Integrating Africa into the flow of world capital Public Investors... · David Marsh Jean-Claude...

Inaugural African Public Investors Meeting

Integrating Africa into the flow of world capital

Innholders’ Hall 29-30 College St, London, EC4R 2RH

15-16 September 2015

1 Inaugural African Public Investors Meeting (APIM)

Contents

Welcome letter 2

Meeting background 3

Meeting outline 4

APIM meeting programme 6-7

List of participants 10-11

Speaker profiles 13-19

Forthcoming meetings 20

15-16 September 2015, London 2

Dear Participants,

We warmly welcome you to London and appreciate your participation in the inaugural Africa Public

Investors Meeting (APIM).

Quantum Global and OMFIF are pleased to be working together to hold this meeting to discuss the

main issues influencing the regional and global economy. Some of the important topics we intend to

cover in this gathering include the role of Global Public Investors in Africa, Africa’s natural resources,

Africa’s infrastructure financing gap, and structural change and improved governance.

We are pleased that such a diverse range of institutions are represented, from developed and

emerging economies, so that we can ensure a variety of views and perspectives.

We very much look forward to your contributions and encourage you to take an active part in the

sessions. The aim is to promote a true spirit of dialogue. We hope we can reach positive areas of

understanding as well as practical approaches for the future.

Please do not hesitate to ask us or any member of staff should you have any questions or inquiries.

We wish you a pleasant stay in London and thank you again for coming.

With best wishes for a fruitful gathering,

David Marsh Jean-Claude Bastos de Morais

Managing Director Founder

OMFIF Quantum Global


MEETING BACKGROUND

African economies are showing growth well above the world average, amid continued optimism over the continent’s macroeconomic development and prospects. A combination of youthful populations, economic liberalisation, advances in living standards, healthy growth prospects and plentiful resources presents an optimistic outlook. However, challenges remain, and continued growth benefits remain consigned to generating sufficient levels of capital and greater public investment.

Africa’s projected growth rate underlines the need for greater levels of investment. A recent poll of the OMFIF Advisory Board suggests, growth is forecast to slow to 4-5% in 2016-18, as indicated in the graph below.

MEETING OVERVIEW

The inaugural APIM is hosted by OMFIF in partnership with Quantum Global. Taking place on 15 September 2015 in London, the inaugural meeting will bring together public and private sector bodies from Africa and beyond to examine key issues in public investment.

Discussion will focus on such themes as:

The role of Global Public Investors in Africa

Harnessing Africa’s natural resources in the interests of wider prosperity

Bridging Africa’s infrastructure financing gap

Effective investment, structural change and improved governance

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2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018Source: African Economic Outlook, OMFIF Advisory Board

Real GDP growth rate, Africa 2006-18 (%)


Tuesday 15 September Inaugural African Public Investors Meeting 08:45-09:00 Registration and refreshments at Innholders’ Hall 09:00-09:10 Welcome and introduction 09:10-10:40 Session I: The role of Global Public Investors in Africa 10:40-11:00 Refreshments 11:00-12:30 Session II: Harnessing Africa’s natural resources in the interests of wider prosperity 12:30-14:00 Working lunch 14:00-15:30 Session III: Bridging Africa’s infrastructure financing gap 15:30-15:50 Refreshments 15:50-17:20 Session IV: The way forward: Effective investment, structural change and improved

governance 17:20-17:30 Closing remarks 18:00-20:00 Post-meeting dinner at the London Capital Club Wednesday 16 September Oval Observer Foundation: Financing infrastructure projects in Africa workshop 09:00-09:10 Welcome and introduction at 8 Clifford Street 09:10-10:30 Panel I: Enabling and accelerating BOOT (build, own, operate, transfer) model to create

a private sector infrastructure finance market 10:30-11:00 Refreshments 11:00-12:30 Panel II: Supporting growth of decentralised infrastructure 12:30-12:45 Closing remarks 12:45-13:30 Working lunch

