13th - 14th July 2012 African Women Financing the Future Lagos, Nigeria Introduction

The 2012 African Women’s Economic Summit will take place in Lagos, Nigeria at the Federal Palace Hotel in Victoria Island from July 13th to 14th July 2012.

Summit Registrations Contents

About New Faces, New Voices 2 Wheatbaker Hotel Federal Palace Hotel Client: Mrs Graça Machel 5

From 12th July 6-8 Ahmadu Bello Way About the Summit 6 4 Onitolo (Lawrence) Road Victoria Island Ikoyi,Lagos. P.O. Box 1000 The Agenda Tel: +234 (0)1 2773560-2 Marina Lagos, Nigeria Tel: +234 (0)1 9067118 Tel: +234 (1) 462 8300 Day 1 9 Fax: +234 (0)1 2773563 Tel: +234 (1) 277 9000 Fax: +234 (1) 462 8310 Day 2 10

Day 3 12

About the Chapters 16

African Women’s Economic Summit 1 About New Faces, New Voices About New Faces, New Voices

Invest In Women, Invest In Africa

Women are the next emerging market

Study after study shows that Over the next decade, the According to Boston Consulting empowering women and girls economic power that women will Group, women now control $12 accelerates economic growth. control globally is set to exceed the trillion of the overall $18.4 trillion combined GDP of China and India. in global consumer spending. New Faces New Voices was launched to help African organisations to take advantage of this untapped potential. As the business and finance pillar of the Graça Machel Trust (Multiplying Faces, Amplifying Voices), we have the research and influence needed to drive change. $12 Our objectives are clear: TRILLION To improve women’s access to finance

To build the capacity and skills of women entrepreneurs and business leaders

To increase the number, visibility and influence of women in leadership positions in the financial sector. Women are Africa’s untapped potential We seek a fundamental shift in the business and financial landscape across Africa. With the right approach, we believe that this aim is as achievable as it is ambitious. Of the $62.5 billion in new private Investing in women represents Women in Africa are responsible equity invested in Africa in 2009, a vast opportunity for African for 60 - 80% of food production We are truly pan-African less than 8% was invested in business. There is a in Africa. enterprises that are either owned Our head office is in South Africa and we have chapters in the or controlled by women. following countries: Cameroon, Côte D’Ivoire, Democratic Republic of Congo, Egypt, Ethiopia, Kenya, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda and Zambia. 8% $20 80% billion www.nfnv.org funding gap for small and medium They receive less then sized enterprises (SME’s) in 1% of the total credit $62.5 Sub-Saharan Africa. 1% given for agriculture

(Fukuda-Parr, 2009)

2 African Women Financing the Future African Women’s Economic Summit 3 Advertisement Mrs Graça Machel

About Our Founder and Patron

A social and political activist over many decades, Mrs Graça Machel is an international advocate for women’s and children’s rights.

As a founding member of the “The empowerment of women is African Women’s Foresight not only a developmental issue, it Network, she established is a very much an economic issue. Multiplying Faces Amplifying Voices, which is committed to the Those institutions that recognise empowerment of African women the changes that are happening across sectors such as finance, globally AND take steps to make agriculture, media and science. certain that they are participating in the next emerging market, will New Faces New Voices is the more fully reap the economic first pillar of Multiplying Faces benefits of their investment.‘’ Amplifying Voices to be established and it builds on Mrs Machel’s already substantial legacy. Mrs Graça Machel

4 African Women Financing the Future African Women’s Economic Summit 5 About the Summit About the Summit

African Women: Financing The Future

The purpose was to explore how women can have a significant This summit builds financial institutions could better developmental impact. The Some statistics about women in Nigeria: About the pledges:

on the success of the serve the needs of women as challenge for African governments, The pledges are an integral part 2010 event consumers, business leaders policymakers, and large companies Of the 40 ministers and one of both how we work and how we and employees. in the financial and other sectors, cleared ministerial nominee, ensure that the Summit achieves is to accelerate the growth of the 13/40 13 are women. The number of tangible, measurable results. Under the theme of “Investing female economy by recognising female appointees in the cabinet The first African Women’s Differently in Women”, the women as an important market ministers represents about 31% of the By sponsoring the Summit you will Economic Summit was held Summit considered the business segment and creating an enabling 42-member cabinet. also be sponsoring the monitoring in March 2010 in Nairobi, case for investing in women, the environment that fosters the rise of and tracking of the pledges and Kenya. Organised under the legal, regulatory and cultural the female economy. their implementation by different joint leadership of New Faces obstacles that prevent women stakeholders. The inclusion of from becoming stronger economic Building on the success of the first New Voices and the African real measurement outcomes agents, and how to increase the Summit, the second Summit plans Development Bank, this initiative is, we believe, what makes our number of women in leadership to highlight the contribution of brought together a high-level 31% programme different to other positions within the financial sector. African women to their economies audience of 150 African and global programmes for women in Africa. decision-makers in the financial and how countries can harness the Female representation sector, including policy-makers, Women represent a growing economic potential of women in regulators, commercial banks, and market segment in African more innovative ways. Nigeria, the chosen prominent business leaders. economies and investing in location The appointment of Dr Ngozi (Communication Technology), Ms Okonjo-Iweala as Finance Ama Pepple (Lands and Housing), Lagos, Nigeria has been chosen Minister was lauded in Africa Mrs Sarah Reng Ochekpe (Water as the location for the Summit Resources), Hajiya Zainab Maina and across the globe. because of the magnitude and (Women Affairs and Social potential of the Nigerian economy, Development), Hajiya Zainab 2012 Summit 1 To demonstrate the magnitude of the women’s market segment Other female members of the which is poised to become the Ibrahim Kuchi (Minister of State, objectives and how financial institutions can capitalise on this opportunity. cabinet are Mrs Diezani Alison- largest economy in Africa by 2025 Niger Delta Affairs), Prof. Viola Madueke (Petroleum Resources), in both size and spending power. To highlight financial innovations that increase women’s access to Onwuliri (Minister of State Foreign 2 Prof Ruqayyatu Rufai (Education), finance and identify ways to scale up these innovations Affairs), Erelu Olusola Obada Mrs Stella Oduah-Ogiemwonyi Recent reforms in the financial The 2012 Summit has (Minister of State, Defence) and To identify strategies for increasing the quality and number of (Aviation), Mrs Hadiza Ibrahim sector have created more space for five main objectives. Ms Olajumoke Akinjide (Minister of 3 potential deals from women entrepreneurs Mailafa (Environment), Mrs women and women entrepreneurs, State for FCT). Omobola Johnson Olubusola putting Nigeria at the forefront of To support women’s enterprise development through training and 4 empowering women. capacity-building programmes

5 To report on the pledges made in 2010 and elicit new pledges from Yet, despite its size and influence, 85% financial institutions, governments and other important Nigeria lags behind in levels of stakeholders financial inclusion: 85% of adult females are unbanked.

6 African Women Financing the Future African Women’s Economic Summit 7 Advertisement The Agenda

Building Today, A Better Africa Tomorrow

African Women: Financing The Future

New Faces New Voices and the African Development Bank present the 2nd African Women’s Economic Summit, 12-14 July, Lagos, Nigeria

THURSDAY, July 12 Day 1

16:00 - 19:00 Registration

19:00 - 20:30 Evening Cocktail Reception for Summit Delegates: Wheatbaker Hotel

8 African Women Financing the Future The Agenda The Agenda

Building Today, A Better Africa Tomorrow Building Today, A Better Africa Tomorrow

Day 2: Continued Friday, July 13 Day 2 14:30 - 15:30 Increasing Women’s Access to Finance: Challenges and Opportunities Summit Opening Day Dr Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria HE Charles Konan Banny, former Governor, Central Bank of West African States Registration at Federal Palace Hotel 07:30 - 08:30 Professor Njuguna Ndung’u, Governor, Central Bank of Kenya

Delegates seated 08:45 Moderator: Gabriela Braun, Director, GIZ Programme, Making Finance Work for Africa 09:00 - 10:30 Welcome Remarks: Mrs Graça Machel, Founder, New Faces New Voices The Governor of the Central Bank of Nigeria will give a brief overview of Dr Donald Kaberuka, President, African Development Bank various programs initiated by the Central Bank to increase women’s access Keynote speaker: Dr Ngozi Okonjo-Iweala, Minister of Finance, Federal to finance and promote women’s leadership in the financial sector, both Republic of Nigeria within the Central Bank and in the Nigerian banking environment. This will be followed by a panel discussion with other Central Bank Governors on advancing African women’s financial inclusion. 10:30 - 11:30 Program Highlights from NFNV and National Chapters Ms. Nomsa Daniels, Executive Director, New Faces New Voices 15:30 - 15:45 Coffee Break Since 2010, the Pan-African expansion of New Faces New Voices has proceeded at a rapid pace with 15 national chapters established in Cameroon, Côte D’Ivoire, Democratic Republic of the Congo, Egypt, 15:45 - 16:45 CEO Roundtable and Drivers of Change Ethiopia, Kenya, Mozambique, Niger, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda and Zambia. This session will give an overview of NFNV’s CEOs from commercial banks that target the women’s market segment will achievements since it was founded and highlight some of the chapter talk about their strategies in 3 areas: initiatives that are underway. a) bridging the funding gap for women-owned small and medium-sized enterprises, b) innovative approaches in the area of SME lending, and 11:30 - 11:45 Coffee Break c) fast-tracking women’s leadership in the financial sector.

