Archive for the 'Conference' Category

Africa’s DFIs proud at banking awards gala

Two leading African development finance institutions led the pack at this week’s African Banker Awards. Bank of the Year 2019 goes to Afreximbank, making giant steps in growing profitable operations in financing and promoting trade within and from African and launching many key new products in the past 18 months.

African Banker of the Year is Admassu Tadesse, President of Trade and Development Bank and from Ethiopia. The bank – formerly PTA Bank –  has been expanding its operations in East and Southern Africa and launched many new products.

Olukayode Pitan of Bank of Industry (left) awards African Banker of the Year 2019 to Admassu Tadesse of Trade and Development Bank

The African Banker Awards spotlight and celebrate excellence in banking and finance in Africa. The 2019 winners were announced at a prestigious gala dinner in Malabo, Equatorial Guinea, on the fringe of the annual meeting of the African Development Bank.

“I am very honoured to be a judge. It’s exciting to read the submissions about many top-quality African institutions and excellent leaders. Its very hard to choose winners from many inspiring entries, including giant investments and transactions that are transformational for African economies.” Tom

South African banks dominated in tightly-contested investment banking and in the deals of the year. Absa won investment bank of the year; Standard Bank and RMB won the equity deal of the year with the VIVO Energy’s £548m ($742m)  IPO in London (see our story); debt deal of the year went to Rothschild & Co for Senegal’s dual-currency Eurobond ($1bn and €1bn); and infrastructure deal of the year went to Credit Agricole and TDB which financed a floating liquefied natural gas (LNG) platform in Mozambique. 

In other categories: Ecobank won retail bank of the year; Kenya’s KCB won the prize for innovation; Equity Bank for its CSR activities; and Nigeria’s Bank of Industry won the prize for financial inclusion.

Overall there were excellent winners from most African regions in 2019. Organizers and the 2 main sponsors of the awards, the African Guarantee Fund and the Bank of Industry, called to make banking more inclusive, both in gender representation among senior managers and through lending to small and medium sized enterprises (SMEs).  

The 2019 lifetime achievement award went to South African Sizwe Nxasana, former CEO of First Rand group, which grew at a compound annual growth rate of 20% under his leadership. In his speech, Nxasana called for even greater investment in human capital to accelerate growth in Africa. The African Banker Icon award was for Mitchell Elegbe, founder of Interswitch, the payments service provider another Africa-led “unicorn”, a tech start-up business whose value is likely to exceed $1bn (see our story).

Tarek Amer, Governor of the Central Bank of Egypt, won Central Bank Governor of the Year for his work in restoring faith in Egypt’s markets, helping make it one of the best-performing emerging markets. Benin’s Romuald Wadagni won Finance Minister of the Year, after big improvements to macro-economic indicators and structural transformation reforms.

Omar Ben Yedder, Publisher of African Banker magazine, said: “2018 was another strong year for banks. Undoubtedly fintech was the most buoyant sector in terms of tech investments and we are yet to truly see the transformative impact it can have. Despite the positive stories from the banking sector, the words of the winner of our Banker of the Year still resonate when he said last year at the Africa Investment Forum: we need to speed up, scale up and synergize. ”


THE 2019 AFRICAN BANKER AWARD WINNERS
 
African Banker of the Year
Admassu Tadesse, TDB

Lifetime Achievement Award
Sizwe Nxasana, former CEO, First Rand Group 

African Banker Icon
Mitchell Elegbe, Founder, Interswitch Group

African Bank of the Year
Afreximbank

Minister of Finance of the Year 
Romuald Wadagni, République du Benin

Central Bank Governor of the Year 
Tarek Amer, Central Bank Governor, Egypt
 
Best Retail Bank in Africa
Ecobank
 
Investment Bank of the Year
Absa Capital
 
Award for Financial Inclusion
Bank of Industry, Nigeria

Special Commendation for their contribution to the development and financing of the Rural Sector: Banco Nacional de Guinea Ecuatorial (BANGE)
 
Socially Responsible Bank of the Year 
Equity Bank, Kenya
 
Innovation in Banking 
KCB, Kenya

Special Commendation: JUMO, South Africa

Deal of the Year – Equity
Vivo IPO
Standard Bank & Rand Merchant Bank (South Africa)
 
