The Financial Times and IFC (International Finance Corporation) are bringing together senior thinkers from governments, finance, banking, NGOs and the corporate sector to explore the international effort to move countries out of fragility and into stability and growth.
Banking on Tomorrow
Creating Markets and De-risking Investments in Fragile & Conflict Affected States
Government of Ivory Coast
In partnership with
Fragility and conflict are among the greatest development challenges of our time. Two billion people now live in countries where development outcomes are affected by fragility, conflict and violence. Extreme poverty will increasingly be concentrated in these areas as the rest of the world makes progress, rising from 17% of the global total in 2016 to almost 50% by 2030 due to high population growth rates and weak economic development. Breaking out of poverty can be nearly impossible.
Damaged infrastructure and trade, weakened institutions, destroyed regulatory frameworks, political uncertainty, as well as no access to clean water and limited educational opportunities, are all challenges that citizens and businesses in fragile states must contend with. However, a number of these countries are making significant progress and rebuilding rapidly.
While aid – and even the deployment of peacekeepers – is an important part of the rebuilding process, these states must move beyond aid dependency. A strong private sector, backed up by a robust banking industry is essential for providing goods and services, generating tax revenues and creating employment opportunities.
Join us to hear case studies of how economies are being built and lives are being transformed in select fragile states.
Find out how the investment climate can be enhanced in fragile and conflict-affected states so opportunities can be created in sectors such as agribusiness, telecommunications, financial services and power generation.
Discover how regulations can be improved, simplified and strengthened to attract investors and enable businesses to expand.
Discuss how domestic and international investment is being mobilised and access to finance is being improved for SMEs and major companies alike.
Hear how to make the most of risky opportunities to deliver higher returns in fragile and conflict-affected states.
John Aglionby has been the Financial Times’ East Africa Correspondent since August 2015, based in Nairobi.
He joined the FT in 2006 as Jakarta Correspondent before moving to London in 2009 to the world news desk as International Economy News Editor. In 2013 Mr Aglionby moved to the main news desk as a Senior Reporter and News Editor on the live news desk, where he was at the heart of the team that implemented the FT’s transition to a digital first news organisation.
Before working for the FT, Mr Aglionby was the south-east Asia Correspondent for the Guardian and the Indonesia Reporter for the Economist.
Joy Macknight is Deputy Editor at The Banker, overseeing editorial output across the monthly magazine. She previously served as The Banker’s Transaction Banking & Technology Editor, and continues to cover transaction banking and technology for the magazine alongside her current role. Prior to this, she was features editor at Profit & Loss, a foreign exchange and derivatives magazine and conference producer. Before that she was editorial director at Treasury Today, following her editorship at gtnews, both publications that cover corporate treasury. Ms Macknight has also worked as a staff writer on Banking Technology and IBM Computer Today, as well as a freelancer on Computer Weekly.
H.E. Abdourahmane Cissé is Ivory Coast’s Minister in charge of the Budget, the State’s Participation and the State-Owned Entities.
He started his career at Goldman Sachs (UK), which culminated in him being appointed Executive Director in charge of equity volatility trading on eurozone indices in the Equities Derivatives Division. After leaving Goldman Sachs, Mr Cissé served as Advisor to Ivory Coast’s President, Alassane Ouattara, in charge of Public Finance, from 2012 to 2013, then Deputy Minister at the Ministry in charge of Economy and Finance from January to November 2013. He was appointed to his current post in November 2013 and reappointed at the start of 2016. Mr Cissé oversees Ivory Coast’s budget, customs, taxes, state-owned entities and public procurement administrations.
He has a degree in Engineering from Ecole Polytechnique (France) and an MSc in Petroleum Economics & Management from IFP School, France, and the University of Oklahoma, USA.
Grete Faremo joined UNOPS as Under-Secretary-General and Executive Director in August 2014.
Before this she held various senior-level positions for the government of Norway. Most recently, she was Minister of Justice and Public Security, a role she held for two years. She was Minister of Defence (2009-2011), Minister of Oil and Energy (1996), Minister of Justice (1992-1996), and Minister of Development Cooperation (1990-1992) for the Norwegian Government’s Ministry of Foreign Affairs. She was an elected Member of Parliament from 1993 to 1997.
Ms Faremo was the Executive Vice President of the Norwegian insurance group, Storebrand, from 1997 to 2003. From 2003 to 2008, she was Director of Law and Corporate Affairs at Microsoft Corporation’s Western European Office.
She has also sat on various advisory boards and associations, including Norwegian Peoples’ Aid, the Norwegian Defence Research Establishment, the Competence Development Fund of Southern Norway, Norsk Hydro ASA, the Oslo Philharmonic Orchestra and the University of Bergen.
