Maputo, Mozambique –
Building on the first edition’s discussions, the second edition of the Banking, Financial Services, and Insurance (BFSI) event continues to explore themes, such as digital transformation; financial inclusion, and the role of local content in economic growth, reflecting the ongoing commitment to a progressive financial landscape in Mozambique and Africa.
BFSI remains a comprehensive information project aimed at boosting the development of the financial sector in Mozambique, providing platforms for dialogue, innovation, and collaboration among key stakeholders.
The Banking, Financial Services, and Insurance (BFSI) Conference 2024 is set to be a transformative event for the financial sector in Mozambique, bringing together renowned experts and leading organisations in a forum dedicated to innovation, strategic collaboration, and sustainable development.
Noteworthy participants include the Commercial and Investment Bank (BCI), Mozambique Community Network (McNet), Financial Sector Deepening Mozambique (FSDMoç), and the African Export-Import Bank (Afreximbank), each bringing valuable insights and unique perspectives to the event.
BCI is recognized for its substantial impact on economic growth and fostering local entrepreneurship, with a particular focus on the development of local content. Known for providing credit solutions and financial services tailored to the needs of Mozambican companies, BCI will participate in the BFSI Conference 2024 as a panellist and partner. Its involvement reflects a steadfast dedication to financial inclusion, and supporting banking solutions that assist in the integration of local companies into the country’s economic fabric. This approach not only contributes to the diversification of the Mozambican economy but also demonstrates the bank’s commitment to initiatives that prioritise local content, thereby stimulating sustainable and inclusive development.
For McNet, it plays a critical role in Mozambique’s commerce sector, particularly in optimising international trade processes via the Single Electronic Window. This initiative is crucial for simplifying commercial procedures, enhancing efficiency, reducing cost, and increasing transparency – essential elements for economic development. At the Conference, McNet will delve into the significance of technological advancements in the commerce sector, emphasizing data security and digitalization. The company’s participation reflects its importance in using technology to enhance commercial services in Mozambique, aiming for a more robust and inclusive economic development.
Financial Sector Deepening Mozambique (FSDMoç) is committed to strengthening the financial system to promote financial inclusion. The organization will outline strategies to broaden access to financial services, targeting the unbanked and underbanked segments. A focus on data utilization and innovative practices is expected to foster a more inclusive and sustainable financial sector.
Afreximbank’s Africa Trade Gateway (ATG) is at the forefront of enhancing intra-African trade, perfectly aligning with the objectives of the African Continental Free Trade Area (AfCFTA). This digital ecosystem is designed to facilitate and boost trade transactions between African nations, standing as a cornerstone for regional economic development. Afreximbank’s ATG initiative is a testament to its dedication to reinforcing trade connections and fostering regional integration through innovative financial solutions tailored to Africa’s unique market needs.
This strategy not only seeks to eliminate trade barriers and encourage economic cooperation among member states but also underscores the bank’s ambition to be a driving force in Africa’s growth and economic cohesion. By using ATG as a strategic tool, Afreximbank facilitates a more dynamic and inclusive business environment, promoting investments and developing infrastructure crucial for intra-African trade expansion, vital to achieving Agenda 2063’s vision of continental integration and mutual prosperity.
The BFSI Conference 2024 will stand as a crucial forum for debate and collaboration among key players in the financial sector, aimed at tackling current challenges but also to identify future opportunities for Mozambique’s economic development. With the participation of these renowned panellists, the event is set to catalyse impactful actions and innovative strategies that will significantly contribute to advancing the financial sector nationally and regionally.
As we approach the BFSI 2024 Conference, scheduled for 19 June, it is paramount to recognize the symbolism of this event for the future of theBanking, Financial Services and Insurance
sector in Mozambique. This event is not only an opportunity to share knowledge and experiences, but also a call to action.
*About BFSI*
The maiden edition of the Maputo-based Conference on Banking, Financial Services, and Insurance (BFSI) was held on September 13th and 14th at the Joaquim Chissano International Conference Center in Maputo, Mozambique. Themed “Digital Transformation for an Inclusive, Sustainable Financial System, and BFSI Industry Development,” with a focus on highlighting emerging innovations and practices that promise to revolutionize the financial sector in Mozambique, the event saw the participation of a multiplicity of experts from the financial market; representatives from business organizations, and government officials.
BFSI aims to bring together key individuals, including experts, executives, and national and international government authorities who have a direct impact on the development of the BFSI sector. Its purpose was to reflect on contemporary issues and challenges related to digital transformation, with the objective of creating avenues for technically-supported and strategically-defined changes to drive progress and improvement in the national financial and technological sectors. Additionally, it aimed to promote financial inclusion and a competitive business environment.
The conference brought together 383 participants, including government representatives from lusophone Africa – specifically Mozambique and Cape Verde. Also in attendance were business leaders, and experts from the banking, financial services, telecommunications, Insurtechs, and insurance sectors from various countries. Furthermore, it enjoyed prominent attendance from academia and representatives of national and international organizations, further consolidating its importance in the African financial landscape as a must-attend annual event.
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