GENERAL ARRANGEMENTS

The meeting will take place under the Chatham House rule. Information disclosed during the meeting may be reported by those present, but the source of that information may not be explicitly or implicitly identified. It is anticipated that around 40 participants will attend, drawn from across the globe. Public sector institutions – including central banks, sovereign wealth funds, regulatory agencies, and international financial institutions – will outweigh private sector groups by roughly 5 to 1 with no media representatives present. The aim of OMFIF meetings is to achieve interactive dialogue, with as many of the participants as possible contributing to the discussion. A summary of the meeting will be distributed afterwards to all participants. In collaboration with the Oval Observer Foundation, OMFIF are pleased to extend an invitation for participants to join the Financial Instruments for Private Sector Engagement in African Infrastructure Workshop on 16 September at 8 Clifford Street, London, W12 2LQ.

MEETING OUTLINE


APIM meeting programme


APIM MEETING PROGRAMME: TUESDAY 15 SEPTEMBER

08:45 – 09:00 REGISTRATION AND REFRESHMENTS AT INNHOLDERS’ HALL

09:00 – 09:10 WELCOME AND INTRODUCTION

09:10 – 10:40 SESSION I: THE ROLE OF GLOBAL PUBLIC INVESTORS IN AFRICA

- GPIs as sources of liquidity in capital markets - African GPIs in the international financial system and their role as impact investors - Matching capital supply to institutional development – role of Public-Private Partnerships - The importance of skilled personel for overcoming technical and institutional impediments

Session moderator David Marsh, Managing Director, OMFIF

Panel discussion Daniel Hanna, Managing Director, Standard Chartered Bank Louis Kasekende, Deputy Governor, Bank of Uganda Kingsley Chiedu Moghalu, former Deputy Governor, Central Bank of Nigeria Mthuli Ncube, Senior Advisor to the President, Eastern and Southern African Trade and Development Bank

10:40 – 11:00 REFRESHMENTS

11:00 – 12:30 SESSION II: HARNESSING AFRICA’S NATURAL RESOURCES IN THE INTERESTS OF WIDER PROSPERITY

- Reviewing Africa’s energy resources and Africa’s energy potential - The importance of mining, minerals and agriculture for international investors - Transformational projects with the prospect for bringing about sustainable structural change - Role of public investors from within and outside Africa in energy project financing

Session moderator Philip Middleton, Deputy Chairman, Advisory Board, OMFIF

Panel discussion Lord (Meghnad) Desai, Chairman, Advisory Board, OMFIF Bernard Sheahan, Director of Infrastructure and Natural Resources, International Finance Corporation Pio Wennubst, Assistant Director General, Swiss Agency for Development and Cooperation Stephen West, Managing Director, UK Climate Investments

12:30 – 14:00 WORKING LUNCH AT INNHOLDERS’ HALL, OLD COURTROOM


14:00 – 15:30 SESSION III: BRIDGING AFRICA’S INFRASTRUCTURE FINANCING GAP

- Framework for expanding intra-African infrastructure development - Overcoming the practical barriers to investing in infrastructure - Impact of market liberalisation and improved regulation in different infrastructure sectors - Best practice for infrastructure development and financing

Session moderator Sanmit Ahuja, Vice Chairman, Oval Observer Foundation

Panel discussion Minesh Mashru, Senior Vice President, Private Equity and Infrastructure, Quantum Global Alternative Investments Lamia Merzouki, Chief Strategy and Development Officer, Casablanca Finance City Authority Frank Sebbowa, Executive Director, Uganda Investment Authority Jean-Philippe Stijns, Senior Economist, European Investment Bank


16:00 – 17:30 SESSION IV: THE WAY FORWARD: EFFECTIVE INVESTMENT, STRUCTURAL CHANGE AND IMPROVED GOVERNANCE

- The role of multilateral development agencies - Best practice for investment management and governance - Mobilising political support for necessary reforms - Investing in health, education and social security to sustain development

- Minimising corruption through robust safeguards and legislation

Session moderator Kingsley Chiedu Moghalu, former Deputy Governor, Central Bank of Nigeria