Mr Aigboje Aig Ikhuemede, CEO Access Bank, Nigeria 11:45 - 13:00 From Nairobi to Lagos: Progress on Pledges Ms Nomkhita Nqweni, Chief Executive, ABSA Wealth, South Africa Mrs Mizinga Melu, Managing Director, Standard Chartered Bank, Zambia This session will examine some of the concrete pledges that were made by Mr Jean Kacou Diagou, CEO, Group NSIA, Côte D’Ivoire various institutions at the Nairobi Summit in March 2010. Presentations will highlight what progress has been made in meeting these pledges, with Moderator: Dr Nkosana Moyo, Founder and Executive Chairman, Mandela an emphasis on lessons learned, challenges and obstacles confronted, and Institute for Development Studies future plans.

Dr Nyambura Koigi , CEO, Kenya Post Savings Bank, Kenya 16:45 - 17:00 Closing Remarks Ms Audrey Mothupi, Director in Inclusive Banking, Standard Bank, South Africa Ms Nomkhita Nqweni, Chief Executive, ABSA Wealth, South Africa 19:00 - 22:00 Gala Dinner at the Federal Palace Hotel Ms Ginette Yoman, Division Manager, African Development Bank, Tunisia Ms Toyin Adeniji, Head, Women in Business Program, IFC, USA Speaker: Mr Hakeem Belo-Osagie, Chairman, Emerging Markets Telecommunications Services and former Chairman of United Bank of Africa, Plc, Nigeria 13:00 - 14:30 Lunch

10 African Women Financing the Future African Women’s Economic Summit 11 The Agenda The Agenda

Building Today, A Better Africa Tomorrow Building Today, A Better Africa Tomorrow

Day 3: Continued SATURDAY, July 14 Day 3 Moderator: Ms Nneka Okekearu, Pan African University, Nigeria Summit Closing Day

Session 2: The Challenge of Capital Deployment: Finding Solutions

09:00 - 10:30 Strengthening the Female Economy in Africa Over the past decade we have seen a number of large African funds established that target women in the SME sector. With the exception of Too often, the economic contribution African women make to their micro-finance institutions and selected commercial banks, the majority economies is undervalued and ignored because they tend to operate in of financing institution have struggled to deploy capital in the women the informal sector. Without better data collection and more gender- SME sector, as a result, there is considerable market “push-back” disaggregated data, efforts to track this contribution will not fully capture relating to allocating more funds for women’s enterprise development. the magnitude of the female economy. This session will demonstrate areas This session is about understanding the major reasons funders find it where women play a strong role such as agriculture and cross-border trade difficult to reach their targets and access bankable deals. using micro-economic indicators and data from recent studies. Panelists will look at obstacles that impede women’s economic development and what Ms Kiendal Burritt, Summit Development Group, South Africa can be done to accelerate the growth of the female economy. Ms Aude Apetey, Principal Investment Officer, African Development Bank, Nigeria Dr Jeni Klugman, Director for Gender, World Bank, USA Ms Patience Marime Ball, Global Financial Markets Department, IFC, USA Professor Olabisi Aina, Head, Gender Development Institute, Ms Yetunde Allen, Managing Partner, Lateral Links Limited, Nigeria Obafenui Awolowo University, Ile Ife, Nigeria Ms Aminata Niane, former CEO of APIX, Senegal Mr André Fotso, Président, Groupement Inter-Patronal du Cameroun, Session 3: Multiplying Faces and Amplifying the Voices of Women Cameroon Numerous studies show that companies with more diverse management teams perform better organizationally and in financial 10:30 - 11:00 Coffee & Tea Break terms but women still struggle to occupy leadership positions in the financial sector. Women’s representation at senior levels in financial institutions, on executive committees and on boards is well below 11:00 - 12:30 Working Sessions 1–3 desired levels in most African countries. This session will look at why gender diversity should be a business imperative, whether companies The participants will be divided into three groups for smaller in-depth are reaping the rewards for investing in gender diversity, whether discussions. The three sessions will run simultaneously and the moderator quotas work, and what breakthroughs are required to fundamentally will give a report-back to the plenary session. alter this landscape.

Session 1: Beyond Micro Mrs. Funke Osibodu, Group Managing Director, Union Bank Plc, Nigeria Mr. David Muturi, CEO, Kenya Institute of Management, Kenya Studies have shown that the majority of micro-enterprises that receive Ms. Lohini Moodley, McKinsey & Co., South Africa funding never graduate beyond the microfinance institutions that Ms. Joan Libby Hawk, Special Advisor, Women’s Empowerment support them. There are numerous theories relating to why micro Principles, USA businesses fail to move along this growth path. This session will explore how to graduate informal and formal micro-enterprises into sustainable Moderator: Folake Ani-Mumuney, Head, Marketing & Communication, businesses that can transition from micro to small and small to First Bank Nigeria medium, including the type of technical support, financial education and training they need.

