African Banker du 03-06-2019

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Date de parution 03 juin 2019

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2nd Quarter 20198 An IC PublicationIssue 4
IN CONVERSATION:CORONATION’s ABU JIMOH|BCT’s MAROUANE EL ABASSI PROFILE:DPO’s ERAN FEINSTEIN| AGF’S FELIX BIKPO; BOI’s OLUK AYODE PITAN COUNTRYFILES:SOUTH AFRICA – Paînul turnaround|UGANDA – BoU under îre over lîquîdatîons
EQUATORIAL GUINEA: READYCeFsarOAugRusto MDbaIAbVogo,EMiRnisteSr ofIFiFnaInceCATION
EUROZONE €8.00, UK £6.00, USA $9.95, CFA Zone CFA5.000, Egypt E£80, Ethiopia R200, Gambia Da400, Ghana GH¢40.00, Kenya KShs800, Liberia $8, Mauritius MR300, Morocco Dh60, Sierra Leone LE 70000, South Africa R50.00 (inc tax), Tunisia DT7, Uganda USh30,000, Zambia ZMW 100Other Southern African countries R43.90 (excl tax), Tanzania TShs20,000,
INTRODUCING
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FOUNDER AND EDITORINCHIEF Aî Ben Yedder Dîreceur de a pubîcaîon benyedder@îcpubîcaîons.com GROUP PUBLISHER Omar Ben Yedder o.benyedder@îcpubîcaîons.com EDITOR Anver Versî
VP DE VELOPMENT Saîba Manne s.manne@îcpubîcaîons.com ADVER TISING adverîsîng@îcpubîcaîons.com ADVER TISING SALE S DIREC TORS Medrîne Cîy, Bayîr Samba, Nîck Roseîed DIS TRIBUTION dîsrîbuîon@îcpubîcaîons.com PRODUC TION M ANAGER Sopîe Dîon PRINTERS Rouara Medîa Group Meenseseenweg   Roeseare SUB SCRIP TIONS ïC Pubîcaîons Webscrîbe Unî , Coege Busîness Park Coege Road Nor Ason Cînon, HP EZ UK Teepone: + ()   conac@webscrîbe.co.uk www.arîcanbusînessmagazîne.com/subscrîbe A pîcures AFP uness îndîcaed. Regîsered wî e Brîîs Lîbrary. ïSSN - © ïC Pubîcaîons Ld N° DE COMMïSSïON PARïTAïRE  T  Dépô éga Juîn 
Cover Story Equatorial Guinea - ready for diversication
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Editorial Equatorial Guinea under the spotlight
African Banker’s World Who’s going where in the African banking industry
News in Brief Banking sector news from around the continent
Cover Story:Equatorial Guinea Fînance Mînîster Cesar Augusto Mba Abogo We now have the foundation to begin diversification
Stock Market Rollercoaster ride for Jumia Egyptian government launches $6bn IPO programme Nairobi bourse incubating promising companies Ethiopia more than ready for stock market Light at the end of the tunnel Linking Africa’s big seven exchanges Tanzania gets gold exchange
In Conversation Felîx Bîkpo, CEO, African Guarantee Fund
Prole Olukayode Pîtan,MD, BOI
In Conversation Abu Jîmoh, CEO, Coronation Merchant Bank
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Prole Eran Feînsteîn, CEO, DPO
Investment WBAF sets up in Ghana
In Conversation Marouane El Abassî,Governor, Central Bank of Tunisia
Topic AfDB initiative to propel continental trade
EAIF – a masterclass in blended development finance
Essay The greening of African banking
Point of View East African banking – consolidation here to stay
Country Focus Uganda:BoU under the cosh over bank closures
South Africa:Turnaround will be painful and painstaking
A N V E R V E R S I ,ED ITO R
Equatorial Guinea in the spotlight
rîcan Banker’s Q2 îssues ave aways been more an usuay încîdeAd wî our annua Arîcan Banker îneresîng o pu ogeer. As îs îssue does, ey ave co-Awards wîc are ed în andem wî e Arîcan Deveopmen Bank’s AGM – a by-word over e years or peraps e arges gaerîng o Arîcan bankers, Inancîers, însurers, busînesspeope, academîcs and medîa. Peraps ï soud add a a good proporîon o e deegaes aendîng are no necessarîy Arîcan bu a are învoved în some way or e oer wî Arîca’s busîness and deveopmen space. hîs year e grea jamboree akes pace în Maabo, Equaorîa Guînea. Equaorîa Guînea îs e ony Spanîs-speakîng counry în Arîca and as suc, peraps ends o ge overooked în e grander sceme o îngs and rarey eaures în eîer e Angopone or Francopone Arîcan medîa. Wen î does appear on e orîzon, î îs usuay roug e eyes o oreîgn journaîss wose concern îs more abou e îneress o eîr own companîes în îs oî-rîc counry. ha îs a pîy as ere are many very îneresîng sorîes rom Equaorîa Guînea a e res o Arîca needs o know. he ADB meeîng as we as e presîge accorded o our awards wî be a wecome opporunîy or e counry o sare îs vîsîon and acîevemens wî e res o e conînen and e eavy medîa presence wî ensure e sorîes are carrîed ar and wîde.