Deal of the Year – Debt
$2.2bn Senegal Eurobond
Rothschild 

Infrastructure Deal of the Year 
Mozambique Floating LNG
TDB & Credit Agricole

Regional Bank of the Year
East Africa – KCB, Kenya
West Africa – Orabank
North Africa – Banque de l’Habitat (Tunisia)
Southern Africa – Mauritius Commercial Bank
Central Africa – BGFI, Gabon

African Banker Awards coming up 11 June 2019

The African Banker Awards 2019 are coming up next week during the African Development Bank annual meeting in Malabo, Equatorial Guinea. Dynamic banks are competing for awards including:

  • African bank of the year
  • African banker of the year
  • Investment bank of the year
  • Best retail bank
  • Innovation in banking and 5 other categories

For a full list of entries, including the African megadeals competing for debt and equity deals of the year, see the awards website.

Omar Ben Yedder, the Group Publisher and Managing Director of IC Publications Group, which publishes African Banker Magazine, said:
“We have received a record amount of entries this year. The banking industry is being disrupted by technology and one could sense that the sector is embracing this technology to develop solutions that will truly benefit the real economy. Financial inclusion lies at the heart of formalising our industries and fintech is playing a role in bringing finance to the masses. ” 

The awards are held under the patronage of the African Development Bank and are sponsored by The African Guarantee Fund and The Bank of Industry. The Gala Dinner and Awards presentation will take place at the Gaviota, by the Sofitel Sipopo, Malabo. 

AFSIC conference – 2 weeks to go

AFSIC – Investing in Africa is in its 7th year and takes place in 2 weeks’ time.
Europe’s biggest annual conference on inward investment to Africa will be 8-10 May 2019 in London.

For registration go to the AFSIC conference website.

AFSIC is a highly focused investment event and one of the most important Africa investor events globally. Over 200 of Africa’s most important investors and business leaders are confirmed as speakers.

1000+ Expected to attend in 2019

Business leaders from around 40 African countries are expected to attend in 2019; over 250 speakers and participants in country-focused sessions; expected 1000+ delegates; 100 sessions dedicated to uncovering Africa’s most profitable investments; and dynamic networking events providing opportunities for African business leaders, investors and deal-makers to meet.

A sophisticated event and meeting app allows delegates to prepare up to a month ahead for critical investment meetings allowing real deals to be concluded during the course of AFSIC.

Many of Africa’s most important investment funds are confirmed as speakers including:

  • Jussi Ahonen, Investment Manager, Finnfund
  • Magdi Amin, Investment Partner, Omidyar Network
  • Diana Amoa, Portfolio Manager, JP Morgan Asset Management
  • Franklin Olakunle Amoo, Managing Partner, Baylis Emerging Markets LLC
  • George Asante, Head: Markets ex SA, CIB, Absa Bank
  • Souleymane Ba, Partner, Helios Investment Partners LLP
  • Christopher Balliet Bleziri, Principal Investment Officer, BOAD
  • Craig Batsi Bandason, Portfolio Manager, Imara Asset Management
  • Peter Bartlett, Partner, GML Capital LLP
  • George Bodo, Head of SSA Banking Research, Ecobank Capital
  • Ben Botes, Group CEO, SeedsLife Caban Impact Investment LLP
  • Chantelé Carrington, COO, Africa Business Group, PwC
  • Emilio Cattaneo, Executive Director, EAIF – Part of The Private Infrastructure Development Group
  • Anne-Marie Chidzero, Chief Investment Officer, FSD Africa Investments
  • Johann Choux, Head Of Equity Investments – Financial Institutions & Innovation, Proparco
  • Paul Clark, Portfolio Manager, Ashburton Investments
  • Grant Cullens, CEO Asset Management, African Alliance Asset Management
  • Edwin Dande, Chief Executive Officer, Cytonn Investments
  • Andreas Davidsen, Senior Investment Manager, Norfund
  • Jonathan De La Pasture, Portfolio Manager, Stanlib Credit Alternatives
  • Arnaud De Lavalette, Senior Project Manager, ADA Microfinance
  • James Doree, Managing Director, Lion’s Head Global Partners
  • Kunal Doshi, Investment Professional, Capricorn Investment Group
  • Steven Duchatelle, CEO, Advans Group
  • Olivier Edelman, Head of Unit, European Investment Bank
  • Karim El Hnot, CEO, Sogecapital Gestion
  • John Esther, NE AFRICA Coverage Executive, TDB
  • Michael Fabbroni, Head Financial Institutions Debt Financing – Africa, responsAbility Investments AG
  • Michael Fischer, Director – Financial Institutions Africa, DEG mbH
  • Wieger Fokke, Senior Investment Officer – Financial Institutions Africa, FMO – The Dutch development bank
  • Juan Jose Garcia, Principal and Regional Syndications Lead, Sub-Saharan Africa & Latin America, International Finance Corporation, IFC
  • Jarred Glansbeek, Chief Investment Officer, RisCura Holdings (Pty) Ltd
  • Cathy Goddard, CEO, Firebird Fund Managers
  • David Grayson, Chief Executive Officer, Auerbach Grayson & Company
  • Yann Groeger, Regional Manager Africa, BlueOrchard Finance
  • Sanjeev Gupta, Executive Director & Head of Financial Services, Africa Finance Corporation
  • Thomas Heinig, Senior Project Manager, KfW Development Bank
  • Ed Higenbottam, Managing Director, Verdant Capital
  • Steve Hollingworth, President, Grameen Foundation
  • Philip Hopkins, Director of Investments, Equator Capital Partners
  • Thomas Hougaard, Vice President, IFU – Investment Fund for Developing Countries
  • Nick Hughes, Co Founder and Chief Product Officer, M-KOPA LLC
  • Will Hunnam, Co-Founder, Orbitt
  • Ulla Huotari, Investment Manager, Finnfund
  • Jimoh Ibrahim, President Infastructural Development in Africa, Africa infrastructural Development Funding Dubai
  • Ioto Iotov, Manager, AfricInvest
  • Robert Jenkins, Senior Partner and Chief Investment Officer, Phatisa
  • Afsane Jetha, CEO & Managing Partner, Alta Semper Capital
  • Jarri Jung, Regional Manager Africa & Middle East, Triple Jump
  • Dr Jens Koeke, Chief Investment Officer, Allianz Africa
  • Laureen Kouassi-Olsson, Financial Institutions Head and West Africa Office Head, Amethis Finance
  • Jonathan Kruger, Portfolio Manager, Director, Adventis
  • Arun Kumar, Principal Investment Officer, African Development Bank Group
  • Brenton Lalu, Specialist: Africa, Public Investment Corporation
  • David Lashbrook, Head of Africa Real Estate, Momentum Africa Real Estate Fund
  • Gregoire Lecomte, Group Head of Investor Relations & Funding, Baobab Group
  • Peter Leger, Head of Global Frontier Markets, Coronation Fund Managers
  • Alexis Losseau, Investment Officer, BIO – Belgian Investment Company for Developing Countries
  • Steven Loubser, Fund Manager, Investec Asset Management
  • Albert Maasland, Group CEO, Crown Agents Bank
  • Johan Marnewick, Head of Credit Alternatives, Stanlib
  • Asha Mehta, Lead Portfolio Manager, Acadian Asset Management
  • Cédric Mezui, Coordinator of African Financial Markets Initiative, African Development Bank
  • The Rt Hon Penny Mordaunt MP, Secretary of State, Department for International Development
  • Kurt Morriesen, Senior Advisor of Impact Investments, UNDP
  • Hoda Atia Moustafa, Africa Regional Head, Multilateral Investment Guarantee Agency (MIGA)
  • Rufaro Mucheka, Head of Strategy & Rest of Africa, Nedbank Limited
  • Kaan Nazli, Senior Economist, Neuberger Berman
  • Nothando Ndebele, Head: Financial Institutional Group, Absa Bank
  • Erica Nell, Head of Credit, Sanlam Investment Management
  • Lexi Novitske, Principal Investment Officer, Singularity Investments
  • Temi Ofong, Head: CIB, Absa Bank
  • Adesuwa Okunbo, Partner & Managing Director, Syntaxis Capital Africa
  • Lanre Oloniniyi, Co-Founder, Orbitt
  • Ope Onibokun, Investment Specialist, Investec Asset Management
  • Yann Pambou, Head of Africa, Principal Investments and Private Equity, Swiss Re direct Investment Ltd
  • Lasitha Perera, CEO, GuarantCo – Part of The Private Infrastructure Development Group
  • James Polan, Vice President, Small & Medium Enterprise Finance, Overseas Private Investment Corporation
  • Martijn Proos, Director, Investec Asset Management
  • Brandon Quinn, Co-Founder and CEO, Saffron Wealth
  • Charles Robertson, Global Chief Economist, Renaissance Capital
  • Erik Sandersen, Executive Vice President – Financial Institutions, Norfund
  • Robert Schofield, Head of Division, European Investment Bank
  • Andrew Schultz, Head of Africa Sales, Investec
  • Nimit Shah, Partner, Helios Investment Partners
  • Frank Streppel, Global Head of Investments, Emerging Markets Department, Triodos Investment Management B.V.
  • Jean-Philippe Syed, Principal, DPI – Development Partners International
  • Wasim Tahir, Sector Strategist – Financial Institutions, CDC Group
  • Roland Tatnall, Senior Investment Director, Mubadala Infrastructure Partners
  • Ameya Upadhyay, Principal, Investments, Omidyar Network
  • Antti Urvas, Associate Director Financial Institutions, Finnfund
  • Cobus Visagie, Group CEO, Africa Merchant Capital
  • Emma Wade-Smith, Her Majesty’s Trade Commissioner for Africa, Department for International Trade
  • David Webb, Managing Partner & CIO, Emerging Markets Development Partners
  • Graham Wrigley, Chairman, CDC Group