Ms Faremo has a degree in Law, specialising in International Law, from the University of Oslo.
John Sisay is the CEO of London-listed mining company Sierra Rutile. He is President of the Sierra Leone Chamber of Mines and an Independent Advisor to the government of Sierra Leone.
Mr Sisay joined Sierra Rutile in 2001 as part of the team formed to re-establish mining operations after Sierra Leone’s decade-long civil war. He was appointed CEO in 2009. Sierra Rutile won the International Company of the Year Award at the 2012 AIM Awards.
He started his career with De Beers Consolidated Mines and later joined America Minerals Fields, where he worked on new acquisitions, particularly in the Democratic Republic of Congo.
Mr Sisay has a Bachelor’s degree from Goldsmiths College, the University of London, where he was the first African President of the Students’ Union, and an MBA.
Momoh Kemoh Konte
Momoh Kemoh Konte is the Chairman and Commissioner of Sierra Leone’s National Telecommunication Commission (NATCOM). He is also the President and Chief Executive Officer of Transtech International.
Previous roles, based in the US, include Regional Distributor, Maghreb States of Tunisia, Morocco and Egypt, South Western Petroleum Corporation (SWEPCO); Lead Consultant, Justin’s Corp; Lead Consultant, RE-Logistics Incorporated; Financial Analyst, MCI World Com; Trade Consultant, Small Business Development Center, Washington, DC; and Consultant, Minority Media and Telecommunications Council, Washington, DC. He has also been Lead Consultant for the privatisation of Liberia’s and Sierra Leone’s telecommunications companies.
Mr Konte has a BA in Economics from Howard University, Washington, DC, and a Master’s in Economics from the University of Toledo, Ohio. He is studying for a a PhD at Walden University in Minnesota.
Patrice Fonlladosa has been President of Veolia Africa and Veolia Middle East since July 2013. The company has water, sanitation and electricity contracts in many countries in these two regions, including Saudi Arabia, UAE, Oman, Morocco, Gabon and Niger. In 2015, he signed a performance contract to provide electricity management services to Electricité de Guinée (EDG) and the extension of Sur desalination facilities under the Sharqiyah Desalination Company, a listed company of Veolia in Oman.
He has been with Veolia group since 1994 having previously worked internationally for more than 10 years for Bouygues and Matra.
Other current and previous roles include President of Seureca@Veolia; board member of the MEDEF and the African Committee, President of the MEDEF IFIs Committee; member of the Center for studies and Prospective Strategy (CEPS); President of the Think Tank (re)sources; Director of Veolia Foundation; Chairman of the Association of Employee Shareholders of Veolia (AAVE); Director of the AFD Group (2009/2013); and Director Proparco (2009/2014).
Mohamed Dabbour is Executive Vice President Africa for Millicom, where he is responsible for ensuring profitable growth and cash flow.
He joined the company in 2008 and has held a variety of roles, including Chief Financial Officer in Chad in 2009 and in Ghana in 2011.
He was appointed Chief Financial Officer for the Africa region in August 2015.
Prior to joining Millicom, Mr Dabbour worked for BESIX, Belgium’s largest construction company. He started his career at PricewaterhouseCoopers in Brussels, Belgium, as Senior Accountant.
He has an Executive MBA from London Business School.
Chris Low was appointed Letshego Holdings Limited Group Managing Director in November 2013. Having commenced his career as a Chartered Accountant with Arthur Andersen (London), he went on to acquire extensive leadership experience in the banking industry with Goldman Sachs, Standard Chartered Bank and the National Bank of Kuwait.
Mr Low has a track record of close to 25 years in developing and executing country and regional transformational strategies in emerging markets, specialising in embedding governance and risk management frameworks and adopting financial as well as management accounting best practices.
Under his leadership, the Letshego Group has continued to deliver more than 18 years of strong growth, performance and returns. It has extended its footprint to 11 Sub-Saharan African countries, from seven in 2010, and has maintained a strong financial profile and balance sheet. The Letshego Group has been awarded AFI private partner status and has also launched a refreshed brand in all its markets, in line with its strategy of building a leading Africa-inclusive finance group.
Mr Low has a Master’s in Zoology from St Peter’s College, University of Oxford, and is a member of the Institute of Chartered Accountants of England and Wales (ICAEW).
Victor Osadolor is Group Director, Financial Services, of Heirs Holdings (HH) Limited. He is the Chairman of UBA Pensions Custodian Limited and a Board Director of Transcorp Power Limited, a subsidiary of Heirs Holdings.
He has worked at United Bank for Africa Plc, where he held various leadership positions, including Group Chief Finance Officer, Deputy Group CEO and the pioneer CEO of UBA Capital Group.
