MICROFINANCE EVENT: Investing in Responsible Finance and Innovation for Africa’s Digital Economies; October 2, 2018; Dar es Salaam, Tanzania

Summary of Event: The Ninth Annual Responsible Finance Forum brings together investors, policymakers, practitioners, and innovators to discuss opportunities for growth as well as risks of abuse relating to digital financial services in Africa. Participants will learn about technology solutions and business models for accelerating investment, inclusive growth and “responsible” innovation.

Background on Organizers:

The Responsible Finance Forum (RFF) is a platform that brings together representatives of the private sector, regulators, policymakers, and consumers to discuss the advancement of new solutions for financial inclusion and digital outreach. RFF, which has been organizing annual events since 2010, was co-founded by the World Bank Group’s International Finance Corporation (IFC) and CGAP (the Consultative Group to Assist the Poor), an NGO housed in the World Bank Group. Its 23 partners meet via ten regional forums. RFF recently launched the Guidelines for Investing in Responsible Digital Financial Services, which have 40 signatories, including development finance institutions, investment vehicles, fund managers, foundations and family offices.

The African Development Bank (AfDB) Group, which was founded in 1964, provides loans and grants to governments and private companies in Africa via three entities: AfDB, the African Development Fund, and the Nigerian Trust Fund. Owned and funded by its member governments, the bank has the mandate to reduce poverty and promote “sustainable development.” As of 2017, AfDB’s membership comprises 54 African nations and 26 other countries. As of the same year, AfDB has authorized capital of XDR 67 billion (USD 94 billion)

IFC offers loans, equity investments, advisory services, and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2017, it has 184 member countries and total assets of USD 92.3 billion.

The World Bank Group is a multilateral organization whose goal is “to end extreme poverty and promote shared prosperity in a sustainable way.” As of 2018, it has 189 member nations. The group encompasses (1) the International Bank for Reconstruction and Development and the International Development Association, which make up the World Bank; (2) IFC; (3) the Multilateral Investment Guarantee Agency; and (4) the International Centre for Settlement of Investment Disputes. During 2017, the World Bank Group disbursed a total of USD 44 billion.

Cost: Although there is no fee to attend, registration is required.

Event Website: https://responsiblefinanceforum.org/event/responsible-finance-forum-ix-africas-evolving-digital-economies/

For additional information, you may contact Ms Kira Krown at +255 764 701 234, kkrown[at]ifc.org or responsiblefin[at]ifc.org.

By Anuhya Tadepalli, Research Associate

Sources and Additional Resources

Responsible Finance Forum background
https://responsiblefinanceforum.org/our-story/

Guidelines for Investing in Responsible Digital Financial Services
https://responsiblefinanceforum.org/investor-guidelines/

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