Exploring African bond markets at Livingstone

Africa’s bond market gurus will gather in Livingstone, Zambia, on 29 October, to discuss trends and developments in the local currency bond markets. The 3 day gathering is organized by the African Financial Markets Initiative AFMI, which highlights African Development Bank’s leading role to develop Africa’s domestic local currency bond markets, establish best practices and document lessons.
The first day of the AFMI 10th anniversary workshop is open to the public, and highlights “enhancing transparency in African bond markets”. It includes panels on initiatives in the African capital markets ad steps to increase transparency in bond markets, led by your author.

Victoria Falls

There are also presentations on African Development Bank’s contributions to deepening local currency bond markets including: the data collection tool and platform, bringing together data from African central banks; the African Bond index ABABI, BADBC and BADBX compiled with Bloomberg.
A key highlight will be the progress of the African Domestic Bond Fund, recently listed in Mauritius.xx Other sessions cover regional integration, African credit risk measuring and a top Zambian panel highlighting the business opportunity in Zambia. Prof Leonce Ndikumana from Massachusetts University will speak on African illicit financial flows.
Top speakers also include Thapelo Tsheole (Chairman of the Committee of SADSC Securities Exchanges COSSE), Stefan Nalletamby (Director Financial Sector Development at AfDB), Cedric Mbeng Mezui (AfDB’s Chief Bond Markets Expert and AGFMI Coordinator), Joseph Rohm (MD Adventis and African Financial Sector Deepening Fund) and many others. Keynote speaker in the evening will be Christopher Marks (Managing Director and Head of Emerging Markets at Mitsubishi UFI Financial Group MUFG)
The conference is co-organized with Bank of Zambia and the session will include the Ministry of Finance, Lusaka Stock Exchange, BoZ, Investment Board and stakeholders.
The following days, 30-31 October, are closed sessions for central bankers.

Happy New Year 2018 to our readers

Best wishes to all the readers of African Capital Markets News for 2018. May the year be happy, busy, successful and prosperous for Africa’s securities exchanges, stockbrokers, investment bankers, private equity practitioners and professionals and all those developing the impact investing and financial inclusion space.
We have updated our 2018 listing of conferences, see conferences and events page. Kindly let us know of any events we are missing or should be added.

Latest on developments in African capital markets

Presentations from the exciting Building African Financial Markets (BAFM) seminar are now available on the Internet. The 6th edition of BAFM was hosted the first time in North Africa by the Casablanca Stock Exchange (CSE) in Morocco on 18-19 May, 2017. The seminars are organized with the African Securities Exchanges Association (ASEA).

