AfDB/AFMI Annual 5th Local Currency Bonds and Financial Sector Development Workshop

15th & 16th December 2016

Introduction

Introduction

The African Financial Markets Initiative hosted the AfDB/AFMI Annual 5th Local Currency Bonds and Financial Sector Development Workshop on 15th and 16th of December 2016, in Abidjan, Ivory Coast.

Agenda

Agenda for the 5th (AFMI) African Financial Workshop on local currency bonds and financial markets development.

Day 1: Thursday, 15th December 2016

08:00 - 08:30

Registration of participants

08:30 - 09:15

Welcome

Welcome remarks:

Mrs Kaba NIALE, Honourable Ministry of Plan, Côte d’Ivoire

Mr. Stefan NALLETAMBY, Director Financial Sector, AfDB

Mr. Charles LUFUMPA, Director Economic Statistic, AfDB

Mr. Antoine TRAORE, Bank Activities Director, BCEAO

09:15 - 09:45

Coffee - Group Photo

Session 1

09:45 - 11:00

AFRICAN DOMESTIC BOND FUND

a. Macro Focus and ADBF Presentation

Mr. Cedric MBENG MEZUI, AFMI Coordinator, AfDB

b. Presentation of the ADBF

Mr. Anliou MEITE, AFMI Knowledge Manager, AfDB

Expected outcomes:

 Awareness, Investment opportunities

Session 2

11:00– 12:00

Panel discussion with private sector and potential investors:

Mr. Stefan NALLETAMBY, Director Financial Sector, AfDB; Mr. Rony LAM, CEO, MCB Capital;

Mr. Kone SEYDOU, Director of Finance Accounts, AfricaRe Representative;

Mr. David UDUANU, Chair of Nigerian Pension Funds Association;

Mr. Peter SULLIVAN, Managing Director Head of Africa, Citibank.

(Moderated by Esther Awoniyi, CNBC Africa)

Expected outcomes:

How the Bond Fund could impact the development of the Bond Markets in Africa.

12:00 – 13:00

Lunch Break

Session 3

13:15 – 14:20

Panel discussion with private sector and potential investors:

Mr. Stefan NALLETAMBY, Director Financial Sector, AfDB; Mr. Rony LAM, CEO, MCB Capital;

Mr. Kone SEYDOU, Director of Finance Accounts, AfricaRe Representative;

Mr. David UDUANU, Chair of Nigerian Pension Funds Association;

Mr. Peter SULLIVAN, Managing Director Head of Africa, Citibank.

(Moderated by Esther Awoniyi, CNBC Africa)

Expected outcomes:

How investors can invest in the Fund? Address the different issues (Access, Transaction Costs, Risk/Return Asymmetry, Liquidity and Regulation).

14:20 – 14:50

Closing remarks and recommendations

Mrs Stella KILONZO, Division Manager Capital Markets, AfDB

14:50 - 15:10

Press Briefing and Coffee break

15:10 - 16:10

B2B Meetings.

19:00 – 24:00

Dinner / Gala (by invitation only)

Keynote Speaker: Mr. Lionel ZINSOU, President of AfricaFrance & Member of the Executive Committee of PAI Partners

Day 2: Friday, 16th December 2016 – Closed Session

Session 1

9:00 – 12:00

Simultaneous Workshops (AFMI / ESTA/MFW4A)

ESTA/AFMI/MFW4A workshop on insurance/Banking and pension sector data validation

Session 2

12:00 – 15:00

Lunch and Abidjan visit

15:00

Delegates departure

Concept Note

AFMI 5th Annual Local Currency Bonds and Financial Sector Development Workshop - 15th–16th December 2016, Abidjan, Cote d’Ivoire

1. Introduction and context 

In 2008, the African Development Bank (AfDB) launched the African Financial Markets Initiative (AFMI) as part of its strategy to develop the financial markets sector in Africa. This initiative aims to contribute to the development of domestic bond markets in Africa through its two complementary pillars: i) the African Financial Markets Database (AFMD) and ii) the African Domestic Bond Fund (ADBF). 

To create the database, a data collection exercise with African Central Banks was launched in April 2008. Liaison Officers were appointed by Central Bank Governors to assist with the collection of all information and data necessary to feed the database. Today the database (www.africanbondmarkets.org) includes data on the bond market infrastructure and/or fixed-income instruments of 41 countries.
Moreover, the Bank in its efforts to respond to the increasing demand for statistical financial data and indicators has created a database with a set of indicators that covers the financial sector in 52 African countries over the period 2005 to 2014. 

2. Rationale for workshop 


Since its inception, AFMI’s goal is to further develop debt markets in Africa, by strengthening the domestic bond market and by investing in local currency-denominated debt to improve capital markets’ long-term resilience. Its specific objectives are: (i) to enable governments to improve the terms at which they borrow in domestic financial markets, thus reducing their dependence on foreign currency denominated debt; (ii) to increase financing options available to corporate sectors; (iii) to act as a catalyst for the development and stability of financial markets as well as for regional financial market integration; and (iv) to improve the availability and transparency of African fixed income data.
The workshop will also be an opportunity to further hone the data collection skills of our Liaison Officers so as to address some of the inconsistencies that we have seen due to quality and completeness of the data stemming from: Weak ownership of the initiative by the Liaison Officers; The financial markets are either embryonic or lack specific methodology for the development of some key financial indicators; 
Limited skills in public structures in the area of capital markets in general and in the field of public debt markets, in particular.

3. Objective of the workshop 

Overall, the objectives of hosting a training workshop for Liaison Officers are to increase the regional coverage of the data required by the Bank and to improve the quality of data collected. Specifically, the workshop will achieve the following objectives:  

  1. To present the African Domestic Bond Fund (ADBF). 
  2. To present the recent developments of the financial sector in Africa
  3. To improve the completeness and quality of data; 
  4. To improve the quality whilst also increasing the amount of data collected in all RMCs; 
  5. To increase finance ministers and central bank governors’ awareness on the importance of AFMI’s mandate.
 

4. Expected outcomes 

The expected outcomes of the workshop are: 


  1. To seek interest and receive commitment of potential investors for the ADBF;
  2. To initiate a dialogue platform with governments and central banks on public debt market management
  3. Reaffirmation by Liaison Officers to respect the timetable to update the data as required by the initiative and its website; 
  4. Provide attendees with an understanding and appreciation of the importance of reliable, timely and accurate information for the financial markets.
  5. The Liaison Officers will have a better understanding of the value and use of the data they provide in advancing the development of local currency bond markets in Africa. 

5. Format of the workshop 

The Event will run over the course of two days. 

Day 1: It will comprise 3 sessions



Session 1: The first session will be a presentation of the proposed African Domestic Bond Markets Structure (ADBF). 


It will start with a presentation of the AfDB/AFMISM Bloomberg African Bond Index (ABABI) followed by a presentation of the ADBF.



Session 2: A panel discussion or roundtable [with Central Bank Governors of countries 

included in ABABI, the VP finance and AFMI chairman] on how the Bond Fund could impact the development of the Bond Market in Africa. 



Session 3: This will start by a panel [with potential investors and the private sector; Pensions, Insurance etc... and VP OIVP] to discuss investment opportunities, ADBF and the need to broaden the investors’ base, ETF, and how to invest in the fund.



During the day, a showroom will take place giving different Financial Services Providers (Thomson Reuters, S&P, Moody, Factset, Bloomberg, Bloomfield investments etc) the opportunity to showcase their business and products.
The day will end with a presentation of the next steps regarding the implementation of the ADBF. 

In the evening, participants will be invited to attend a Gala.

Day 2: Two sessions dedicated to closed thematic workshops.


In the first closed session, AFMI will present the initiative as well as the African Markets Database with an update on the current status of data collection.


In the second session, ESTA will present the Open Data Platform followed by AFMI Data portal and website presentation.

AFMI, ESTA and MFW4A will hold workshops with insurers and pensions on data validation.
The day will end with a visit of Abidjan 

6. Participants 

The workshop will bring together more than 60 Liaison Officers, officially appointed by their Central Bank Governors, Ministries of Finance and some representatives of national or sub-region organizations directly involved with collecting data on domestic financial markets and stakeholders from the private sector, insurances as well as well as potential investors.  Overall the event is expected to bring together more than 500 attendees.


7. Language of the workshop 

The conference and the workshops will be conducted in French and English. Simultaneous interpretation will be provided. 

8. Date and venue of the event 

The conference and workshop will be held in Abidjan, Cote d’Ivoire from the 15th to 16th December 2016.

9. Contacts

For more information, please contact the AFMI team:

Email: afmi@afdb.org

Twitter: @afmi_afdb.org

Facebook: African Financial Markets Initiative

Website: http://www.africanbondmarkets.org/en/


Tel: +225 20 26 38 13 / 23 29 54 89

Photos

The Conference

AFMI Conference Workshop, December 15th, 2016

Dinner / Gala

AFMI Dîner / Gala

Videos

Best of AFMI

AFMI Conference-Workshop - SESSION 1

AFMI Conference-Workshop - SESSION 2

AFMI Conference-Workshop - SESSION 3

AFMI Conference-Workshop - SESSION 4

AFMI : Discours de Lionel Zinsou

AFMI : Discours de Cedric MBENG Mezui

Reportage Vox Africa

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