1. 2015 Annual AADFI CEO Forum

    2015-Annual-AADFI-CEO-Forum-photo The 2015 Annual AADFI CEO Forum of African Development Banks and Finance Institutions on the theme “Strengthening African DFIs with Appropriate Standards and Guidelines: 5th Peer Review & Rating of AADFI Member-Institutions” was held at the Speke Resort & Conference Centre, Munyonyo, Kampala- Republic of Uganda from 11-13 November, 2015. The Forum marked the conduct of the 5th Peer Review of AADFI member–institutions which involved a review of the results obtained from individual self-assessments with the Association’s Prudential Standards, Guidelines and Rating System (PSGRS).

    The Forum also provided opportunity for CEOs of Development Finance Institutions (DFIs) to review with all stakeholders, namely Director Generals in the DFIs supervisory Ministries, Governors and Heads of relevant Departments in the Central Banks, the implementation and application of the PSGRS Mechanism in DFIs after the 4th Peer Review of member-institutions with the AADFI PSGRS conducted in November 2014. It also examined member-institutions’ PSGRS Summary Ratings Score Sheets and Self-Assessment Results and approved the ratings awarded to them. The Forum enabled participants to identify aspects of the PSGRS Mechanism that needed to be revisited and suggested strategies on how the application of the PSGRS in DFIs could be strengthened. Finally, it served as a platform to share experiences of regulatory authorities in supervising DFIs with the PSGRS, network among CEOs and Stakeholders in development financing, discuss the way forward with the Peer Review and current issues concerning the DFI Sector in Africa.

    Forty-six (46) African national institutions (including 26 ordinary AADFI member-institutions and 4 special AADFI member-institutions and 16 non AADFI member-institutions) submitted their self-assessment to the Peer Review.

    The number of participating institutions being the highest so far recorded, indicates the increasing effectiveness of the PSGRS.

    Visit AADFI to read more.

  2. AADFI Chief Executives Successfully Complete Third Peer Review Exercise At Ceos Forum In Mombasa – Republic Of Kenya, 13-15 November 2013

    The 2013 Annual AADFI CEOs Forum of African Development Banks and Finance Institutions on the theme “Strengthening African DFIs with Appropriate Standards and Guidelines: 3rd Peer Review & Rating of African DFIs” was held at the Serena Beach Hotel & Spa, Mombasa Republic of Kenya from 13-15 November, 2013. The Forum marked the conduct of the 3rd Peer Review of DFIs with the AADFI Prudential Standards, Guidelines and Rating System (PSGRS).

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  3. AADFI organizes workshop on Promotion & Financing of Renewable Energy Businesses

    The Association of African Development Finance Institutions (AADFI), in
    partnership with SADC–DFRC, Development Bank of Southern Africa (DBSA)
    Vulindlela Academy and the African Development Institute (ADI) of the African
    Development Bank Group (AfDB), held a workshop on Promotion & Financing of
    Renewable Energy Businesses from March 5-9, 2012 in Midrand, Republic of South Africa.

    The objectives of the workshop were to sensitize DFIs on the status and current trends in renewable energy agenda in Africa; share experiences of successful small and medium renewable energy projects in Africa, and _ enlighten DFIs on how to set up and strengthen renewable energy unit in their institutions. In addition, the workshop aimed to discuss prospects of mobilizing finance from various sources to support lending to renewable energy businesses. The programme marked the launch of the green programme of the African national DFIs particularly in the area of promotion of renewable energy.

    The workshop was attended by a total of 61 participants comprising CEOs,
    Directors and Senior Management Executives in African DFIs, as well as resource persons. Also present, were senior officials of International and Private Organizations involved in promoting and financing renewable energy projects. The participants came from 23 institutions in 17 African countries namely: Angola, Egypt, Ghana, Kenya, Lesotho, Mozambique, Namibia, Niger, Nigeria, Seychelles, South Africa, Sudan, Swaziland, Tanzania, Togo, Zambia and Zimbabwe.