The theme of the event was “Global Best Practices to Enhance the African Capital Markets”, I was compere and there were many top presentations which you can download here. It provided a great platform for sharing information and discussing best ways the exchanges can support Africa’s needs for long-term capital.

According to the host, Karim Hajji, Deputy President of ASEA and CEO of the Casablanca Bourse: “The Casablanca Stock Exchange is more than ever before convinced of the important role of African exchanges in mobilizing the means for financing the continent’s growth. BAFM is indeed an opportunity to consider new paths of cooperation and enhance synergies so as to improve the role of Exchanges in financing the African economy.”

BAFM is a capacity-building initiative designed to promote growth in African financial markets. The Casablanca meeting attracted more than 100 delegates from within and outside Africa. There were very many top speakers including: Abimbola Ogunbanjo (First Vice President of the Nigerian Stock Exchange), Ronald Webb (Director – Financial Services, Safaricom Ltd), Riccardo Ambrosini, (Climate Finance Specialist, IFC World Bank Group) and Selloua Chakri (Head of Market Structure Strategy MEA Region, Bloomberg L.P.).
This high-level meeting provided a.

Oscar N. Onyema, President of ASEA and CEO of the Nigerian Stock Exchange, said; “Building the African financial market is our collective responsibility, hence we must seek out knowledge that empowers each of us to remove impediments to the advancement of our market.”

To view the presentations as well as the pictures of the Seminar, please visit http://www.african-exchanges.org/sites/default/files/publications/building_african_financial_markets.pdf and http://www.african-exchanges.org/en/media#contentCarousel/gallery respectively.

Top speakers for BAFM capacity-building seminar 18-19 May


Leaders and movers of African capital markets are heading to Casablanca for the 6th Building African Financial Markets (BAFM) capacity-building seminar on 18-19 May, organized by Casablanca Stock Exchange with the African Securities Exchanges Association and supported by member exchanges.
This year focuses on “Global best practices to enhance African capital markets”. The agenda features CEOs of top African exchanges and other industry leaders: Oscar Onyema CEO of Nigerian Stock Exchange and President of ASEA, Siobhan Cleary of the World Federation of Exchanges, Karim Hajji CEO of Casablanca Stock Exchange, and speakers from Bloomberg, International Finance Corporation, Ethiopian Commodity Exchange, Tanzania Capital Markets and Securities Authority, Securities and Exchange Commission (Nigeria), Safaricom, Kenya Retirement Benefits Authority, Maroclear, and many others.
Topics include: demutualization and growth, what the new US administration means for African markets, financial inclusion, pensions, liquidity, green finance, global principles on IT infrastructure, and regional integration of exchanges in East, West and Southern Africa.
It will be held at Casablanca Most Events Business Center, Anfa Place, Casablanca, Morocco. Don’t miss a great chance to meet the drivers of Africa’s capital markets development. For more, check the Casablanca Stock Exchange website page.

Conference: Pensions and Alternative Investments Africa 15-16 March

How fast-growing pensions can transform African economies

Africa’s pension and institutional savings industry is crossing the threshold into a major growth path. Channelled appropriately, they can transform Africa’s business and investment landscape and boost economies and savings.

Institutional savings – pension, insurance and other funds – are emerging as transformative forces for Africa’s economies. Industry leaders and others will discuss it at AME Trade’s Pension Funds & Alternative Investment Africa Conference (PIAFRICA), to be held in Mauritius from 15– 16 March.

The theme is “How can we leverage pension and investment funds for the development of Africa?” Pensions in 10 African countries were tallied at $379 billion in assets under management (including $322bn in South Africa). It is forecast that pension funds in the six largest sub-Saharan African markets will grow to $622bn in assets by 2020 and to $7.3 trillion by 2050.

