African finance ministers and central bank governors are meeting in Lomé, Togo, this Nov. 28-29 for the African Finance Industry Summit (AFIS) to discuss how Africa’s finance industry can contribute to the continent’s economic recovery.
Morocco is participating in the African Summit, held under the theme “Sustainable, borderless and digital, Transforming finance in the age of disruption.”
The opening ceremony of the summit on Monday was attended by president Faure Essozimna Gnassingbé of Togo, government officials, as well as bank governors and representatives of financial institutions of several African countries.
This international event, which aims at fostering the emergence of a modern, innovative and inclusive pan-African financial services sector, focuses on Africa’s finance industry and the role it can play in economic integration through the harmonization of policy in different countries. This is at a time of unprecedented inflation and growing geopolitical risk, which forces the world to look inward. It also pressures its political and financial leaders to find solutions.
AFIS is gathering leaders of the African industry who will contribute to Africa’s economic recovery through a sustainable, competitive, innovative, and inclusive development of the finance sector. Roundtables, workshops, and conferences allow participants to exchange ideas.
“It is above all a platform for public-private dialogue in favor of a sovereign Africa capable of financing its own infrastructure and major transformation projects,” said Frédéric Maury, the Managing Chief Operating Officer of Jeune Afrique that organizes the event. Maury proposes that African banks be given equity capital to support their development. He also suggests the creation of a regulatory framework.
AFIS was established by the Jeune Afrique Media Group, 2021 with the support of IFC (World Bank Group). It is a sister organisation to the Africa CEO Forum which is the premier platform for the African private market. AFIS’ goal is to build a robust financial industry that serves sustainable economy and development.
Source: north africa post