Ruurd Brouwer

🌍 We kicked off Day 2 of #AVCA2024 with our inaugural Regional Forums – a symposium for knowledge exchange and dialogue about private capital in East, West, North and Southern Africa   These sessions convened capital allocators, fund managers, policymakers and portfolio companies for in-depth discussions about each region's distinct challenges and opportunities, fostering a deeper understanding of the continent’s diverse #fundraising, #investment and #exit landscape.   Ken Poonoosamy, CEO, Economic Development Board Mauritius said; "Despite the slowdown in GDP growth between 2010-2019, we have seen a robust expansion in #technology, #energy and emerging business sectors. I believe Mauritius can be the platform of choice for investment due to our steadfast alliance with our counterparts, and being a member of the African Union, Southern African Development Community Secretariat and Common Market For Eastern And Southern Africa."   Jean-Marie Kananura, Chief Investment Officer, Kigali International Financial Centre spoke on how “improvement in #regulation will allow businesses to create different and various structures of funds”, and how this plays a vital role in fostering a healthy and vibrant business environment, promoting economic growth, protecting stakeholders, and ensuring the stability and integrity of the financial system.   Hema Vallabh, Partner, Five35 Ventures spoke about how technology and #digitisation have become contentious and high growth sectors.   Manley Diedloff, Chief Executive Officer, Master Plastics spoke about how "you have to align your business technologies and mindset with global companies." We give special thanks to our East Africa Forum sponsor Kigali International Financial Centre and Africa Forum sponsor Economic Development Board Mauritius   View what else we have lined up today: https://lnkd.in/eGk9-ndj   #EastAfrica #SouthernAfrica #WestAfrica #NorthAfrica

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Delighted to see the relaunch of the South African Responsible Investment and Ownership (RIO) Guide, including a new self-assessment tool for pension funds. One of our practical reflections is the importance of developing tools and guidance that are relevant to and applicable to the relevant market/country. Designing/developing these tools requires understanding relevant regulatory requirements (national and international) and benchmarking/evaluating the state of play (on industry practice, on financial industry expertise, on wider industry practice, on regulatory agency capacity, and on resources, to name just a few!). Well done to all those involved, including Ben Gaffney, Robert Black, Mike Davies, Anne-Marie D Alton, Nhlanhla Siboto FIONA STEWART, Adam Matthews, Stephen Barrie, Elliot Frankal, Amanda Williams, Nicky Amos, Victoria Barron, Chronos Sustainability, IFC - International Finance Corporation, Mariana Escobar https://lnkd.in/eEP5XxwG

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++ RMB - Rand Merchant Bank Invests in Acre Export Finance Fund to Drive Climate-Aligned Infrastructure in #Africa ++ RMB one of Africa’s leading corporate and investment banks, has invested in Acre Export Finance Fund I which targets commercial debt tranches of Export Credit Agency (ECA) transactions supporting climate-aligned infrastructure in Africa. "By providing specialist funding for the commercial debt tranche and as a result unlocking the ECA guaranteed part of the transaction, the fund will enable the mobilisation of up to $2bln toward impact projects. ECA finance, by enabling access to long-term debt for borrowers in emerging markets, is seen as a key contributor to the reduction of the infrastructure financing gap in Africa, which is estimated to be over $100 billion every year." - Aymeric Perrin-Guinot, Senior Transactor ECA Finance, RMB London "RMB’s investment in the Fund demonstrates the positive role that African financial institutions are playing in supporting the financing of climate-aligned essential infrastructure in Africa. We are pleased to have received commitments from premier African investors such as RMB." - Hussein Sefian, CEO, Acre Impact Capital #techafricanews #africa #climate #aligned #infrastructure #financial #institutions #investments

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How do you support women's livelihood at scale? Join me to learn more about it in this African Economic Seminar Series event this Thursday, April 26, through this link: https://lnkd.in/gm25Q8rz