The aim of the PIAFRICA conference is to debate whether the environment is being created for these funds to go into productive investments that will ensure their members get good returns and that contribute effectively to Africa’s growth. PIAFRICA will bring together the leaders of pension funds and institutional investors, policymakers, regulators, capital-markets, private equity and other stakeholders and is endorsed by the African Securities Exchanges Association (ASEA)

Discussions will focus on maximizing Africa’s pension fund and institutional investor opportunity, and will revolve around the following topics:
• Key trends, challenges and opportunities for Africa pension funds, Insurance, mutual and social security funds
• Africa’s growing funds and their potential to develop capital markets
• How to achieve long-term benefits through investing in infrastructure and other alternative assets, including real estate
• Private equity as an investment avenue for pensions
• For and against more latitude to invest across African borders?
• Best practices for sustainable growth and trust in funds
• Capacity building and support tools
• Technology, fund administration and member services
• Country profiles: African pension funds

Top speakers confirmed to date include:

  • Doug Lacey, Partner, Leapfrog Investments
  • Eric Fajemisin, Chief Executive, Stanbic IBTC Pension Managers
  • Mr PK Kuriachen, Chief Executive, Financial Services Commission
  • Ernest Thompson, Director General, Social Security & National Insurance Trust
  • Krishen Sukdev, CEO, Government Pensions Administration Agency
  • Richard Arlove, CEO, Abax Services

For more visit http://ametrade.org/piafrica/. For media accreditation and interviews contact Barbora Kuckova, Marketing Manager, AME Trade Ltd, Tel: +44 207 700 4949 Email: barbora@ametrade.org

Rwanda to host 20th African Securities Association conference on 27-29 November

The Rwanda Stock Exchange (RSE) and the African Securities Exchanges Association (ASEA) will host the 20th Annual ASEA Conference in Kigali, Rwanda on 27-29 November. The ASEA annual conference is the flagship event for Africa’s capital markets and all those who work in them. This year’s theme is “The road to 2030: Making the African capital markets relevant to the real economy”.
Celestin Rwabukumba, RSE CEO, explained: “The conference will bring together more than 300 global and regional experts and stakeholders in capital markets, regulators, law firms and issuers, domestic, regional and international investors, rating agencies, portfolio and investment managers, government representatives, and technology providers to ask questions and address the big question of how African securities exchanges should become more effective and play a bigger role in mobilizing capital for African businesses that will drive our economies on the global economic stage.” He added it offers an opportunity for the East Africa Community (EAC) region to demonstrate how much can be achieved through integration of regional securities markets – the EAC is leading the way with an exciting capital markets integration programme as part of stronger regional economic links.
The gathering will also celebrate the RSE’s 5th birthday, it was formed in 2011. “It’s been an exciting 5 years for us. We have grown on all fronts and are increasing our numbers every year in terms of market participation, companies coming on board and technology. This will definitely be a good occasion,” Rwabukumba added.
There will also be scope for tourism and other enjoyment after the conference.

Kigali under Vision 2020 (photo: www.TopBoxDesign.com)

Kigali under Vision 2020 (photo: www.TopBoxDesign.com)

Local bond markets to fore at AfDB workshop

The African Development Bank’s African Financial Markets Initiative (AFMI) is discussing local-currency bond markets this week in Johannesburg, and over 30 countries will be there according to the press release. Key topics include how to develop domestic institutional investors, with experiences shared from across Africa, and updates on gathering data and help to include more countries in an AfDB-Bloomberg bond index.
AFMI runs a helpful financial markets database, available through their website www.africanbondmarkets.org, featuring bond and money-market news and helpful capital market descriptions for different African countries as well as a data portal.
The first day of the workshop, today 30 Nov, covers the database and the African Fundamental Bond Index as well as technical assistance. It includes how to collect accurate pricing data so that more countries can be included in the African Development Bank (AfDB/AFMI-SM) Bloomberg® African Bond Index (ABABI).
Tomorrow, 1 Dec, is open to investment banks, stockbrokers, exchanges and financial institutions. This includes presentations on the ABABI index, an African Domestic Bond Fund, and perspectives from institutional investors.

To participate in the 1 Dec African bond markets workshop please contact afmi@afdb.org as soon as possible.

AfDB launched the initiative in 2008 as part of its strategy to develop Africa’s financial sector. It contributes to developing domestic bond markets through: the African Financial Markets Database (AFMD); and the African Domestic Bond Fund (ADBF).

African Financial Markets Initiative data portal

African Financial Markets Initiative data portal