Panel discussion Chinelo Anohu-Amazu, Director General, National Pension Commission, Nigeria Ben Omar Ndiaye, Director General, West African Monetary Agency

Nicholas Niggli, Head, Economic, Trade and Finance Section, Embassy of Switzerland; Former WTO GPA Chairman

Samuel Sejjaaka, Chairman, Uganda Development Bank

17:30 – 17:40 CLOSING REMARKS

17:40 END OF MEETING

18:00 – 20:00 POST-MEETING DINNER AT THE LONDON CAPITAL CLUB, ORIENTAL ROOM

In collaboration with the Oval Observer Foundation, OMFIF are pleased to extend an invitation for participants to join the Financial Instruments for Private Sector Engagement in African Infrastructure Workshop on 16 September at 8 Clifford Street,

London, W12 2LQ. See programme on opposite page.


FINANCING INFRASTRUCTURE PROJECTS IN AFRICA WORKSHOP PROGRAMME: WEDNESDAY 16 SEPTEMBER

Africa is on a growth path but inadequate funding structures continue to constrain the arrival of essential projects on both on the large and decentralised social empowerment scales. Most infrastructure projects in Africa depend on funding from governments, the development agencies and international financial institutions. The Oval Observer Foundation in collaboration with OMFIF offers a half-day forum to brainstorm two models for attracting higher private participation and a wider range of financial instruments to the table.

The workshop will allow discussion on various ideas and participants are encouraged to present their views on models presented.

Workshop moderator David Marsh, Managing Director, OMFIF

Workshop discussants Brian Sturgess, Editor in Chief, World Economics Stephen Harris, International Trade Advisor, Infrastructure, UK Trade & Investment; PPP Director, Altra Capital Clive Sheldon, Managing Partner, Argentis Capital Sanmit Ahuja, Vice Chairman, Oval Observer Foundation Phillip Rogers, Partner, Brown Rudnick

09:00 – 09:10 WELCOME ADDRESS

Sanmit Ahuja, Vice Chairman, Oval Observer Foundation

09:10 – 10:30 PANEL I: ENABLING AND ACCELERATING BOOT MODEL TO CREATE A PRIVATE SECTOR INFRASTRUCTURE FINANCE MARKET

- How is an infrastructure financing market any different from normal infrastructure project finance? - What role can and should a government play in development of such a market? - What are the different stakeholders in such a market? - What are the critical success factors for enabling such a market?

Case studies - Water Quality Trading Market – an instrument to developing water treatment assets - Energy Trading – a key enabler to driving energy infrastructure finance


11:00 – 12:30 PANEL II: SUPPORTING GROWTH OF DECENTRALISED INFRASTRUCTURE

- What is a decentralised infrastructure-financing model? - How is it different from large scale infrastructure financing? - How are the structures fundamentally different? - What role can a government play in creating a market for decentralised infrastructure - What are the different stakeholders in such a market? - What are the critical success factors for enabling such a market?

Case studies - Off-grid Solar market – a framework to accelerate energy deployment - Drinking Water Kiosks – pay per use financing model

12:30 – 12:45 CLOSING REMARKS

12:45 – 13:30 WORKING LUNCH


List of participants


Olufolake Abdulrazaq Minister and Deputy Head, Industry Trade and Investment Nigeria High Commission United Kingdom

Louis Kasekende Deputy Governor Bank of Uganda Uganda

Sanmit Ahuja Vice Chairman Oval Observer Foundation United Kingdom

Pooma Kimis Member of the Board; Director, Markets and Institutions OMFIF United Kingdom

Chinelo Anohu-Amazu Director General National Pension Commission Nigeria

Peter Longworth Policy and Government Advisor Oval Observer Foundation United Kingdom

Lars Bane Managing Member; Senior Investment Professional Farallon Capital United Kingdom

Lu Leilei Deputy Representative People's Bank of China United Kingdom

Frank Behiblo Head, Coroprate Development Quantum Global Corporate Services Switzerland