    More on this link: http://www.adfi-ci.org/

  4. AADFI Chief Executives successfully complete second peer review exercise at CEOs Forum

    AADFI CHIEF EXECUTIVES SUCCESSFULLY COMPLETE
    SECOND PEER REVIEW EXERCISE AT CEOs FORUM
    IN KINSHASA – D. R. CONGO

    The 2011 Annual AADFI CEOs Forum of African Development Banks and Finance Institutions on the theme “Strengthening African DFIs with Appropriate Standards and Guidelines: 2nd Peer Review & Rating of AADFI Member-Institutions” was held at the Grand Hotel Kinshasa, Democratic Republic of Congo from 7 -9 November, 2011. The Forum marked the conduct of the 2nd Peer Review of AADFI member–institutions which involved a review of the results obtained from individual self- assessments with the Association’s Prudential Standards, Guidelines and Rating System (PSGRS).
    The Forum also provided opportunity for CEOs of Development Finance Institutions (DFIs) and other key stakeholders to review the implementation and application of the PSGRS in DFIs after the 1st Peer Review of member-institutions conducted in November 2009. It served as a platform to share experiences of regulatory authorities in supervising DFIs with the PSGRS, evolved strategy to sustain Stakeholders’ commitments to the Mechanism and deepening awareness and strengthening the application of PSGRS in member-institutions.

    Thirty (30) member–institutions (including 27 national DFIs and 3 regional institutions) submitted their self-assessment for the Peer Review. The result which was announced, by the Review Consultant, Mr Paul Yuma Morisho of Group Challenge SA (Côte d’Ivoire), showed that the following 10 institutions scored above 80% mark for best performance in the following areas and order: http://www.adfi-ci.org/news/?id=50

  5. AADFI holds its 2011 Annual Forum for CEOs in Kinshasa, Democratic Republic of Congo

    The Association of African Development Finance Institutions (AADFI) will hold its 2011 Annual Forum for CEOs in African Development Banking and Finance Institutions at the Grand Hotel Kinshasa, Kinshasa-Democratic Republic of Congo from November 7-9, 2011. The Forum is being organized in association with the African Development Bank (AfDB) as co-initiator of the DFIs Prudential Standards, Guidelines and Rating System (PSGRS) Project. It is a bilingual program in English and French on the theme: “Strengthening African DFIs with Appropriate Standards and Guidelines: 2nd Peer Review & Rating of AADFI Member-Institutions”. The host institution is Fonds de Promotion de l’Industrie (FPI).

    The Official Opening Ceremony of this Forum will take place on Tuesday 8 November, 2011 at 9 am under the Distinguished Patronage of His Excellency the President of the Democratic Republic of Congo and will be presided over by the Honourable Prime Minister of the Democratic Republic of Congo. Ministers responsible for DFIs Supervision of some African countries, the President of the African Development Bank, Central Banks Governors will also address the participants on the theme.

    The objective of the 2011 Forum is to provide opportunity to CEOs of Development Finance Institutions (DFIs) to review with all stakeholders, namely Director Generals in the DFIs supervisory Ministries, Governors and Heads of relevant Departments in the Central Banks, the implementation and application of the PSGRS Mechanism in DFIs after the 1st Peer Review of member-institutions with the AADFI PSGRS conducted in November 2009. The Forum will also examine member-institutions’ PSGRS Summary Ratings Score Sheets and Self-Assessment Results and will enable participants to address any institutional weaknesses identified from the completed assessment forms and find ways and means for implementing proposed reforms in their respective DFIs. Furthermore, it will enable participants to build and strengthen the application of the PSGRS, evolve strategy to sustain Stakeholders’ commitments on the PSGRS Mechanism, evaluate current procedure for conducting the Peer Review with a view to recommending areas of adjustments and improvements and review the effectiveness of implementation of the PSGRS in member-institutions and share success stories. Finally, the Forum will serve as a platform to share experiences of regulatory authorities in supervising DFIs with the PSGRS, network among CEOs and Stakeholders in development financing, and to discuss the way forward after the 2nd Peer Review.

    About 100 participants from Africa and throughout the world are expected at this Forum. In addition to CEOs, their Deputies and Senior Management Staff in National and Sub-regional DFIs, the target participants are the Director Generals in the DFIs supervisory Ministries, Governors and Heads of relevant Departments in the Central Banks, e.g. Departments responsible for supervising DFIs and/or NBFIs as well as Chairmen of Boards of DFIs, Representatives of Multilateral Banks/Organisations including the World Bank, the UN, the AU, ECOWAS, CenSad, SADC and bilateral donor agencies. The Association of African Development Finance Institutions (AADFI) is a continental organisation established under the auspices of the African Development Bank in 1975. The AADFI has its Headquarters in Abidjan, Republic of Côte d’Ivoire. It has about 80 members made up of national and multinational institutions engaged in finance and development activities in Africa. It has also the status of Observer at the World Bank and is a member of the World Federation of Development Finance Institutions (WFDFI).

    Local member-institution of the Association in the Democratic Republic of Congo is Fonds de Promotion de l’Industrie (FPI) whose Managing Director Mr. Constantin Mbengele Kwete Thamuk is the AADFI Alternate Representative for Central Africa.

