that the summit embodies in its mission to forge a robust and self-sustained African financial sector.

“Ramping up private capital mobilisation to support continental trade, energy transition, digital transformation and MSME financing is paramount in addressing crucial development challenges facing Africa. IFC is proud to co-host AFIS for the third year to discuss the key issues hampering Africa’s financial sector and help unlock vital financing to spur green, sustainable and inclusive growth on the continent,” said Sérgio Pimenta, IFC Vice-President for Africa.

About Africa Financial Industry Summit (AFIS)

Founded by Jeune Afrique Media Group in 2021, with the support of IFC (World Bank Group), AFIS is a sister-organisation of the Africa CEO Forum – the leading platform for Africa’s private sector. AFIS’ objective is 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 improve financial inclusion and the emergence of a truly pan-African financial services industry.

About 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 2023, IFC committed a record US$43.7billion to private companies and financial institutions in developing countries, leveraging the private sector’s power to end extreme poverty and boost shared prosperity as economies grapple with the impacts of compounding global crises.

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