David Marsh Managing Director OMFIF United Kingdom

Benedetto De Biasio Associate Kuwait Investment Authority United Kingdom

Minesh Mashru Senior Vice President, Private Equity and Infrastructure Quantum Global Alternative Investments Switzerland

Lord (Meghnad) Desai Chairman, Advisory Board OMFIF United Kingdom

Eugene Maslov Manging Director Fenton Capital United Kingdom

Fatou Diop Treasury Client Solutions, Europe, Middle East and Africa International Finance Corporation South Africa

Lamia Merzouki Chief Strategy and Development Officer Casablanca Finance City Authority Morocco

Tunde Doherty Deputy Chairman; Head, FDI and Economy Work Group All Progressives Congress UK United Kingdom

Philip Middleton Deputy Chairman OMFIF Advisory Board United Kingdom

Richard Dowden Executive Director Royal African Society United Kingdom

Kingsley Chiedu Moghalu Former Deputy Governor Central Bank of Nigeria United States of America

Daniel Hanna Managing Director Standard Chartered Bank South Africa

Mark Morley Group Head, Marketing & Communication Quantum Global Investment Management Switzerland

Janet Johnstone Chief Administrative Officer, EMEA BNY Mellon United Kingdom

Fadzayi Musanhu Transaction Advisory Services EY United Kingdom


Willy Mutenza Representative Uganda Investment Authority United Kingdom

Bernard Sheahan Director, Infrastructure & Natural Resources International Finance Corporation United States of America

Helena Naganuma Vice President Quantum Global Corporate Services Switzerland

Gary Smith Head, Sovereign Wealth Funds and Official Institutions Barings Asset Management United Kingdom

Mthuli Ncube Senior Advisor to the President Eastern & Southern African Trade & Development Bank United Kingdom

Kristina Sowah Business Analyst State Street Global Advisors United Kingdom

Ben Omar Ndiaye Director General

Jean-Philippe Stijns Senior Economist European Investment Bank United Kingdom

Manuel Tacanho Communications and Marketing Fundo Soberano de Angola Angola

Edward Tenywa Personal Assistant to Deputy Governor Kasekende Bank of Uganda Uganda

Pio Wennubst Assistant Director General; Head, Global Cooperation Department Swiss Agency for Development and Cooperation Switzerland

Stephen West Managing Director UK Climate Investments United Kingdom

Gulnara Yunusova Senior Financial Officer International Finance Corporation Russia

West African Monetary Agency Sierra Leone

Hugh Neil Managing Director Margin GroupUnited Kingdom

Nicholas Niggli Head, Economic, Trade and Finance Section; Former WTO GPA Chairman Embassy of Switzerland United Kingdom

Johnson Nyella Manager, Research Bank of Tanzania Tanzania

Heather Scott Policy Advisor, Africa Regional Department Department for International Development United Kingdom

Frank Sebbowa Executive Director Uganda Investment Authority Uganda

Samuel Sejjaaka Chairman Development Bank of Uganda Uganda


Speaker profiles


Sanmit Ahuja Vice Chairman Oval Observer Foundation United Kingdom

Sanmit Ahuja is one of the founding members of the Oval Observer Foundation. He specialises in development finance, impact investing, developing innovation clusters and PPP framework development. Ahuja has nearly 20 years experience working across the world in various sectors particularly in trade finance, infrastructure finance, technology and media sectors. He has an engineering degree in electronics from the University of Pune, India and an MBA from the London Business School.

Chinelo Anohu-Amazu Director General National Pension Commission Nigeria

Chinelo Anohu-Amazu, a lawyer, obtained an LLB degree from the University of Nigeria, Enugu Campus in 1996, a B.L from the Nigerian Law School in 1997 and an LLM in Computer and Communications Law from the London School of Economics in 2000. Anohu-Amazu also studied in many prestigious institutions such as Columbia University Graduate School in 2008, the J. F. Kennedy School of Government of Harvard University in 2007 and Wharton Business School, University of Pennsylvania in 2002. Anohu-Amazu was confirmed as the Director General of the Commission with effect from 1 October 2014. During her period of stewardship, she has recorded major achievements, some of which included the growth of registration of contributors from 5.39 million in December 2012 to 5.89 million as at October, 2013. Total pension assets under management also grew by N63 billion as at October, 2013. Anohu-Amazu was a Consultant to the Bioresources Development and Conservation Program, Maryland and also served as a Legal Advisor at AS Financial Services, UK. She is a member of the Chartered Institute of Arbitrators, London. Anohu-Amazu comes from Anambra State and represents the South East geopolitical zone.

