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The first edition of the Africa Financial Industry summit organized by Jeune Afrique will take place in Lome, Togo on November 28 and 29. The event will bring together nearly 700 bankers, insurers, and actors from fintech, capital markets, and microfinance to exchange ideas and arrive at solutions to advance the financing of African economies.
The first edition of the Africa Financial Industry summit organized by Jeune Afrique will take place in Lome, Togo on November 28 and 29. The event will bring together nearly 700 bankers, insurers, and actors from fintech, capital markets, and microfinance to exchange ideas and arrive at solutions to advance the financing of African economies.
Billed as a powerful platform for public-private dialogue for empowering Africa capable of financing its own infrastructure and major digital transformation projects, the event will take stock of the growth of the various segments of the financial sector, how various countries in the continent connect with the other, investments needed in critical areas, strategies needed for enhancing internet penetration for popularizing banking, insurance, and fintech in the continent, including injection of equity capital to help the development of African banks, implementation of an adapted regulatory framework and a host of other things to make the operations of the sector complying with international standards.
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Admittedly, banking, insurance, and fintech have been growing smartly through 2019. But, the Covid-19 pandemic had a negative impact on the segment affecting its profitability. This got accentuated by the continuing conflicts between Russia and Ukraine. The interest rates, keeping in tandem with the world trend, have been growing, creating a lot of spillover effects among the banks and financial institutions in the continent.