    The current Chairman of the Association is Mr. Peter M. Noni, Managing Director of Tanzania Investment Bank (TIB).

    National and international media organisations and agencies are invited to cover the 2009 Annual AADFI Forum for CEOs.

  6. TIB’s Peter M. Noni, New AADFI Chairman

    The Association of African Development Finance Institutions (AADFI) held its 37th Ordinary General Assembly in Lisbon, Republic of Portugal on 7 June, 2011.

    The Opening Ceremony, the working session and the Closing Ceremony took place at the Lisbon Congress Centre, Auditorium III, Lisbon-Portugal. After introductory remarks by Mr. J. A. Amihere, Secretary General of AADFI, opening statements were made by Mr. Mvuleni Geoffrey Qhena, outgoing Chairman of AADFI; Mr. Nkosana Moyo, Vice-President & Chief Operating Officer of the African Development Bank, representing the AfDB President.

    Over 80 delegates from 46 member and partner-institutions as well as observers participated in the 37th Ordinary General Assembly.

    The OGA elected Mr. Peter M. Noni, Managing Director, Tanzania Investment Bank (TIB) as the Chairman of AADFI and some officials of member-institutions as members of the Executive Committee. In one of the several resolutions adopted, the Assembly appointed the outgoing Chairman Mr. Mvuleni Geoffrey Qhena as Honorary Chairman of the Association in recognition of the immense services which Mr. Mvuleni Geoffrey Qhena rendered to the Association, as well as his willingness to serve at all times during his term of office as Chairman from May 2007 to June 2011.

    Mr. Peter M. Noni became the Tanzania Investment Bank (TIB)’s Managing Director on 10th June 2009. He is a holder of BA (Hons.) in Economics from the University of Dar es Salaam and MA in Development Studies in Economic Policy & Planning from the Institute of Social Studies in The Hague. He also has training in Financial Analysis & Policy from the IMF Institute in Washington D.C. and has attended various courses, international seminars and workshops in Central Banking organized by the AfDB, the IMF and the World Bank.

    Before becoming the Managing Director of TIB, Mr. Noni worked with the Bank of Tanzania for 35 years in different positions, including as the Director for Economic Policy from 1996 to March 2005, and as Director of Strategic Planning & Performance Review from March 2005 to June 2009, when he also served as the Coordinator of the World Bank-funded Second Generation Financial Sector Reform Programme.

    His credentials also cover a wide array of experience from various activities and memberships of Boards of Directors. These include: serving on the Board of Trustees of the Institute of Finance Management and the National Social Security Fund; Member of National Task Forces such as the National Task Force on Review of Tanzania’s Tax Structure, National Task Force on National Debt Strategy, National Task Force on Export Development Strategy and National Task Force on Economic Empowerment Policy.

    Mr. Noni also served as Chairman of the Secretariat of the Joint Finance Commission from 2003 to May 2009 and since 2010, he has been serving on the Board of Trustees of the National Economic Empowerment Council of Tanzania.

  7. Over 6 million people to benefit from European funds for South African water

    Three European development finance partners and the Development Bank of Southern Africa (DBSA) today formally agreed to finance the Mooi-Mgeni water supply project in KwaZulu-Natal. The agreements were signed at an event in Rosetta to mark the start of construction for the Mooi-Mgeni project. The European Investment Bank, the French Agency for Development and Germany’s KfW Entwicklungsbank (The German Development Bank), all with a strong track record of supporting water projects in South Africa, signed contracts to provide loan funding for EUR 195 million (approximately ZAR1.8 billion), to the Trans-Caledon Tunnel Authority. Finance contracts were signed by representatives of the financial institutions and James Ndlovu, Chief Executive Officer of the Trans-Caledon Tunnel Authority in the presence of South Africa’s Minister of Water and Environmental Affairs Edna Molewa and Dr Zweli Mkhize, Premier of Kaw-Zulu Natal.

    The Mooi Mgeni project will provide water to the Mgeni System that supplies water to 6.3 million people living in the municipalities of Ethekwini, uMgungundlovu and uMsunduzi in KwaZulu-Natal. The project includes construction of the Spring Grove Dam on the Mooi River at Rosetta in the KwaZulu-Natal Midlands. Work at this site was launched today by a sod-turning ceremony. The scheme also includes a conveyance system to transfer water to the Mgeni River catchment. Once constructed, the project improve the security of supply of water in the region, provide an extra 60 million cubic metres each year and address water delivery backlogs.
    Highlighting the importance of the project, Plutarchos Sakellaris, European Investment Bank Vice President for Africa said “Availability of clean water is crucial for life and contributing to improved water supply in South Africa is a priority for the European Investment Bank. We are pleased to contribute to more effective financial support for this flagship initiative as lead financier under the Mutual Reliance Initiative.”
    In the context of President Zuma’s visit in France in March 2011, Dov Zerah, AFD General Manager underlined “the key importance of securing access to water to guarantee a sustainable urban development in South Africa”.