Lord (Meghnad) Desai Chairman, Advisory Board OMFIF United Kingdom

Lord (Meghnad) Desai, is emeritus professor of economics at the London School of Economics and Political Science, which he joined in 1965, and established the Centre for the Study of Global Governance in 1992. Desai holds a BA and MA in economics from Bombay Mumbai University and obtained his PhD at the University of Pennsylvania. In 2008, he was awarded the Padma Bhushan Award, the third highest civilian award in the Republic of India. Desai has authored or edited 20 books, has written over 200 articles for academic journals, and contributes to newspapers across the United Kingdom and India. His research interests include economics, international political economy, economic history, South-Asian studies and globalisation.


Daniel Hanna Managing Director Standard Chartered Bank South Africa

Daniel Hanna is the Head of Public Sector and Development Organisations for Africa, Americas, Europe and the Middle East for Standard Chartered Bank. He has over 15 years of banking experience in emerging markets, in particular in Africa and the Middle East, and has provided advice to governments, state owned enterprises, institutions and companies on raising equity and debt, restructuring their business activities and investing in emerging markets. Hanna is the rating advisor to several African governments and earlier this year worked with the UK’s CDC for the creation of the $50m Post Ebola Reconstruction Facility for Sierra Leone. Hanna was previously the Co-Head of Wholesale Banking for South Africa and Southern Africa for Standard Chartered based in Johannesburg. He was also the lead author of the Qatar 2020 development report for the Emir of Qatar and a member of the UK China Emerging Leaders Roundtable. He has an MBA from the London Business School, a Certificate d’Etudes European from Science Po Strasbourg and a BA in economics and politics from Exeter University.

Louis Kasekende Deputy Governor Bank of Uganda Uganda

Louis Kasekende is Deputy Governor at the Bank of Uganda, reverted to the position in January 2010. From May 2006 to 2009, he served as Chief Economist of the African Development Bank (AfDB). Between 2002 and 2004, he served as Alternate Executive Director and later as Executive Director at the World Bank for Africa Group 1, including 22 countries mostly from Anglophone Sub-Saharan Africa. He is a member of the World Bank Knowledge Advisory Commission, the International Economics Association and the Financial Stability Board taskforce on Emerging Markets and Developing Economies. Kasekende is a Board Member of the African Export-Import Bank and a Director at Large of the Africa Economic Research Consortium (AERC). He was a member of the United Nations Group of Eminent Persons for the least developed countries. Kasekende holds a PhD in econometrics from the University of Manchester, and has authored several articles in academic journals and books.


David Marsh Managing Director OMFIF United Kingdom

David Marsh is Managing Director and Co-Founder of OMFIF. He is Senior Adviser to asset management company Soditic and Chairman of the Advisory Board of independent investment bank London & Oxford Capital Markets. Previously, he worked for City merchant bank Robert Fleming, corporate finance boutique Hawkpoint and German management consultancy Droege. Marsh is a Board Member of Henderson Eurotrust, the British Chamber of Commerce in Germany and the Institute for Corporate Cultural Affairs, Deputy Chairman of the German-British Forum, Advisory Board Member of Centre for European Reform, and visiting Professor at Sheffield University and King's College London. He was made Commander of the British Empire in 2000 and was awarded the German Order of Merit (Bundesverdienstkreuz) in 2003. He started his career at Reuters in 1973 having graduated with a BA in chemistry from The Queen's College, Oxford. Between 1978 and 1995 he worked for the Financial Times in France and Germany, latterly as European Editor in London. Marsh has written five books and is a frequent media commentator in Europe and the US.