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The European Investment Bank (EIB) has invested €25 million (Sh3.5 billion) in Amethis Fund III. This pan-African fund provides private equity growth capital to medium-sized firms across the continent, including Kenya. The investment underscores the EIB's commitment to fostering economic growth and development in Africa by targeting sectors that serve low and middle-income populations. Amethis Fund III will focus on companies within key sectors such as healthcare, business services like logistics and IT, manufacturing, agribusiness, fast-moving consumer goods, non-banking financial services, infrastructure, and energy. These sectors are critical for the sustainable development of Africa, and the fund aims to address vital issues such as gender equality, sustainable employment, health coverage, and climate considerations. EIB Vice President, Thomas Östros, emphasized the bank's dedication to supporting African enterprises. He highlighted the potential and untapped opportunities within Africa and the need for patient equity capital to enable growth. The EIB's partnership with Amethis is aligned with its global investment goals and the European Union’s Global Gateway strategy, aiming to bolster economic development across sub-Saharan Africa. With a proven track record, Amethis has already supported over 30 African companies, employing more than 40,000 people. In Kenya, Amethis has invested in prominent brands like Naivas Limited and continues to seek opportunities to support more businesses. The EIB's nearly €3 billion (Sh430.65 billion) investment in equity funds focusing on Africa highlights its long-term commitment to the region's economic development. #EIB #Amethis #PrivateEquity #AfricaGrowth #EconomicDevelopment #SustainableInvestment #Healthcare #IT #Logistics #Manufacturing #Agribusiness #FinancialServices #Infrastructure #Energy #GenderEquality #ClimateAction #ImpactInvestment #Kenya #SubSaharanAfrica #GlobalGateway #InvestmentOpportunity To Read more: https://zurl.co/0wcv

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AfCFTA May UPDATE: Accelerating AFRICA’s development agenda in 2024: The #AfricanContinentalFreeTradeArea (AfCFTA) is the flagship project of the #AfricanUnion’s #Agenda2063, a blueprint for attaining inclusive and sustainable #development across the #continent over the next 50 years. It aims to boost #intraAfricantrade by providing a comprehensive and mutually beneficial #trade agreement among the member states, covering trade in goods and services, #investment, #intellectualpropertyrights and competition policy. The Agreement entered into force on 30 May, 2019 for the 24 countries that had deposited their instruments with the #AfricanUnionCommission (AUC) Chairperson – the designated depositary for this purpose. The #AfCFTASecretariat – charged with various responsibilities related to the implementation of the #AfCFTA – is hosted by Ghana. Wamkele Mene was officially appointed the first Secretary-General of the Secretariat on 19 March 2020, and is now serving his second term. The AfCFTA Secretariat was officially handed over in #Accra, #Ghana on 17 August 2020. Start of trading under the AfCFTA Agreement began on 1 January 2021. As at January 2024, Rules of Origin have been agreed on 92.3% of total tariff lines and the operationalisation of the Pan-African Payments and Settlements System (PAPSS) has been officially launched. On 7 October 2022, the AfCFTA Secretariat launched the AfCFTA Guided Trade Initiative (GTI) in #Accra to allow for commercially meaningful trade under the Agreement to commence for EIGHT (8) participating countries: #Cameroon 🇨🇲, #Egypt 🇪🇬, #Ghana 🇬🇭, #Kenya 🇰🇪, #Mauritius 🇲🇺, #Rwanda 🇷🇼, #Tanzania 🇹🇿 and #Tunisia 🇹🇳, representing the five regions of #AFRICA. This initiative is being used to pilot the operational, institutional, legal and trade policy environment under the AfCFTA. In 2024, the scope of the #GTI has been expanded in both product and country coverage across the five African regions and Islands States, with a total of thirty-five (35) State Parties having expressed interest to or have joined the initiative. As at May 2024, 47 of the 54 signatories (85.2%) have deposited their instruments of AfCFTA ratification with the #AUC Chairperson. Note: #Eritrea 🇪🇷 ONLY country not to sign the AfCFTA agreement. #BurkinaFaso 🇧🇫 #Guinea 🇬🇳 #Mali 🇲🇱 #Niger 🇳🇪 and #Gabon 🇬🇦 are currently SUSPENDED from the African Union. Slowly progressing towards #TheAfricaWeWant #UnitedUnderAfCFTA #AfricaYesWeCAN #TransformingAfrica #BrandAfrica #Africa #AfricaMeansBusiness #ThisIsAfrica #Diaspora #IT #OneAfrica #TransAfricanHighway #SMEs #CreatingOneAfricanMarket #Partnerships #AfCFTATV #BuildBackBetter #AfricanUnity #SAATM #TradeInAfrica #TradeUnderAfCFTA #JoinAfCFTA #AfricaOnTheMove #Tourism #Infrastructure #MadeInAfrica #AfCFTASecretariat #PanAfricanism #Investors #PAPSS #ZLECAF #StrongerTogether #TradeNotAid #AfricanSolutionsToAfricanProblems #Afreximbank #VisitAfrica #AfCFTA2024 #Africa2024