    “The project makes a significant contribution to the improvement of the environmental protection in the greater area of Durban and supports the economic development of the region,” stated Dr. Norbert Kloppenburg, member of the Executive Board of KfW Bankengruppe.
    “Our financial commitment in this project is in line with our mandate of assisting government in the expansion and rehabilitation of infrastructure which is one of the priority sectors. This contribution will go a long way in ensuring that millions of South Africans have access to clean water”, says T.P. Nchocho, DBSA Group Executive.

    The Mooi Mgeni water project is the first time that the three institutions have streamlined financial cooperation in South Africa, under their Mutual Reliance Initiative intended to enhance the efficiency of large scale development finance projects. The three European institutions also used this occasion to sign a Common Project Terms Agreement that outlines their respective roles and common engagement.
    The total cost of the project is ZAR 2.2 billion, approximately EUR 225 million. The project will be co-financed by the European Investment Bank (EUR 80 million), the French Agency for Development (EUR 70 million) and the German KfW (EUR 45 million), that are all public development finance institutions that implement the European Union’s, French Government’s and German Government’s respective development policies. The Mooi Mgeni project will also be supported by ZAR 250 million from the Development Bank of Southern Africa (DBSA).

    The project will be managed by the Trans-Caledon Tunnel Authority (TCTA), a state-owned water management body responsible for bulk raw water implementation in South Africa, under the authority of the South African Department of Water Affairs. Water access and supply is one of the priorities of the South African Government.

    Since 1995, the European Investment Bank, AFD and KfW have supported South African economic growth by funding large infrastructure programs, such as this bulk water project, which are key to improving quality of life and economic development in South African.
    For more details follow this link: http://www.dbsa.org/%28S%28ityjh355ustaqd45l2xo5a55%29%29/Latest%20News/Pages/default.aspx

  8. IDC takes new path to grow the tourism industry

    The Industrial Development Corporation (IDC) has identified rural nodes and non-accommodation sub-sectors as strategic areas to facilitate job creation and grow the tourism sector. Christine Engelbrecht, head of the tourism business unit, says the IDC plans to contribute to government’s goals of creating jobs by funding more viable businesses and projects.

    “Tourism is one of the priority sectors identified in government’s New Growth Path (NGP). The IDC has injected R249-million in various tourism projects in the last financial year, creating 944 direct jobs,” says Engelbrecht.
    However, Engelbrecht says, despite these successes, the tourism industry has not been immune to the financial turmoil in global markets.

    “The industry is struggling, and recovery is going to be long, slow and difficult. Major hotel operators are consolidating at the moment and an oversupply of rooms means major new developments in the main city centres are not on the cards,” she says.

    The NGP highlights tourism as central to job creation and aims to remove some of the obstacles to the growth of the industry.
    Engelbrecht says the IDC is now focusing on underdeveloped parts of South Africa, the rest of the continent and niche tourism sectors.

    “Our new approach is aimed at improving the spread of tourism businesses. This means focusing on undeveloped nodes, particularly in Limpopo, Mpumalanga and the Eastern Cape, as well as the poorer rural areas of other provinces. We’re also looking at tourism businesses in townships, developments on community land with community participation, and other broad-based black economic empowerment initiatives.”

    In line with this, some of the projects the IDC is currently looking at include a beach tourism resort in KwaZulu-Natal, a kite-surfing development in the Western Cape, and an extreme sport facility in the Northern Cape – South Africa’s most underdeveloped province.

    Source: http://www.idc.co.za/media/media-releases.asp?GroupCode=&ArticleId=239

  9. 2nd Conference of Training & HR Managers in DFIs

    Venue & language : Luanda – Angola, English/French

    Date & duration : May 2011, 9 – 13

    Objective

    Update knowledge on current trends in HR practices and capacity building in DFIs, develop stakeholders’ partnership in promoting capacity – building as a success strategy for DFIs. Discuss strategies for re-engineering human resources in DFIs.

    Who should attend ?

    HR & Training Managers, Personnel & Administrative Managers

    Follow this link for more details, http://www.adfi-ci.org/trainings/?id=46