Mr Osadolor joined Heirs Holdings from Ecobank Transnational Incorporated (ETI), where he held a number of roles including Chief Operating Officer for Corporate and Investment Banking, and Group Chief Strategist.
He has a degree in Accounting, is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and an alumnus of Harvard Business School's Advanced Management Program (AMP).
Mohammed El Fatih Eltigani
Mohammed El Fatih Eltigani is CEO of Sudabill for Services, a Sudatel Group subsidiary. A professional with more than 17 years of experience in the telecoms industry, he joined Sudatel in 1998 and has held a number of senior positions in IT, as well as roles including Director of Enterprise Solutions, CEO of a Sudatel subsidiary, Director of Business Excellence and Chief Corporate Affairs Officer.
He previously worked at NuLink India, a US-based software development house. He is also an active member of number of national and international organisations, including ISOC Sudan, SiS Sudan and UNGC Sudan.
He has a BSc and an MSc in Computer Engineering as well as an MBA.
Gerald B Tanyi is Chief Counsel, Manager, at IFC, and also leads its global fragile conflict state (FCS) and portfolio management strategies. Prior to joining the World Bank Group, Dr Tanyi worked at a number of institutions including Bank of Central African States (BEAC); Swiss private bank Lombard & Odier; and Wall Street law firm Sullivan & Cromwell. He was also adjunct professor of international infrastructure finance at Georgetown University from 2001 to 2006 and has published papers in the areas of privatisation and international finance. Over the past 22 years, he has been involved in the structuring of a number of major transactions in the US, Europe, Latin America, Asia and Africa.
He has a doctorate degree from Yale University; a graduate degree from the University of Yaounde, Cameroon; and graduate diploma in Banking and Capital Markets from the Centre d'Études Juridiques Européens (University of Geneva, Switzerland). He is also admitted to the New York Bar.
Marcos Brujis is Global Industry Director, Financial Institutions Group, at IFC. He oversees IFC’s strategy, investments and operation’s portfolio in financial markets around the world. IFC’s investments in the financial sector represent about 40% of its global operations and aim to promote access to finance for micro, small and medium enterprises.
Before joining IFC, Mr Brujis was the Executive Director of Corporate and Institutional Banking at HSBC Argentina. In 1994, he was appointed Vice Chairman of the Board of The Argentina Private Development Trust (APDT). He was a board member, Founder and key fundraiser of the Peru Privatization Fund (PPF), a US$200m fund set up in 1995 in which IFC participated.
Mr Brujis has an MBA from McGill University, Canada.
Agenda - 13th Sep
3:00pmRegistration and networking
3:30pmChair’s opening remarks
John Aglionby, East Africa Correspondent, Financial Times
Oumar Seydi, Africa Director, IFC
3:40pmMinisterial opening keynote
Abdourahmane Cissé, Minister of Budget and State-Owned Entities, Government of Côte d’Ivoire
4:00pmPresentation: Geopolitical and economic outlook for Africa
- What are the economic risks and opportunities in Africa from 2018 and beyond?
- How will new US foreign policy impact on geopolitical challenges across Africa?
- How do Africa’s 17 fragile or conflict affected states fit into the wider African economy?
- What is the geopolitical outlook for Africa’s Conflict Affected States? (CASA)
- Which other African states risk being defined as ‘fragile’?
4:20pmInterview: IFC Creating Markets Strategy
4:40pmPanel discussion: Redefining fragility in the African context
- What does fragility mean in the African context?
- How do you create a strategy for operating in a country impacted by natural disasters or epidemics?
- How do you create a strategy for investing in countries suffering weak governance and conflict?
- How do you define risk in a fragile and conflicted affected context?
- How do you ensure that Africa’s economic growth positively affects the lives of all citizens in a country going through post-conflict rebound?
- How do you deliver on corporate governance requirements in a fragile state?
Grete Faremo, Under-Secretary-General, United Nations (UN) and Executive Director, UN Office for Project Services (UNOPS)
5:30pmChair’s closing remarks
Agenda - 14th Sep
8:00amRegistration and refreshments
9:00amChair’s opening remarks
John Aglionby, East Africa Correspondent, Financial Times
9:10amOpening keynote address
9:30amKeynote interview with a bank CEO
9:50amFireside chat: Creating opportunities after ebola
Olivier Buyoya, Resident Representative for Guinea, IFC
10:10amPanel discussion: Lessons learned in Africa
- Trade not aid – what is the role of the private sector in rebuilding fragile and conflict-affected states?
- What can we learn from successes in other fragile and conflict-affected regions?
- How do you develop policies that benefit citizens as well as investors?
