Africa Financial Industry Summit (AFIS)

An Alliance side event was held at the AFIS summit to introduce the Alliance and the concept of it’s project-driven platform to financial industry stakeholders. The event was moderated by Jeune Afrique, and was attended on the Togolese government side by Honorable Mireille Dossou-d’Almeida, Minister of Grassroot Business Development (Ministre du Développement à la Base). Pascal Fourcait, Trésor’s Head of the Economic Department, delivered opening remarks that provided a background on the Alliance, what we have done and where the Alliance is headed, emphasising the project-driven nature of the AforE platform.

A roundtable was held with Mary Wangari Wame, Group Executive Director from Ecobank, Jules Ngankan, CEO of the African Guarantee Fund, and Marcel Digby, Managing Director of Cofina Togo, to engage African actors. This was followed by the signing of two portfolio guarantees between Ecobank and Proparco, demonstrating the operationalization of the Alliance.

Alliance participants included Proparco, EDFI’s member FMO, and IFC, who presented projects. Additionally, FMO’s CEO, Michael Jongeneel, joined a fully-packed room with more than 50 guests and media. The discussions were highly engaging, with active audience participation. Key points and questions raised by participants focused on joining the Alliance, demand-side support for SMEs to become investment-ready, and issues around FOREX and local currency financing.