Minesh Mashru Senior Vice President, Private Equity and Infrastructure Quantum Global Alternative Investments Switzerland

Minesh Mashru is a Senior Vice President at Quantum Global Alternative Investments AG. His role is to lead investments in infrastructure and other private equity opportunities, with a key focus on Sub-Saharan Africa. Focus sectors for investment include transport infrastructure, power and utilities, agriculture, industrial assets and mining opportunities. Prior to joining Quantum, he advised and financed numerous infrastructure transactions across EMEA at the Royal Bank of Scotland, having begun his career at UBS Investment Bank. Notable transactions include advising the Spanish government in 2011 on the first phase of the privatisation of AENA, the Spanish airports network.

Lamia Merzouki Chief Strategy and Development Officer Casablanca Finance City Authority Morroco

Lamia Merzouki is the Chief Strategy and Development Officer at Casablanca Finance City Authority, where she aims at positioning Casablanca as a regional business and financial hub dedicated to Africa. Merzouki began her professional career in France where she joined the consulting firm Arthur Andersen. In 2000, she returned to Morocco and joined AKWA Group, the largest private group in Morocco where she held the position of Director of Strategy for seven years. She also worked on the Green Morocco Plan within the Ministry of Agriculture and on the development of the Souss-Massa-Draa region.


Philip Middleton Deputy Chairman, Advisory Board OMFIF United Kingdom

Philip Middleton is a Director of Rifle House Capital and a Deputy Chairman of the OMFIF Advisory Board. In a 35 year career as a Partner with EY and KPMG amongst others he specialised in working globally with financial institutions on issues of corporate strategy, and with governments on financial sector reform. He most recently led EY’s global Central Banking team. He holds degrees in history and modern languages from Oxford University and an MBA from INSEAD.

Kingsley Chiedu Moghalu Former Deputy Governor Central Bank of Nigeria United States of America

Kingsley Chiedu Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, and led the implementation of far-reaching reforms to Nigeria’s banking system in the aftermath of the global financial crisis as Deputy Governor for Financial Stability. He is Professor of Practice in International Business and Public Policy at Tufts University’s Fletcher School of Law and Diplomacy, the Founder of Sogato Strategies, an emerging markets risk and strategy consulting firm, and a Partner in the US law firm Cooke Robotham. He is also a member of the Advisory Board of OMFIF. Moghalu is the author of four books including the acclaimed Emerging Africa: How the Global Economy’s ‘Last Frontier’ Can Prosper and Matter (Penguin Books, 2014) and a forthcoming book on global banking reform. He previously worked for the United Nations for 17 years, rising to the rank of Director.

Mthuli Ncube Senior Advisor to the President Eastern and Southern African Trade and Development Bank United Kingdom

Mthuli Ncube is a Senior Research Fellow and Professor of Public Policy at Blavatnik School of Government, Oxford Univeristy leading the multi-disciplinary RethinkHIV project on the economics of HIV, and sponsored by the Rush Foundation. He was Chief Economist and Vice President, African Development Bank Group (AfDB) and now leads the strategic thinking within the bank on development issues. He has led policy dialogue activities with governments in Africa at ministerial level. He has developed knowledge products in ‘Infrastructure Investments in Africa’ and developed an ‘Africa Infrastructure Development Index (AIDI)’, which tracks progress in development and access to infrastructure in all of Africa. He also developed the concept of ‘inclusive infrastructure’ and developed an ‘Inclusive growth Index’ for Africa. Ncube holds a PhD in economics (mathematical finance) from the University of Cambridge.