- How do you encourage risk taking and promote economic growth in fragile and conflict-affected states?
- How do you ensure that ESG requirements are met in a fragile country?
- How do you develop a conflict sensitive approach to development?
Gerald Tanyi, Manager, Legal Department, IFC
11:30amGlobal investor insight: Learning from experience
- What can the banking and finance sector learn from corporates that have invested in a fragile state?
- How do you manage risk to staff, assets, brand and profit in a fragile state?
- What is the role of technology in risk management?
- How do you deliver on corporate governance requirements in a fragile and conflict-affected state?
11:50amPanel discussion: Enabling growth with mobile and digital technology
- Mobile and the microfinance revolution: what are the wider implications and opportunities?
- Connecting the unconnected: what are the connectivity barriers in Africa’s fragile states?
- How do you enable consumers and businesses to send, spend and receive money? What payments and products are best suited for Africa’s fragile nations?
- What is the role of new technology in providing opportunities to the poorest in Africa?
- How do you develop secure, flexible mobile financial platforms?
- How do you create KYC policies that really work and meet international requirements?
- How do you enable cross-border transactions?
- How do you use mobile and digital technology to deliver benefits to refugees?
- What ESG considerations should you make when it comes to delivering financial products to some of Africa’s poorest communities?
- How do you manage risks associated with mobile and digital technology?
Mohamed Dabbour, Executive Vice President, Africa, Millicom
Momoh Kemoh Konte, Chairman and Commissioner,National Telecommunications Commission (NATCOM), Sierra Leone
Chris Low, CEO, Letshego Holdings
Joy Macknight, Deputy Editor, The Banker
12:40pmInterview: Empowering women: the role of gender financing in fragile states
2:10pmInterview: Innovation and entrepreneurship
- How can you support innovation at a local level through international investment?
- What are the new emerging projects across Africa: taking inspiration at local level?
- What are the key success factors in teams working at local level and external experts?
- How can microfinance be used to promote the emerging role of women?
- How can entrepreneurial hubs deliver on ESG requirements?
- What are the advantages and disadvantages to pursuing a dual-branded project?
- What are the factors to consider when determining which teams can work together?
- How can owners and investors protect their profits from future fragile fluctuations and changes in government regulations?
- How do you deliver on needs for technology solutions and creative use of available space?
- How do you address risk at a local level?
Joy Macknight, Deputy Editor, The Banker
2:30pmPanel discussion: Trade finance – Are banks becoming unbanked?
- What more can be done to encourage confirming banks to maintain their corresponding banking networks?
- Can multilateral development banks further increase their support for trade facilitation programmes?
- What kind of additional trade facilitation programme do fragile economies need? eg supply chain, structured trade?
- How can we grow international banking relationships that start with trade finance to benefit companies and the broader economy?
Alain Nounke, Portfolio Manager for Financial Institutions in Africa, IFC
3:50pmInterview: Change and reputational management to support development in fragile economies
- From fragility to resilience: How do you achieve the end goal in project management?
- How can governments and the private sector work together to benefit some of the most deprived people in the world?
- How do you manage people in a risky and volatile environment?
- How do you set and uphold standards in change management projects?
- How do you keep stakeholders and existing customers on board in a risky location?
4:10pmPanel discussion: Risk models and financial tools
- What is the role of financial sector development in addressing fragility?
- What are the impact/outcomes from development partners’ interventions in supporting financial sector development in African countries facing fragile situations?
- What evidence is available that these interventions have helped reduce fragility?
- How do you apply risk modelling techniques and technology tools for improved outcomes?
- How do you deploy innovative finance instruments to help mitigate risks?
- What financing models should you adopt across the life-cycle of a project?
- How do you model liquidity risk for fragile countries?
- What is the role of Government and credit guarantee schedules in supporting private enterprises in fragile economies?
5:00pmClosing keynote address: A central banker’s perspective of risk in Africa
5:20pmChair’s closing remarks
John Aglionby, East Africa Correspondent, Financial Times
Marcos Brujis, Global Industry Director, Financial Institutions Group IFC
Presented by (1)
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 840,000. Mobile is an increasingly important channel for the FT, driving more than half of total traffic.
In partnership with (1)
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity.We utilize and leverage our products and services—as well as products and services of other institutions in the World Bank Group—to provide development solutions customized to meet clients’ needs. We apply our financial resources, technical expertise, global experience, and innovative thinking to help our partners overcome financial, operational, and political challenges.IFC is also a leading mobilizer of third-party resources for its projects. Our willingness to engage in difficult environments and our leadership in crowding-in private finance enable us to extend our footprint and have a development impact well beyond our direct resources.