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"MFW4A aims to bring about systemic change in Africa’s financial sector, and in turn contribute to real sector impacts with strong links to the SDGs. MFW4A has identified key features of financial systems that are essential to addressing Africa’s most pressing challenges and set the continent on a path towards achieving the SDGs. These features are captured in our vision "“Deeper, innovative and stable African financial systems capable of improving people’s livelihoods, supporting a green transition, and driving inclusive development on the continent”".  Marina Finken, Partnership Coordinator. We invite you to explore our highlights from the past year, learn of our key achievements while gaining insight into how we are implementing our strategy and creating shared value for our stakeholders. The Making Finance Work for Africa (MFW4A) Annual Report is available here ⬇

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The total investable wealth currently held on the African continent amounts to USD 2.5 trillion and its millionaire population is set to rise by 65% over the next 10 year according to The Africa Wealth Report 2024 | Henley & Partners (henleyglobal.com)

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It's great to see the Multilateral Development Banks working for a Circular Economy. Read the following paper, "A Shared Vision for the Circular Economy." This collaboration underscores the vital role of MDBs in driving sustainable development. Let's unite for #CircularEconomy #WCEF2024 #ImpactInvesting

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RECAP: The African Development Bank’s sovereign portfolio retains top spot in Publish What You Fund's 2024 Aid Transparency Index - Bank praised for detailed publication of project objectives, impact appraisal documents, environmental studies and evaluation reports: https://bit.ly/4f1ihrt WATCH a snippet of the #2024Index launch below.

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My monthly Forbes Business Leadership Strategy column argues the success of the still-emerging 𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐂𝐨𝐧𝐭𝐢𝐧𝐞𝐧𝐭𝐚𝐥 𝐅𝐫𝐞𝐞 𝐓𝐫𝐚𝐝𝐞 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 (𝐀𝐟𝐂𝐅𝐓𝐀) will hinge on new institutional mechanisms not yet included: 𝐏𝐚𝐧-𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐏𝐮𝐛𝐥𝐢𝐜-𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 T𝐫𝐚𝐝𝐞 A𝐝𝐣𝐮𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 F𝐚𝐜𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐨𝐧 F𝐮𝐧𝐝s. These are largely part and parcel of other regions FTAs. Following years of working on the ground in Africa, both as an official of The World Bank and as a private equity investment executive, in this recent Forbes column argue that as important are substantial reforms in the 𝐭𝐫𝐚𝐝𝐞 𝐩𝐨𝐥𝐢𝐜𝐲 regimes of the 54 countries in Africa to enhance flows of intra-continental trade of goods and services—which are substantially lower than in any other region of the world—equally critical is the need to 𝐞𝐬𝐭𝐚𝐛𝐥𝐢𝐬𝐡 𝐚 𝐬𝐞𝐭 𝐨𝐟 𝐩𝐚𝐧-𝐀𝐟𝐫𝐢𝐜𝐚𝐧 𝐭𝐫𝐚𝐝𝐞 𝐚𝐝𝐣𝐮𝐬𝐭𝐦𝐞𝐧𝐭 𝐟𝐚𝐜𝐢𝐥𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐮𝐧𝐝𝐬 as public-private partnerships (#PPPs) to provide financial resources to: (i) modernize and harmonize the design and implementation of new continent-wide institutions and standards to facilitate cross-border trade; and (ii) support the ability of firms and workers dislodged by lower trade barriers to restructure, receive re-training, and relocate to take advantage of new market opportunities engendered by the increase in trade flows. The provisions proposed are a form of "trade adjustment assistance" found in developed countries. But, critically they would be far more robust, adequately funded, and designed as part of a basic "social contract" to facilitate the adjustments needed by African workers and firms to help the continent reach a higher level of economic growth made possible by stronger trade policies. Importantly, the twin funds would be structured as #public-#private #partnerships (#PPPs) and overseen by an independent board of directors with their management teams comprised of world-class executives. #AfCFTA #Africa #TradeAdustmentAssistance #TradeFacilitation

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The Regulatory Reforms in Uganda: A Private Equity Perspective #Uganda is putting in place favorable policies to attract #private equity investors, thanks to recent reforms aimed at improving the regulatory framework. The Ugandan Capital Markets Authority (CMA) and the Ministry of Finance are collaborating to address legal and fiscal barriers, promoting market-based financing options like #private equity, #venture capital, and #crowdfunding. Uganda has recently been removed from the Financial Action Task Force (#FATF) grey listing making it even more attractive having demonstrated the country's commitment to combat money laundering and terrorism financing This year on June 13th the East Africa Private Equity & Venture Capital Association (EAVCA) will be heading to Uganda for the 8th Edition of the EAVCA Annual Private Capital Conference with over 300 investors and advisors expected to attend! Reach out to Noblestride Capital via info@noblestride.co.ke for more information on #investment #opportunities in #Uganda Source: The East African #NoblestrideCapital #PrivateEquity #Fundraising #SSA https://lnkd.in/ePWGUswZ