ï îs wî îs în mînd a we are peased o eaure an înervîew wî Cesar Auguso Mba Abogo, Equaorîa Guînea’s Mînîser o Fînance, Economy and Pannîng as our Cover Sory. Mba Abogo aks candîdy abou ow e counry îs pusîng aead wî e second pase o îs Horîzon 2020 Deveopmen Pan and a despîe Inancîa reversas caused by e precîpîous drop în oî prîces a wîe ago, e counry’s panners ave no os sîg o or been dîsraced rom eîr arge o arac more oreîgn învesmen, wîe vîgorousy mobîîsîng domesîc resources. He says e oundaîons or a ransîîon o a more dîversîIed economy ave been aîd. here îs no doub ere wî be a good voume o dea-makîng a wî ake pace în Maabo în June.
Focus on achievements Takîng o dea-makîng and raîsîng Inance, our capîa markes exper, Tom Mînney, presens îs reguar anaysîs o e word o sares and socks, mergers and acquîsîîons. He eads of îs coumn wî e roer-coaser rîde o Jumîa’s sares în New York bu as peny more excîîng news o sare. Wî e ocus on îndîvîdua and organîsaîona acîevemens very muc exercîsîng our mînds în e run-up o e Arîcan Banker Awards, we ave devoed mos o e res o îs îssue o some înrîguîng înervîews în our ‘ïn Conversaîon’ sos. ïnervîewees încude Feîx Bîkpo, CEO,
Arîcan Guaranee Fund, Oukayode Pîan, e Managîng Dîrecor o Nîgerîa’s Bank o ïndusry, Abu Jîmo, CEO, Coronaîon Mercan Bank and Marouane E Abassî, Governor o e Cenra Bank o Tunîsîa, wo does no mînce îs words, descrîbîng e Hercuean efor needed o sabîîse e economy o îs Nor Arîcan counry. We aso run a ascînaîng proIe on Eran Feînseîn, wose cance vîsî o Kenya rom îs naîve ïsrae no ony canged îs îe bu aso e dîrecîon o e e-commerce paymen sysem. Over a reaîvey sor space o îme, îs company, DPO as become e arges paymen servîce provîder în Arîca and îs growîng apace.
Sting in the tail Oer eaures încude deaîs o e Word Busîness Ange ïnvesmen Forum’s aunc o an ambîîous Maser Pan or Arîcan Economîes în Gana; e ADB’s înîîaîve o as-rack ranspor and power înrasrucure în e run-up o e Arîcan Conînena Free Trade Area and ow e Emergîng Arîca ïnrasrucure Fund (EAïF) îs appyîng bended Inance o sove înrasrucure deveopmen needs. We round up îs îssue wî wo opîca counry-ocus repors. Our correspondens examîne e împîcaîons o e resus o e recen eecîons în Sou Arîca and wa îes în sore or e economy and aso repor on ow decîsîons by e Bank o Uganda o summarîy îquîdae severa oca banks ave n reurned wî a sîng în e aî.
