The Bankers’ Association for Finance and Trade’s (BAFT) second annual Africa Bank-to-Bank Forum had been concluded on June 30-July 1, in Nairobi. African banking executives had gathered to discuss about banking, trade, and finance developments in the region, including the economic crisis and its impact on Africa’s banks, cross-border initiatives for trade finance, mobile banking, and industry best practices.
Industry experts present in the forum addressed on global liquidity concerns, trade contraction, restraints on credit, payment system issues, anti-money laundering efforts, and regulatory oversight.
Jeremy Wilson, VC of Barclays Commercial and Chairman of the Global Councils of BAFT, said: “The Africa Council is proving to be an appropriate vehicle and will also help the banking sector in the dissemination of best practice and knowledge and understanding of banking issues from commerce to compliance. The banking sector in Africa has a growing track record in innovation and is working from a position of relative strength.
Donna Alexander, President of BAFT, said: “This second BAFT Africa Bank-to-Bank Forum offered an excellent opportunity to identify pitfalls in the banking business and share best practices for overcoming them. BAFT is focusing on advancing cross-border industry solutions for African banks and looks forward to working with local banking associations and regional bodies in their harmonization efforts.”
The next BAFT Bank-to-Bank Forum, led by the BAFT Africa Council, will be held in the first quarter of 2010. Trade finance, cross-border initiatives, anti-money laundering, and the innovations of mobile banking and payments will be covered, along with other priorities for the banking industry in Africa.