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Fresh stories this week of opaque resource backed loans from private sector entities for #African countries are a reminder of the disaster that these arrangements have for the long term development of the continent. They are both a stranglehold on the development agenda, saddling governments with unsustainable levels of debt, and tying the hands of credible global bodies to respond to transparent and impact focused financial solutions, as well as a pathway for corruption to thrive. Zambia, Somalia, immediately come to mind. How many others must go through this difficulty and do the painful process of digging out from these errors through a process that takes years to achieve solutions to, and sees significant economic hardship for citizens. These deals have the potential to wipe out a generation of economic growth to line the pockets of the few. Saddened to see reports this week in mainstream media of yet more of these deals being negotiated that would see entire GDP of one African country swept away. Glad to see African Development Bank Group and International Monetary Fund and other IFIs stepping up the awareness and the tools to respond to these disastrous deals.

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The African Confederation of Co-operative Savings and Credit Associations (ACCOSCA) – Nairobi – Kenya ACCOSCA is a Pan-African confederation of national associations of savings and credit cooperatives societies. ACCOSCA opened its doors in 1968 and is currently being governed by domicile laws and the ACCOSCA constitution. It enjoys a goodwill gesture from its members and other stakeholders that are keen on making Africa a better place to live. The General Assembly which currently comprises of twenty seven countries is the highest organ of the organization. The General Assembly is held annually and is rotated within the region. It ensures that the activities of ACCOSCA remain relevant in meeting the challenges faced by Africa. It is in this respect that a bold step was taken to approve the Confederation's revitalizations program at the Malawi General assembly meeting in 2007. Currently ACCOSCA has developed programs aimed at improving socio-economic needs of https://lnkd.in/daAFD2rf #BUSINESS #COOPERATIVE

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Nairobi has been underwater this week. As I navigated a particularly treacherous section of a flooded road, I wished I had a boat or a ship :-). The city is rapidly growing to the heavens, but the supporting horizontal infrastructure is not developing similarly. This situation is not unique to Nairobi - it's happening in many cities in Africa and globally (have you seen the 'apocalyptic' flooding in Dubai?) Climate change is real. As the UNFCCC UN Executive Secretary aptly stated in a recent Chatham House speech, "a quantum leap in climate finance is needed". Yet climate change is just one of many developmental challenges to which we must direct significant financial resources. Where will all these significant financial resources come from? My colleagues Evans Osano, DBA, Michael Fuchs, Amos Mugi, FRM and I at FSD Africa have been working on a financial innovation in response to the recommendations of the Independent Review of Multilateral Development Banks' (MDBs) Capital Adequacy Frameworks. The proposed innovation, alongside other MDB reform initiatives, could unlock several hundred billion dollars in additional finance for the world's development priorities. We are proposing a local currency solution for MDB portfolio transfer - one that will facilitate the transfer of select MDB portfolios to domestic institutional investors, freeing up MDB capital for further on-lending while deepening domestic capital markets. This could potentially direct billions of African institutional capital to development priorities, such as the infrastructure needed for cities to be more resilient to climate change impacts. And many more social and economic priorities. FSD Africa seeks a dynamic Fund Manager to co-create and implement this innovative solution. The deadline for EOIs is 30 April 2024.

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#Ghana and #Tanzania have proactively dismantled tax barriers on #MobileMoney, incentivising its use through levy reductions. These policies have a positive effect on users’ access to financial services and the economic growth of the countries. Find out more in our latest State of the Industry Report on Mobile Money👉www.gsma.com/sotir #MobileMoney #Mobile #Finclusion #SOTIR2024

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#Ghana and #Tanzania have proactively dismantled tax barriers on #MobileMoney, incentivising its use through levy reductions. These policies have a positive effect on users’ access to financial services and the economic growth of the countries. Find out more in our latest State of the Industry Report on Mobile Money👉www.gsma.com/sotir #MobileMoney #Mobile #Finclusion #SOTIR2024

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#Ghana and #Tanzania have proactively dismantled tax barriers on #MobileMoney, incentivising its use through levy reductions. These policies have a positive effect on users’ access to financial services and the economic growth of the countries. Find out more in our latest State of the Industry Report on Mobile Money👉www.gsma.com/sotir #MobileMoney #Mobile #Finclusion #SOTIR2024

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