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Togo will host the African Financial Industry Summit in November

Togo will host the African Financial Industry Summit in November

a month ago | by: David Kodjani

The African financial industry will meet on 28 and 29 November in Lomé for the second edition of the Africa Financial Industry Summit (AFIS).

Initiated by the World Bank's IFC and Jeune Afrique Media Group, this event will take place for the first time in person. The first edition took place entirely online. 


During two days, conferences, workshops and round tables will allow African industry leaders to contribute to the economic recovery of the continent through the development of a competitive, innovative, inclusive and sustainable financial industry.


AFIS


Africa's development depends on building an efficient, inclusive and sustainable financial sector. As such, AFIS stimulates dialogue between governments, regulators and financial industry leaders (banks, insurance companies, mobile money operators, fintech) on a continent whose growth potential is hampered by the misdirection of available funding.


The objective of AFIS is to build a robust financial industry at the service of the real economy and sustainable development. Bringing together the most influential personalities and institutions in African finance, as well as regulators, AFIS works to improve financial inclusion and to create a truly pan-African financial services industry.


AFIS is actively engaged in contributing to the success of the African Continental Free Trade Area (AfCFTA), which is expected to accelerate the integration and growth of the African financial sector.



Read also - Togo Will Benefit From World Bank Financial Support



The objectives


At a time when finance is at the heart of many issues, from trade acceleration to economic recovery, AFIS will bring together again in 2022 the leaders of the African financial industry around the following objectives  


  • exchange best practices to accelerate financial inclusion on the continent

  • accelerate the emergence of a pan-African financial services market, notably through the harmonization of practices and the development of strong continental groups

  • Contribute to the emergence of regulatory and compliance policies, and to the supervision of financial innovations for the sustainable growth of the sector;

  • promote the exchange of experience and the sharing of best practices among professionals;

  • Discuss the latest trends and developments in global and African finance.


More than 500 participants from 30 countries are expected for this second edition. This should enable the various delegations to discuss four major themes considered essential to finance by the organizers.


"The first pillar is everything that concerns financial digitalisation (fintechs, mobile money, etc.). The second pillar is green finance (Sustainable Finance) and the third is related to economic integration, the Zlecaf. There is a fourth theme that has been invited in the light of the period of high inflation that we are going through. It is the impact of inflation on the soundness of the African financial industry and its prospects," said Frédéric Maury, Deputy Director of AFIS.



In Africa, where the financial industry is growing and new pioneering uses are emerging, AFIS organizers say they want to "encourage innovation and impact the continent's economy."



Translated by Koboyo KANABIA