Dr Jennifer Riria, Group Managing Director, Kenya Women’s Finance Trust 12:30 - 14:00 Lunch Mrs Oshuwa Gbadebo-Smith, Center for Policy Alternatives Ms Uche Nwuka, Head of Gender, Bank of Industry Dr Steve Olusegun Ogidan, CEO, Successory Ltd, Nigeria

12 African Women Financing the Future African Women’s Economic Summit 13 The Agenda The Agenda

Building Today, A Better Africa Tomorrow Building Today, A Better Africa Tomorrow

Day 3: Continued Day 3: Continued

14:00 - 15:30 Working Sessions 4–6 Ms Kate O’Keefe, Manager for Human Capital Consulting, Deloitte Touche Tohmatsu, Australia Session 4: Government-led Efforts to Promote Financial Inclusion for Women Ms Sylvia Mwansa, CEO, Change Agent Personal Development Consultants, Zambia In order to strengthen African financial systems, many governments have established financial sector development plans that aim to increase levels of financial inclusion for women, promote financial 15:30 - 17:00 Report Back from Session Moderators and the Way Forward literacy and encourage the growth of women-owned small and medium sized-enterprises. This session will look at different country examples The purpose of the working-group sessions is to arrive at concrete actions and their effectiveness as well as how to partner with the private sector and solutions that will bring women centre-stage in tackling the development to accelerate progress. challenges facing Africa by better harnessing their economic potential. Moderators will report-back on what some of these solutions are based Dr Tukiya Kankasa-Mabula, Deputy Governor Administration, Bank of Zambia on their discussions. The Summit will close by eliciting new pledges from Ms Monique Nsanzabagwana, Deputy Governor, National bank of Rwanda various stakeholders in the financial sector that will be monitored and Ms Ntombi Shaganse, Department of Trade and Industry, South Africa tracked by New Faces New Voices as part of their results-driven approach to Ms Modupe Lapido, CEO, EFInA, Nigeria accelerating women’s economic advancement.

Session 5: Financial Innovation: Leveraging on Cell Phone Banking 17:00 - 17:30 Closing Remarks Graça Machel and Donald Kaberuka To significantly scale up access to finance, providers and investors need to think outside the box to reduce costs, identify new markets, profitable opportunities, and deliver financial services that meet an unmet demand in a sustainable manner. This session will look at what role does mobile technology and access to information play in financial innovations that will lead to significant scale up in access to finance for women. Participants will exchange ideas on innovative models for reaching women entrepreneurs and the un-banked.

Mr Dare Okuodjou, CEO, MFS Africa, South Africa Mr Chad Larson, Financial Director, M-KOPA, Kenya Mr Henry Nwawuba, CEO, Fortis Mobile Money, Nigeria Mr Robert Grant, Group Head Telcom Media Technology, First City Monument Bank, Nigeria

Session 6: Changing Mindsets: Raising Awareness about Unconscious Bias

There are few organisations and institutions that target the need to help all stakeholders including women entrepreneurs, women managers and executives, their funders, sponsors, mentors, etc. to have a mindset shift about investing differently in Africa’s women. Creating greater gender diversity in the workplace and helping women to unlock their entrepreneurial spirit means recognizing and confronting unconscious bias and other cultural impediments that restrict women’s progress. Helping women to identify and change their own limiting beliefs and lack of confidence is also critical to catalyze change. This session is about equipping participants to identify and challenge prevailing mindsets that are holding back women from achieving their full potential.

14 African Women Financing the Future African Women’s Economic Summit 15 About the Chapters Advertisement

A Pan-African Association

Our head office is in South Africa and we have chapters in the following countries:

Cameroon Côte D’Ivoire Democratic Republic of the Congo Egypt Ethiopia Kenya Mozambique Niger Nigeria Rwanda Senegal South Africa Tanzania Uganda OUR CHAPTERS Zambia

Our Key Messages 1 Take advantage of the reorganisation and reform necessitated by the global financial crisis to include women in reshaping financial systems in Africa and the world 2 Reach women that are still excluded from micro-finance programmes but also focus on the “missing middle” where small and medium sized enterprises operate 3 Close the funding gap so that women can migrate out of micro- finance into more lucrative and sustainable businesses 4 Find better models of public and private partnerships to create effective policy and regulatory environments for deepening the financial inclusion of women 5 Communicate the need to fast-track women’s leadership for Africa’s growth, in particular, in the financial sector 6 Encourage the creation of financial innovations to increase the access of women to a variety of financial services 7 Promote financial literary and financial education programmes that provide technical and business development support to women

16 African Women Financing the Future African Women’s Economic Summit 17 Our Sponsors: