- The Government of Kenya is currently in the process of reviewing comprehensive proposals on the restructuring of DFIs
The Association of African Development Finance Institutions (AADFI) officially opened its 2013 Annual Forum for CEOs, in African Development Banking and Finance Institutions, at the Serena Beach Hotel & Spa, Mombasa, Kenya, on Thursday, November 14th, 2013. The two-day forum ended today Friday, November 15th, 2013. The Forum was organized in association with the African Development Bank (AfDB) as co-initiator of the DFIs Prudential Standards, Guidelines and Rating System (PSGRS) Project. It is a bilingual program in English and French on the theme:
“Strengthening African DFIs with Appropriate Standards and Guidelines: 3rd Peer Review & Rating of AADFI Member-Institutions”
The Forum aimed at examining member-institutions’ Prudential Standard Guidelines and Rating System (PSGRS) Summary Ratings Score Sheets and Self-Assessment Results and enable participants to address any institutional weaknesses identified from the completed assessment forms and find ways and means for implementing proposed reforms in their respective DFIs.
Furthermore, it enabled participants to build and strengthen the application of the PSGRS, evolve strategy to sustain Stakeholders’ commitments on the PSGRS Mechanism, evaluate current procedure for conducting the Peer Review with a view to recommending areas of adjustments and improvements and review the effectiveness of implementation of the PSGRS in member-institutions and share success stories.
The closing ceremony was officiated by Honourable Adan Mohamed, Cabinet Secretary, Ministry of Industrialization and Enterprise Development. In his closing remarks, Hon. Mohamed pointed out that the forum had provided an opportunity for the CEOs to share knowledge and compare experiences towards strengthening African Development Finance Institutions (DFIs) to play their rightful role in facilitating the socio-economic development of the continent in this twenty first century.
“The fundamental role played by African DFIs in the continent’s social and economic development cannot be over emphasized. I appreciate and agree with the view point that adherence to Prudential Standards, Guidelines and Rating System (PSGRS) is instrumental in strengthening African DFIs and that this 3rd peer review exercise has moved us forward towards strengthening our DFIs so as to facilitate the socio-economic development of the continent,” he said.
The African Development Bank has committed to assisting qualifying DFIs with Technical Assistance guided by the DFIs level of compliance with the PSGRS. This according to the CS is laudable and it therefore behoves each individual institution to assess its performance as provided by the PSGRS mechanism and submit the results to AfDB for consideration of eligibility to technical assistance.
“In recognition of the crucial role of DFI’s in the national economic agenda, the Government of Kenya is currently in the process of reviewing comprehensive proposals on the restructuring of DFI’s. The purpose of these reforms will be to empower the DFI’s through provision of more autonomy, professionalization of their management, enhancement of funding and alignment with the key economic development imperatives, among other,” He noted
In conclusion, Hon Mohamed said that African DFIs must be focused on their respective missions and have a clear vision of the future. They must have at their helm leaders who are themselves visionary and exemplary.
“The DFIs must also be quick in responding to market changes. The strength, creativity and flexibility of our DFIs are vital to the development of our nations so as to create wealth and jobs for our citizens and especially due to the fact that most of our populations are youthful, educated, strong and active.
If the DFIs fulfil their mandates the African continent is sure to create wealth, generate employment and alleviate poverty. Therefore it is very important for all our DFIs to share information and best practices as a priority to enhancing the role of national development,”
During the closing Ceremony, Mr. Paul Yuma Morisho, Peer Review Consultant also announced the results of the third Peer Review as measured by the AADFI’s Prudential, Standard Guidelines and Rating System (PSGRS).
The top rated institutions ranked as follows in %;
1 African Export and Import Bank- 94%
2 East African Development Bank- 93%
3 Credit Agricole du Maroc- 93%
4 Odu’a Investment Company, Ltd.- 92%
5 Banque Nationale pour le Developpement Economique -91%
6 Eximguaranty Co (GH) Limited -91%
7 Banques Rwandaise de Developpement- 89%
8 Swazi Bank- 89%
9 Industrial Development Corporation- 88%
10 National Invest Bank
11 Swaziland Development Finance Corporation 87%
12 Development Bank of Namibia- 86%
13 Citizen Entrepreneurial Development Agency-84%
14 PTA Bank- 84%
15 Nigerian Export-Import Bank 83%
15 ECOWAS Bank (EBID) -82%
16 Botswana Development Corporation -81%
16 Agricultural Development Bank- 80%
17 Banque de l’Habitat de cote d’Ivoire – 80%
18 Banque de Developpement des Etats de l’Afrique Centrale- 80%
No comments:
Post a Comment