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FOUNDER Afif Ben Yedder Directeur de la publication ( GROUP PUBLISHER Omar Ben Yedder ( EDITOR Anver Versi ART DIRECTOR Jason Venkatasamy EDITORIAL CONSULTANT Christian Udechukwu ASSISTANT EDITOR Alexa Dalby EDITORIAL ASSISTANT Carole Lambert CORRESPONDENT-AT-LARGE Stephen Williams GENERAL MANAGER Leila Ben Hassen ( VP DEVELOPMENT Saliba Manneh ( ADVERTISING SPECIAL PROJECT MANAGER Darren Moore ADVERTISING SALES DIRECTORS Medrine Chitty, Elisée Marie, Nick Rosefield SENIOR SALES EXECUTIVE Nadia Osho-Williams DISTRIBUTION PRODUCTION MANAGER Richard Briggs PRINTERS Headley Brothers Ltd, The Invicta Press, Queens Road, Ashford, Kent, TN24 8HH SUBSCRIPTIONS Abacus e-Media Chancery Exchange, 10 Furnival Street London, EC4A 1YH Telephone: +44 20 8950 9117 Fax: +44 20 8421 8155 www.africanbusinessmagazine. com/main-articles/subs For subscriptions, see page 34. All pictures AFP unless indicated. Registered with the British Library. ISSN 1757-1413 ©2013 IC Publications Ltd N° DE COMMISSION PARITAIRE 0115 T 90333 Dépôt légal Juillet 2014



Sinews of trade and bad boys coming good 06 AFRICAN BANKER’S WORLD

Round-up of the last quarter in Africa’s banking industry 12 NEW APPOINTMENTS

Who has moved where 12 COVER STORY

FINANCING AFRICA’S TRADE 14 The African experience 19 The pros and cons of African operations 20 IN CONVERSATION

Hakan John Wilson, Head of Banking, IFC 24 Eleni Gabri-Madhin, eleni 28 VIEWPOINT Currency futures will hedge FX risks 30 IN CONVERSATION Anabela Chambuca Pinho, CEO of

Mozambique’s Stock Exchange


MasterCard’s masterstroke 36 PROFILE Heshan de Silva, venture capitalist 38 EVENT

African Banker Awards 2014 44 FROM THE REGIONS

Faster, cheaper cross-border transations for EAC 48 EVENT 4th African Debt Capital

Markets Summit COUNTRY OUTLOOK 50 Ghana: Competition brings out the best 52 Nigeria: Businesses shrug off forex decline 54 Kenya: Equity gambit rattles both telcos and banks 58 GADGETS, GIZMOS & CARS

Toys for the boys and girls