The African Development Bank (AfDB) and United Cities and Local Governments of Africa (UCLG Africa) (www.UCLGA.org) in collaboration with GiZ and the Sahel and West Africa Club of the OECD organized from 19 to 24 September 2022 a training session on: Access to capital markets for African cities and sub-national governments.
The training was attended by CFOs from some forty African cities and subnational governments hailing from 26 countries: Senegal, Liberia, Gabon, Congo, Cameroon, Malawi, Kenya, Mauritius, Zambia, Mozambique, Eswatini, Zimbabwe, Botswana, Central African Republic, Madagascar, Rwanda, Nigeria, Morocco, Mauritania, Benin, Burkina Faso, Mali, Niger, Tunisia, Nigeria, Ivory Coast.
The opening ceremony was marked by several speeches delivered by: Mr. Stefan Atchia, Manager of the Urban Division of the African Development Bank; Mr. Ripert Boussoukpé, Secretary General of the Regional Council for Public Savings and Financial Markets (CREPMF); Mrs. Harlette Badou N’GUESSAN KOUAMÉ, Mayor of Arrah and Secretary General of the Union of Cities and Municipalities of the Ivory Coast (UVICOCI).
The opening speech was given by the Hon. Mr. Eugène Aka Aouélé, President of the Economic, Social, Environmental and Cultural Council of Côte d’Ivoire, President of the Assembly of Regions and Districts of Côte d’Ivoire and President of the South- Comoé region.
What is the Capital Market?
What are the institutions of the capital market ecosystem?
What are the key concepts of the financial analysis of Cities and Subnational Governments?
What are the balance sheets and financial ratios to consider?
How do you develop credible financial forecasts?
What criteria are considered by rating agencies?
How does a stock market and a municipal bond issue work?
What is the content of the support provided by brokerage and management companies?
What is securitization and how can it be used?
How to access “green finance”?
These are some of the questions discussed during the group work and the case studies, which allowed the participants to obtain a more detailed understanding of the capital markets ecosystem and to appropriate a wide range of tools to access it.
Participants also had the opportunity to learn about the African Development Bank Group Financing Instruments and the African Development Bank Group Subnational Lending Guidelines.
The training program, which began in Abidjan, will continue in Johannesburg.
Visits to the Regional Council for Public Savings and Financial Markets (CREPMF) were also organized, where the participants were received by the President, Mr. Badanam Patoki, and the Secretary General, Mr. Ripert Boussoukpé; and to the Abidjan Regional Stock Exchange (BRVM) where the Director General, Mr. Kossi Amenouvé, welcomed the participants.
These visits allowed the participants to touch the reality of the functioning of the institutions that operate in the capital markets.
The training session offered the opportunity to renew the governing bodies of the Network of Directors and Heads of Financial Services of African Local Authorities (Africa FINET).
Thus, they were elected – President of the Network: Mr. Jeremiah Sibande, from Lilongwe (Malawi).
– First Vice-Chairman: Mr. Jean-Bosco Massoma Ekwalla from Douala (Cameroon) – Second Vice-Chairman: Ms. Sylvie Some Ouoba from Ouagadougou (Burkina Faso) – Third Vice-Chairman: Mr. Kamal Jelouane from Agadir (Morocco) – Fourth Vice-Chairman: Mr Jean Rubangutsangabo from Kigali (Rwanda).
In addition, two honorary members were appointed: Mr. Reshma Bukhory Bahadoor from Flacq (Mauritius) and Ms. Olarike Olayinka from Ekiti State (Nigeria) The training session was closed on Saturday, September 24 at 11:00 am by Mr. Yapi Fidel, General Director of Decentralization and Local Development (DGDDL) of the Ministry of the Interior and Security.