Ben Omar Ndiaye Director General West African Monetary Agency Sierra Leone

Ben Omar Ndiaye is a Certified Professor in Economics at the Cheikh Anta Diop University since 2007. He has an PhD in economic sciences and a Masters in applied macroeconomics money-finance-banking and in corporate management. Since June 2008 he is the Director General of the West African Monetary Agency (WAMA), in charge of the ECOWAS Monetary Cooperation Programme and former Country Director of the Masters Programmes in Economics, Inter-university Doctorate Programme, Senegal. From 2005 – 2008 he held the position as Acting Director of the Applied Economics Research Centre, of the Cheikh Anta Diop University. Several publications include a doctoral thesis on ‘The dynamics and optimality of regional integration’; inflation targeting; liquidity management; economic growth; exchange rate mechanism; regional economic and monetary integration; macroeconomic convergence; monetary policy; trade reforms; economic globalisation; multinational corporate entities; productivity; food security; poverty. Ndiaye is a member of several scientific committees and research networks and lecturer in many national and international training centres.

Nicholas Niggli Head, Economic, Finance, Science and Innovation Section Embassy of Switzerland United Kingdom

Nicholas Niggli heads the Economic, Finance, Science and Innovation Section at the Embassy of Switzerland and serves as Chairman of the Association of Economic Representatives in London (AERL), a diplomatic network for economic and commercial attachés. In parallel, Niggli lectures on policy making, global governance, leadership and negotiation dynamics at the Graduate Institute of International & Development Studies, Geneva. Niggli was part of Switzerland’s Trade Diplomacy team at the WTO, and was Vice Chairman of the task force for the organisation of the 2009 and 2011 WTO Ministerial Conferences. From 2007 to 2012, he was Chairman of the WTO Government Procurement Agreement (GPA), leading and successfully concluding negotiations at ministerial level to improve internationally agreed disciplines for this key world economy sector in 2011. Niggli holds Masters degrees in economic history & international relations.

Frank Sebbowa Executive Director Uganda Investment Authority Uganda

Frank Sebbowa is Executive Director of Uganda Investment Authority and has a wealth of experience ranging from 10 years as Chief Executive Officer of the nation’s Electricity Regulatory Authority, as well as another 10 years managing a stock exchange listed manufacturing company: Uganda Clays. He is a seasoned manager with an MBA in addition to his engineering training and background. Sebbowa, a Mechanical Engineer, did his postgraduate studies at the University of Leeds.


Samuel Sejjaaka Chairman Development Bank of Uganda Uganda

Samuel Sejjaaka is a Professor of accounting and finance at Abacus Business School, Uganda. He holds a PhD in accounting and finance from Makerere University, an MSc in financial studies from the University of Strathclyde, BCommerce and a PgDip in computer science from Makerere University. He is the Chairman of Uganda Development Bank, Uganda’s only Development Bank and a partner at Sejjaaka, Kaawaase and Co., Certified Public Accountants. He is also the Deputy Chairman of the Board of Stanbic Bank, Uganda’s largest commercial bank. His working experience includes over 20 years as a financial consultant. Sejjaaka worked with the Ministry of Finance, Planning and Economic Development as a financial and fiscal systems consultant in the areas of public expenditure, budget management and fiscal policy planning. He has worked as a financial consultant and auditor for public sector and private sector organisations for over 10 years and has extensive experience in areas of financial accounting, taxation, strategic planning, restructuring, and quality assurance and advisory services.

Bernard Sheahan Director, Infrastructure and Natural Resources International Finance Corporation United States of America

Bernard Sheahan is Director for Infrastructure and Natural Resources at the International Finance Corporation, part of the World Bank Group. He is responsible for IFC’s investments in power, transport, utilities, and extractive industries. He joined IFC in 1986, and has previously served as Director of IFC’s Infrastructure Advisory department and IFC’s Director of Strategy. He holds a Bachelor’s degree from Dartmouth College and an MBA from Harvard University.

Jean-Philippe Stijns Senior Economist European Investment Bank United Kingdom

Jean-Philippe Stijns is Senior Economist in the Country and Financial Sector Division of the European Investment Bank (EIB). He is responsible for economic and development finance issues in African countries and coordinates sovereign credit risk ratings. Before joining the EIB, he held positions at the IMF’s Africa Department, with the OECD’s Development Centre, as Investment Strategist for ING, and as Assistant Professor of Macroeconomics and International Economics at Northeastern University. He is the lead author of publications such as ‘Public Resource Mobilisation and Aid’ (African Economic Outlook, 2010), ‘Africa’s Emerging Partnerships’ (African Economic Outlook, 2011), ‘Can we still Achieve the Millennium Development Goals?’ (OECD, 2012). He received a BA and MA (summa cum laude) in economics from the University of Liège where he began his career as research fellow at the Centre for the Study of Population and Public Economics, and a PhD in economics from the University of California, Berkeley.


