WASHINGTON DC,16 April 2015,-/African
Media Agency (AMA)/- Finance Ministers from Cote d'Ivoire, Gabon and
Nigeria are taking part in a Capital Markets Summit on the sidelines of
the IMF/World Bank Spring meetings in Washington DC, USA. They join the
Ugandan Central Bank Governor, Prof. Emmanuel Tumusiime-Mutebile, as
well as investment bankers and lawyers to discuss the latest
developments in Africa's debt and capital markets. Emerging market
sovereign debt has attracted global interest over the past 5 years,
especially as yields in the West have been low, and right now investors
are paying governments to lend them money. Discussions at the meeting
will be centred around whether this debt accumulation is manageable and
what policy makers can do to accelerate reform in order to enable deeper
capital markets and more cross border capital flows.
The
meeting is organised by African Banker magazine, part of the IC
Publications group, which is one of Africa's leading media and
communications groups. It the first time that the Summit is taking place
in Washington DC. Historically it took place in June, following the
African Development Bank meetings.
Speaking ahead of the summit,
group publisher at IC Publications and Managing Director of IC Events,
the live events arm of the business, Omar Ben Yedder said that the focus
of ADCM5 will be on the emergence of world class financial hubs in
Africa. African capital markets, he said, have a clear and critical role
in increasingly driving investment, growth and economic
diversification. There needs to be an avenue for small and medium sized
businesses to raise capital and the capital markets should be there for
them, he added.
The summit is sponsored by Standard Bank.
Speaking ahead of the meeting, Megan McDonald, Head of Debt Primary
Markets at Standard Bank highlighted how the total volume of Eurobonds
Africa issuance in 2014 had exceeded that of 2013, stating that this now
stands at slightly over US$15billion dollars.
"In general" she
said, "I think you can say that the capital that has been raised by
Eurobond issuances has been well used in Africa.
One of the
benefits of any issuer accessing the Eurobond market is that it
increases the scrutiny and focus from a global investor audience in
terms of government procedures, reporting and information disclosure,
which imposes a discipline on the issuer to ensure that the funds are
used appropriately."
In addition to providing a deep analysis of
local currency markets, attendees will have an opportunity to hear the
views of investors, and speakers will be able to share and hear insights
and case-studies from African Markets.
As part of the Summit,
Standard Bank will also host a Gala Dinner where the guest speaker will
be the young African entrepreneur, Ashish Thakkar.
Distributed by African Media Agency (AMA) on behalf of IC Publications |
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About ADCM
For more information on The 5th Africa Debt and Capital Markets summit please visit http://ic-events.net
African Banker
African
Banker is a quarterly magazine dedicated to banking and finance in
Africa. It taps into the growing demand for information about Africa's
banking and financial world, a sector that is consolidating rapidly and
reshaping the economy of the continent.
IC Publications
IC
Publications is one of the leading sources of analysis and debate on
African political and economic issues. IC Publications delivers
unparalleled coverage and cutting-edge content on the latest
developments in Africa. Leading publications include African Business,
African Banker, New African and New African Woman.
IC Events
IC
Events has established itself as one of the leading organisers of
African business and economic events. IC events are recognised as some
of the premier fixtures on the international calendar, and provide an
excellent opportunity to network with the current decision makers and
leaders from around the world. |
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