{"id":28380,"date":"2023-04-13T10:02:01","date_gmt":"2023-04-13T10:02:01","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance"},"modified":"2023-04-13T10:33:34","modified_gmt":"2023-04-13T10:33:34","slug":"africas-financial-industry-in-lome-seeks-a-new-balance","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance","title":{"rendered":"Africa\u2019s financial industry in Lom\u00e9 seeks a \u2018new balance\u2019"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span><\/a>The second edition of the Africa Financial Industry Summit brings together more than 600 leaders from the continental finance industry, amid major sectoral upheaval.<\/p>\n

The objective is to develop solutions so that the sector can collectively arm itself in the face of crises. \u201cThis moment of recomposition hints at a transformed financial landscape. We will build this future together.<\/p>\n

I am addressing you with a strong conviction: the future of African finance will be built on close collaboration between public authorities and the financial sector,\u201d said President Faure Gnassingbe\u0300 at the opening of the Africa Financial Industry Summit on 28 November in Lome\u0301, underlining the impact of the health, financial and energy crises on Africa\u2019s financial sector.<\/p>\n

The first physical edition of AFIS \u2013 18 months after the inaugural edition organised online \u2013 comes a decade after the creation of the Africa CEO Forum, which has become a \u201cplatform for the private sector to become the engine of our growth and accelerate regional integration in Africa\u201d, said Amir Ben Yahmed, managing director of the Jeune Afrique Media Group (JAMG).<\/p>\n

The aim of the Lome\u0301 summit, which brings together more than 600 leaders, bankers, insurers, regulators, central bank governors, public policy makers, innovators and fintech executives, is \u201cto ensure that the debate\u2019s conclusions provide sustainable and concrete solutions for a more resilient and globally competitive financial industry\u201d, said JAMG\u2019s boss.<\/p>\n

Speaking to participants in the Hotel 2-Fe\u0301vrier\u2019s auditorium, Togo\u2019s head of state began by reiterating the \u201cfinancial, security, climatic, inflationary and logistical\u201d upheavals that are affecting African economies and the financial sector. He also emphasised his belief that \u201ca new market balance will emerge and optimism will return\u201d.<\/p>\n

Gnassingbe\u0301 also insisted on the willingness of his country \u2013 which hosts many African financial institutions, including Ecobank, BOAD, Oragroup, EBID and Cica-Re \u2013 to play its part alongside the private sector by promoting an attractive business environment and building a bank of viable projects.<\/p>\n

He added that it is willing to play its role as a referee in developing sustainable and responsible investments, as well as in promoting innovation. We have to understand the basics of competition, but also the basics of cooperation.<\/p>\n

For his part, Sergio Pimenta \u2013 the Africa vice-president of the International Finance Corporation (IFC), AFIS\u2019 co-organiser \u2013 noted that \u201cfinancial institutions can be drivers of resilience and catalysts for solutions to crises\u201d.<\/p>\n

He cited, among other things, their contribution towards supporting micro, small and medium enterprises (MSMEs), trade finance, climate transition and digital transformation, as well as establishing two initiatives worth $1bn each, dedicated respectively to SME finance and trade recovery in several African economies.<\/p>\n

Several speakers welcomed recent achievements made in the field of intra-African trade and commerce, such as the establishment of the ALEP and PAPSS, aimed at facilitating investment across African exchanges and payments between countries on the continent respectively.<\/p>\n

The first barrier to trade is the mindset,\u201d said Ade Ayeyemi, the Lome\u0301-based Ecobank Group\u2019s outgoing CEO. The Nigerian leader, however, stressed the need for regulators to bring together fintechs, bankers, telecom operators and others to develop solutions to fulfil the needs of people and economies, which is also AFIS\u2019 objective.<\/p>\n

\u201cWe have to be aware of how much we can achieve if we work together.<\/p>\n

We have to understand the basics of competition, but also the basics of cooperation. Cooperation will take us to the finish line,\u201d said the Ecobank boss.<\/p>\n

\u201cOur hope is that everyone will leave this summit convinced that a demanding public-private dialogue will lead to the emergence of a roadmap capable of making the financial sector the engine of economic transformation that our continent needs,\u201d said Yahmed.<\/p>\n

One thing is certain: this meeting is taking place amid an atmosphere of optimism in the African financial industry. As Aristide Ouattara, Deloitte\u2019s partner in Co\u0302te d\u2019Ivoire, said: \u201c65% of executives surveyed believe that the African financial industry is becoming more and more attractive.<\/p>\n

\u201d AFIS ends on t29 November and will see several awards presented to the most cutting-edge players in banking and regulation.<\/p>\n

For More News And Analysis About Mauritius<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. The second edition of the Africa Financial Industry Summit brings together more than 600 leaders from the continental finance industry, amid major sectoral upheaval. The objective is to develop solutions so that the sector can collectively arm itself in the face of crises. \u201cThis moment of recomposition hints at a transformed financial […]<\/p>\n","protected":false},"author":84,"featured_media":28379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,233,245,241],"class_list":["post-28380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa","tag-africa-press","tag-africa-press-mauritius","tag-mauritius"],"yoast_head":"\nAfrica\u2019s financial industry in Lom\u00e9 seeks a \u2018new balance\u2019 - Mauritius<\/title>\n<meta name=\"description\" content=\"The second edition of the Africa Financial Industry Summit brings together more than 600 lea ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Africa\u2019s financial industry in Lom\u00e9 seeks a \u2018new balance\u2019\" \/>\n<meta property=\"og:description\" content=\"The second edition of the Africa Financial Industry Summit brings together more than 600 lea ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-13T10:02:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-13T10:33:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/04\/postQueueImg_1681364030.42.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"585\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Africa\u2019s financial industry in Lom\u00e9 seeks a \u2018new balance\u2019\",\"datePublished\":\"2023-04-13T10:02:01+00:00\",\"dateModified\":\"2023-04-13T10:33:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\"},\"wordCount\":693,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2023\/04\/postQueueImg_1681364030.42.jpg\",\"keywords\":[\"Africa\",\"Africa Press\",\"Africa Press-Mauritius\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/africas-financial-industry-in-lome-seeks-a-new-balance\",\"name\":\"Africa\u2019s financial industry in Lom\u00e9 seeks a \u2018new balance\u2019 - 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