Pio Wennubst Assistant Director General; Head, Global Cooperation Department Swiss Agency for Development and Cooperation Switzerland

Pio Wennubst, an agro-economist specialised in systemic approaches by training, has long experience in development diplomacy based on extensive field work in areas such as rural development, microfinance and public health. After a period as managing director of a Swiss chemical company, he moved to the public sector as an academic researcher. He joined the Swiss Agency for Development and Cooperation (SDC) in 1995 and was initially posted to Bolivia and subsequently to Madagascar where he was tasked with reorganising Swiss development cooperation activities. After a period as an economist at the SDC’s head office in Bern, in 2004 Wennubst was appointed SDC country director in Dar es Salaam, Tanzania. From 2008 to 2011, he was the deputy permanent representative of the Swiss mission to the Rome-based United Nations agencies. He later joined the Swiss permanent mission to the United Nations in New York as head of the economic and social development team. He currently manages the Global Cooperation Department as assistant director general of the SDC.

Stephen West Managing Director UK Climate Investments United Kingdom

An accountant by profession, Stephen West has worked in principal investing in emerging markets for over 20 years initially with CDC Group and subsequently as a Founding Partner of Actis Capital. Following Actis, West built up a business as a senior advisor to a number of clients that focus on the power sector and emerging markets. In his current position, he is responsible for leading UK Climate Investments (UKCI), a joint venture between the UK Government’s Department of Energy and Climate Change (DECC) and the UK Green Investment Bank. UKCI is mandated to deploy £200m of DECC’s allocation from the UK Government’s Investment Climate Fund, as equity investments into renewable energy and energy efficiency projects in emerging markets.


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Global Emerging markets: outlook for growth

Sixth Annual OMFIF Breakfast Discussion at the IMF/WBG Annual Meeting

10 October, Lima

The 2015 OMFIF Breakfast Discussion focuses on how emerging market economies, principally the emerging and growth leading economies, are driving world growth. The meeting gathers 100 senior representatives from local and international financial institutions.

For more information, please contact: [email protected]

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Europe Boosting growth: monetary policy, financial intermediation, investment

Sixth Main Meeting in Europe co-hosted with the Czech National Bank.

19 October, Prague

OMFIF, in association with the Czech National Bank, is holding its Sixth Main Meeting in Europe. The gathering will feature a confidential discussion between invited public and private sector officials.


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Americas The role of the US in the world economy

Second Main Meeting in America co-hosted with the Federal Reserve Bank of Atlanta

12-13 November, Atlanta

OMFIF, in association with the Federal Reserve Bank of Atlanta, is holding its Second Main Meeting in North America. The gathering features a confidential discussion between invited public and private sector officials.


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Asia Asset and risk management for Global Public Investors: trends and expectations for 2016 and beyond

Second OMFIF official-sector asset management seminar in Asia

1 December, Singapore

A gathering of central bank reserve managers from across South East Asia to discuss best practice, share experiences and consider future challenges.


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Asia Asia-Pacific and the global financial system: outlook for 2016 and beyond

Fifth Asian Central Bankers Watchers Group (ACBWG) meeting co-hosted with the Reserve Bank of Australia

4 December, Sydney

The Fifth ACBWG brings together public and private sector organisations to examine issues in economic and monetary policy related to the Asia-Pacific region.


FORTHCOMING MEETINGS

Official Monetary and Financial Institutions Forum 30 Crown Place, London, EC2A 4EB, United Kingdom T: +44 (0)20 3008 5262 | F: +44 (0)20 3008 8426 | omfif.org

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