FT Africa Summit
5 - 6 October 2014 | Claridge's, London  
6:30 pmWelcome Reception

8:00 am - 9:00 amRegistration

9:00 am - 9:30 amOpening Keynote Address
Donald Kaberuka, President, African Development Bank
9:30 am - 10:30 amPanel: The Scramble for Africa

Over the last five years Africa has become a hot destination for investors around the world. From an initial emphasis on oil and gas, they have diversified into consumer industries and financial services. This year the African Development Bank estimates that Africa will receive a record of $84bn in foreign inflows, surpassing the record set in 2012. Portfolio flows, which include equity and bond investments, will also rise to $24.1bn. As recently as 2001-3, Africa was registering negative portfolio flows as investors withdrew money.

Not only have foreign investors turned to Africa – African investors are also pouring record amounts into the continent, often beyond their national boundaries. The trend has given rise to what some describe as “Africa Direct Investment” as opposed to “Foreign Direct Investment”. But foreign investors are playing a large role, from state-owned funds such as CIC of China and Temasek of Singapore to private equity groups, including KKR and The Carlyle Group, to institutional investors such as Aberdeen and Investec.

Tony Elumelu, Chairman, Heirs Holdings Limited
Joseph Makoju, Honorary Advisor to the President, Chief Executive, Dangote Group
Strive Masiyiwa, Chairman and Founder, Econet Wireless
Bernard Mensah, Managing Director, Global Head of Emerging Markets Trading, Bank of America Merrill Lynch
Cristina Stenbeck, Executive Chairman, Investment AB Kinnevik; Chairman, Millicom International Cellular
Tidjane Thiam, CEO, Prudential

Moderator: Javier Blas, Africa Editor, Financial Times

10:30 am - 11:00 amBreak

11:00 am - 12:00 pmPanel: The Elephant in the Room - Risk, Security & Politics

Africa has enjoyed a period of political and security stability over the last 10-20 years – in part due to the end of the Cold War, but also due to the return of democracy in key countries in the region, notably Nigeria and South Africa. By and large, the military nowadays remains in the barracks, leaving politicians to govern and fight elections. Term limits have seen some political transitions and corruption has declined.

And yet, violence is making a return, with conflicts in countries including Mali, South Sudan, Central African Republic and Somalia, and Islamist terrorist groups causing havoc in Kenya, Nigeria, Cameroon and Chad. Government term limits are being tested, with some heads of state seeking to re-write their constitutions to remain in power beyond the original two terms. Weak infrastructure, notably in health, is jeopardising the fight against disease: from Ebola to malaria. African economies – and foreign investors – are no longer enjoying the “peace dividend” of the 2000s.
Security and politics is the elephant in the room – no one talks about it, but everyone knows that it could derail the positive narrative of Africa rising. Should African businesspeople and foreign investors be alarmed or should they put the problems into perspective?  After all, India, China, Colombia, Mexico and Thailand have enjoyed an economic transformation in spite of security problems at home.

Nick Allan, CEO, Europe & Africa, Control Risks
Arnold Ekpe, Honorary President, Business Council for Africa
Katrina Manson, East Africa Bureau Chief, Financial Times

Additional speaker to be announced

Moderator: Alec Russell, News Editor, Financial Times

12:00 pm - 1:00 pmThe African CEO Debate

The Africa-born chief executives of some of the world’s largest companies discuss the outlook for the region – and how the region sees the world. These CEOs represent some of the hottest sectors in Africa: natural resources, banking and financial services, telecoms and consumer goods. Combined, their companies had revenues of $300bn – that is equal to the combined GDP of Angola, Ethiopia, Kenya, Ghana, Tanzania, Uganda and Zambia.

R S Dabengwa, Group President & CEO, MTN Group
Ivan Glasenberg, CEO, Glencore
Vimal Shah, CEO, Bidco
Wale Tinubu, CEO, Oando
Herbert Wigwe, CEO, Access Bank

Lionel Barber, Editor, Financial Times

1:00 pm - 2:30 pmLunch

2:30 pm - 3:15 pmView from the Top with Lionel Barber, FT Editor

Ngozi Okonjo-Iweala, Co-ordinating Minister for the Economy and Minister of Finance, Federal Ministry of Finance, Nigeria

3:15 pm - 4:15 pmPanel: Focus Nigeria

Nigeria overtook South Africa earlier this year to become Africa’s largest economy and 26th largest in the world after the government released updated figures that nearly doubled estimates for gross domestic product. Already the most populous nation in Africa, and home to one of the most vibrant megalopolis – Lagos, Nigeria is today a focus of foreign investment into natural resources, consumers goods and financial services, attracting companies such as Nestlé, Heineken, SABMiller, Unilever, Procter & Gamble, Nissan and General Electric.
And yet, the country is also a source of instability, from the jihadi group Boko Haram that is terrorising the north-east to endemic oil theft in the Niger Delta. The two sides – the vibrant economy and the violence-hit country – present a conundrum to investors, who need to decide what is the future of a 175m people nation with a GDP already surpassing the $500bn mark. A key question for many investors is the politics of the country, as the political discourse becomes increasingly polarised along religious and ethnic lines in the run-up to 2015 elections, when the ruling People’s Democratic party potentially faces the most organised challenge since the military handed power back to civilians in 1999.

Austin Avuru, CEO, Seplat
Rilwan N Belo-Osagie, Managing Director, FSDH Merchant Bank
Yvonne Ike, Head of Coverage, Sub-Saharan Africa (EX-RSA), Bank of America Merrill Lynch
Phillip Ihenacho, CEO, Seven Energy
Henry Obi, COO, Helios Investment Partners
Arunma Oteh, Director General, Securities and Exchange Commission, Nigeria; Chair of the Africa, Middle East Regional Committee,

Vera Kwakofi, Current Affairs Editor, BBC Global News Division

4:15 pm - 5:15 pmPanel: Africa Banking & Finance
Africa is home to the world's largest number of unbanked people – precise numbers are hard to quantify, but according to some estimates nearly half of the 1bn population does not own a bank account, and as little as 5-10% use a credit or debit card. The opportunity is similar, if not bigger, in insurance and asset management, including pension funds. Equally in money transfers, both regional and international, as the diaspora plays a key role in the continent's development. The combination of a large share of the population unbanked and a relatively strong growth offers a rare opportunity to local and foreign groups to profit. But challenges abound, from weak regulation to the lack of basic instruments such as identity cards or credit rating bureaus.

And yet, global and local groups are convinced that Africa could offer the next big source of growth, after Latin America and Asia Pacific. Different institutions are trying different models, from the pan-African strategy, to a hub strategy around the biggest economies. Investment banks also smell the opportunities, as more companies engage in merger and acquisitions and the local equity and bond markets boom.

Tutu Agyare, Managing Partner, Nubuke Investments LLP
Ismail Douiri, Co-CEO, Attijariwafa Bank
Abdirashid Duale, CEO, Dahabshiil Group
Albert Essien, Group Chief Executive Officer, Ecobank Group
Julian Roberts, Group Chief Executive, Old Mutual plc

Moderator: William Wallis, African Affairs Writer, Financial Times
5:15 pmClose of Summit
Break - opportunity to have business meetings arranged
6:45 pm - 7:45 pmSummit Reception
7:45 pmSummit Gala Dinner and Keynote Address
Guest speaker: Ashish Thakkar, Founder, Atlas Mara