All timings are in SAST
Building the Africa We Want
Africa belongs to all its people; therefore, the future of the continent is our collective future. Making this work is our collective responsibility. We must draw upon our collective successes and our failures, to do more to drive the vision of an African Renaissance – a prosperous Africa, an Africa of good governance, shared values, and ethics.
There is enormous potential and talent throughout the continent. There is tremendous dynamism, creativity, energy, and innovation, unlike anywhere else, all of which can drive transformational change, as well as economic, political, and social growth. We must embrace this opportunity, it is our future, as a community we must rise bold and determined from local beginnings to global futures.
Wale Ayantoye, Global Head of Product Compliance and Risk Management, Flutterwave, Nigeria
Bradley Wattrus, Co-Founder and Chief Financial Officer (CFO), Yoco, South Africa
Simon Hurry, Chief Inspiration Officer, PlayNicely, South Africa
Tech: Is there a Risk of Falling Behind?
Given the rapid development and implementation of new technologies across Africa, companies and regulators are fighting to keep pace with emerging risks associated with the use (and abuse) of these innovations.
In the face of an increasingly complex technological landscape, some in compliance may feel apprehensive about the deployment of new technological solutions or products. But at the same time, as technologies such as AI, mobile payments, digital banking and Big Data increasingly touch all aspects of our personal and professional lives, the risk of falling behind is almost greater than the risk of rushing in unprepared.
This session considers recent technological developments, notably in South Africa, Nigeria, Kenya, Mauritius and Egypt, and more recently in Ghana, Ethiopia and Rwanda; the practical compliance implications of implementing new technologies, platforms and products; and the challenges of managing the associated risk(s).
Mo Bammeke, Chief Compliance Officer, Flutterwave, Nigeria
Kagiso Mothibi, Head of Fintech Unit, Financial Sector Conduct Authority (FSCA), South Africa
Gur Geva, Founder and CEO, iiDENTIFii, South Africa
Riyaadh Hanslo, Head of Risk and Regulation, Yoco, South Africa
Henri Nyondo, Head of Risk and Compliance, Vodacom Tanzania Plc, Tanzania
Where Crypto and VASP Compliance gets interesting
The crypto, or virtual asset, environment in Africa remains largely unregulated, although Virtual Asset Service Providers (VASPs) from across the continent continue to work proactively to be compliant with FATF guidance, in the knowledge that Africa will soon be part of the virtual asset regulatory map.
In South Africa, for example, draft policy on the regulation of virtual assets calls for the development of a regulatory framework. The policy is based on international requirements and includes the implementation of the FATF Travel Rule, which requires VASPs to collect and share personal data during transactions. Such regulatory initiatives will be instrumental in ensuring the integrity of the financial system and demonstrating the commitment of South Africa, and other African states, to combatting financial crime.
In this session, the panel will discuss the challenges and opportunities faced by VASPs in implementing a risk management framework, why this shouldn’t be an afterthought, and why the FATF Travel Rule will remain a top priority.
Dev Odedra, Founder, Minerva Stratagem Consulting/The Laundry, UK
Eva Crouwel, Head of Financial Crime and Investigations, Luno, South Africa
Nerushka Bowan, Director and Head of Innovation, Norton Rose Fulbright, South Africa
David Carlisle, Director of Policy and Regulatory Affairs, Elliptic, UK
Eric Annan, Founder, Digitalkudi and Ayacash, Ghana
Free Trade Zones, Illicit Finance and Financial Crime Risk
The African Continental Free Trade Area (AfCFTA) is the world’s largest free trade area by number of countries, covering an estimated market potential of 1.2 billion people and an aggregate gross domestic product (GDP) of approximately $2.5 trillion.
But while AfCFTA is seen as a means of promoting economic growth and investment between African states, it also has a darker side. Like the Free Trade Zones in Morocco, Gambia, Djibouti and Nigeria, it carries the potential exposures to illicit trade and financial crime, including but not limited to the transportation of illicit, counterfeit and contraband goods, money laundering and terrorist financing. Sanctions and tax evasion risks are also cause for concern.
This panel session will discuss what a free trade zone is, how and why they are being used, and the importance of assessing risk at a zonal level.
Alexandria Reid, Research Fellow in National Securities, Royal United Services Institute (RUSI), UK
Sofia El Mansouri, Founder, The Compliance Lady, Morocco
Ehi Eric Esoimeme, Managing Partner, E-Four and AAF, Nigeria
Jonathan Siklos, Regional Director, Diligencia, UAE
Moving Towards a Meaningful Common Position on Asset Recovery
Every year, approximately US$88.6 billion – equivalent to 3.7% of Africa’s GDP – leaves Africa as illicit capital flight; a strong indicator that criminals and corrupt officials alike are hiding their illicit financial gains overseas. African countries continue to face challenges in recovering these stolen assets from their regional and international counterparts and only a small proportion of such assets are ever returned. Reassuringly, however, more and more countries across the continent are stepping up their recovery efforts, following the example set by Nigeria.
One notable initiative is the proposed Common African Position on Asset Recovery (CAPAR). CAPAR embodies collective efforts and strategies to recover and return African assets. Could it be the answer to a much-improved asset recovery framework that recognises not just an African problem, but a wider international problem? Only time will tell.
This session will address the bigger picture of asset recovery, unpacking the current trends and challenges on the continent. Panellists will discuss what more can be done to yield improved results, and the potential costs and benefits of CAPAR will be explored.
JP Willemse, Senior Financial Investigations Specialist, Basel Institute on Governance, Malawi
Phillip Kagucia, Assistant Director and Head of Communications, Ethics and Anti-Corruption Commission, Kenya
Willie Hofmeyr, Retired Head of Asset Forfeiture Unit, National Prosecuting Authority, South Africa
Jean Phillipo, Chief State Advocate, Ministry of Justice & Constitutional Affairs, Malawi
Aidan Larkin, CEO & Co-Founder, Asset Reality, UK
Freedom is an Attitude
En route home to South Africa in November 2011, Stephen McGown was abducted by Al Qaeda and held hostage in Mali for almost 6 years. Uncertain as to whether he would ever be released, Stephen made a decision to not let his situation get the better of him. He decided to rather hold onto hope and take control of his attitude. In August 2017 he was finally released.
In this session Stephen shares a message of making the most of all situations whether they are good or bad. He talks about making important decisions, about the importance of acceptance and communication, and he shares a concept that freedom is an attitude.
Stephen McGowan, International Motivational Speaker and Best-Selling Author, South Africa