62 N D B A N K E R  A F R I C A N Q U A R T E R 2 0 1 9
A F R I C A N B A N K ER ’ S W O R LD P EO P LE G O I N G P L A C ES
TRAVALY REPLACES ASHITEY ADJEI AT ECOBANK CESA
Ecobank Transnatîonal Inc. has announced the retîrement o Samuel Ashîtey Adjeî (rîght), MD o îts Ecobank Kenya ailîate and Regîonal Executîve or the Central, Eastern and Southern Arîca (CESA) regîon, ater 29 years o servîce to the lender. Cheîck Travaly (below), currently the Regîonal COO or CESA, has been appoînted to replace Adjeî în both roles, subject to regulatory approval. Adjeî, whose posîtîons încluded beîng on the Ecobank Group Management Commîttee, recently played a leadîng role în drîvîng Ecobank Group’s partnershîp agreement wîth the Internatîonal Federatîon o Red Cross and Red Crescent Socîetîes. Hîs prevîous posts at Ecobank have încluded MD o Ecobank Ghana, Deputy MD o Ecobank Ghana and Executîve Dîrector and Head o Corporate
Bankîng and Treasury. Ade Ayeyemî, Group CEO o Ecobank saîd: “Sam’s împactul perormance, dedîcatîon and commîtment have been apparent to all durîng hîs almost three decades wîth Ecobank. “He has been înstrumental în buîldîng Ecobank Ghana înto the most profitable ailîate în the Group and the leadîng bank în Ghana durîng hîs 10 years as îts Managîng Dîrector, and the financîal condîtîon o CESA has împroved markedly under hîs stewardshîp în recent years, wîth îts profit beore tax încreasîng by 79% to US$111 mîllîon în 2018. On behal the Ecobank Group and Board, I want to wholeheartedly thank hîm and wîsh hîm all the best în hîs retîrement.” Adjeî saîd: “It has been a real
honour to have played a role în the development and growth o Ecobank în îts journey to brîng economîc development and întegratîon to mîddle Arîca. I have long regarded Ecobank’s dîgîtal strategy as a masterstroke drîvîng transormatîonal change or mîllîons o Arîcans by seamlessly servîng them wîth înnovatîve and constantly evolvîng products and servîces.” Cheîck Travaly has 28 years’ proessîonal experîence, the last 14 o whîch have been spent as a Bankîng Executîve servîng sîx dîferent countrîes. He holds two Master’s degrees, one în Busîness Admînîstratîon rom the Unîversîty o South Carolîna and another în Economîcs rom the Unîversîty o Dakar în Sénégal. Travaly began hîs career în Guînea’s mînîng sector, beore makîng a permanent move înto the bankîng îndustry. One o hîs early roles was as a Local Corporate Manager or Cîtîbank Senegal, however he has been employed at Ecobank sînce 2001, when he became the Corporate Bank Head at Ecobank Senegal.
ONYEAGWU IS NEW ZENITH CEO
Zenî Bank Pc, one o e mos proIabe banks în Nîgerîa, as we as în Arîca as a woe, as announced Ebenezer Onyeagwu (beow) as îs new MD and CEO, subjec o e approva o e Cenra Bank o Nîgerîa (CBN). He wî ake over rom GMD/ CEO, Peer Amangbo. Beore îs appoînmen, Onyeagwu ad been e bank’s Depuy MD sînce Ocober 2016, and ad spen 17 years a Zenî. “he appoînmen îs consîsen wî e bank’s radîîon and successîon sraegy o groomîng eaders rom wîîn,” e bank saîd. Onyeagwu, wo as neary 30 years’ experîence în e Nîgerîan bankîng îndusry, began îs career a e deunc Fînancîa Mercan Bank în 1991 and aer
ed severa managemen posî-îons a e erswîe Cîîzens ïnernaîona Bank Lîmîed unî 2002, wen e joîned Zenî Bank. He began as a senîor manager în e ïnerna Conro and Audî Group o e bank, rîsîng swîty o become an assîsan genera manager, depuy genera manager, and aer, genera manager. Prîor o becomîng Depuy MD în 2016, e was named Execuîve Dîrecor în 2013 As Depuy MD, e ad oversîg o e bank’s Fînancîa Conro and Sraegîc Pannîng, Rîsk Managemen, Reaî Bank-îng, ïnsîuîona and Corporae Bankîng busîness poroîîos, as we as e ïT Group, Credî Admînîsraîon, Treasury and Foreîgn Excange dîvîsîons,
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among oer areas. Onyeagwu’s as a degree în accounîng rom Aucî Poy-ecnîc, wîc ed o îs beîng a quaîIed Carered Accounan, and a Feow o e ïnsîue o Carered Accounans în Nîge-rîa. He aso ods a posgraduae dîpoma în Fînancîa Sraegy and a cerîIcae în Macroeconomîcs rom e Unîversîy o Oxord. He as underaken exensîve execuîve eve busîness educaîon a Waron Busîness Scoo, Co-umbîa Busîness Scoo, Harvard Busîness Scoo (a în e US) and Lagos Busîness Scoo Peer Amangbo sands down ater a îgy successu Ive-year enure as GMD/CEO, wen e bank’s oa asses rose o neary N6rn în vaue, rom 3.2rn în mîd-2014.