The Joint Africa Institute (JAI) recently in Tunis organized a High-Level Seminar on African Finance for the 21st Century. The seminar focused on financial sector development in sub-Sahara Africa and its contribution to economic development on the continent.
The session focused on three themes: the development of financial institutions and markets; efficiency and soundness in the financial sector, and practical policymaking in weak institutional environments.
Presentations featured speakers from Africa and other parts of the world, including experts from official agencies in Africa (Finance Ministries, Central Banks,) international financial institutions, the private sector and academia.
Participants were given ample time to discuss issues, raise questions and share their experiences. The objectives of the seminar were to provide a platform for discussion of the importance of finance for growth; and broaden understanding of the main impediments to the emergence of a vibrant financial system in most African countries. It also aimed at deepening understanding of the role of the central bank and other government agencies in promoting the development of dynamic money and capital markets; and discussing best practices in banking supervision and regulation and their application to African countries.