Banking the Unbanked: An African Model In the Making
President Denis Sassou N’Guesso of the Republic of Congo presided today Friday 25th July 2014 the third edition of Forbes Africa economic forum, which brought together some key African heads of state like President Alpha Konde of Guinea, President Mahamadou Issoufou of Niger, Vice president of Gabon Ayima Ayima and former French president Nicolas Sarkozy as well as influential figures from the African and international economic and political circles.
The forum brought together some 200 international experts and stakeholders recognized in the business world that spoke on the on the impact of banking on economic and social development of societies and policy solutions to promote banking in Africa but also the importance of innovation in the banking industry.
During the forum we saw interesting presentations from international industry experts on the impact of banking on the socio-economic development of the African continent with the importance of innovation in the banking sector. A good example being mobile money, Charles Kie Group head corporate bank Ecobank Transitional Incorporated and Mr Alban Luherne Director for Africa, Middle East & Asia, Orange Money during their presentation defended the idea of banks working with mobile service providers in penetrating the rural communities with products like mobile money.
Mr Jeffrey Sachs, director of the Earth Institute, Columbia University and author “To Move the world” and “The end of Poverty” made a key note speech urging Africa and African leaders to take the opportunity of time. He quoted the example of the Chinese who took the opportunity of time in the 90’s and today has become one of the strongest economies of the world. This is the time and this is Africa’s moment, united together we can make. HE Denis Sassou Nguessou President of the Republic of Congo made the closing remarks outlining the importance of South-South financing and corporation and inviting everyone for the 4th edition of Forbes Africa to be hosted by a different country.
Taniform Jude Awambeng
Attending as Regional Director for Ametrade Ltd