Over the last decade and prior to the current global financial crisis, African Banks witnessed significant growth in their aggregate operations which strengthened their balance sheets and lending capacity. Growth was fueled by liquidity, financial reforms and economic growth in the continent, which spurred these banks to alter their business models by incorporating global, sophisticated banking services.

However, the recent global financial crisis has affected Africa in various dimensions and has created a considerable shock to the Continent's financial system, albeit at a lesser scale to financial systems in developed countries. Hence, the current global financial crisis threatens to derail the progress made by African Banks thus far.

This panel will examine how African Banks have responded and positioned themselves against the backdrop of this financial crisis. The Panel will also evaluate different growth opportunities and examine how African Banks can capitalize on those opportunities in order to continue on their growth trajectory and act as the pivot for Africa renaissance. Finally, current and future regulatory changesthat will encourage good governance and ensure financial stability within the Continent will also be discussed.

Duke Essiam, Senior Investment Officer, International Finance Corporation

Mr. Essiam has extensive experience in principal investments, investment banking and management consulting in North America, Europe and Africa. He is a Senior Investment Officer with the International Finance Corporation (IFC), where he focuses on investments in Sub-Sahara Africa. He has been instrumental in the development of financial infrastructure programs such as the establishment of the first private credit bureau in Nigeria and the rejuvenation of the non-sovereign bond market in Nigeria. Prior to IFC, he was a Senior Executive with the middle-market investment banking firm, IPA Advisory Group in Chicago and a Senior Associate with Salomon Smith Barney/Citigroup’s Investment Banking Division in New York. Mr. Essiam started his career in management consulting with the Boston Consulting Group and later worked with Booz-Allen & Hamilton and Dean & Company. Mr. Essiam holds a Bachelors Degree in Electrical Engineering from the University of Pennsylvania (Philadelphia) and an MBA from Columbia Business School (New York).

Kofi Adjepong-Boateng, Former Group Managing Director, First Africa Group (Acquired by Standard Chartered)

Kofi co-founded First Africa in 1996. Prior to this, he worked in the corporate finance and government advisory fields in Africa with SG Warburg & Co., Price Waterhouse and HSBC Equator. He recently sold First Africa’s corporate finance business to Standard Chartered Bank and stepped down as Chief Executive of the firm. He has advised on several of Africa’s largest corporate transactions including the sale by Anglo American of JCI (then the world’s sixth largest gold company); the merger of Ashanti Goldfields and AngloGold (to create Africa’s largest gold company); and the acquisition of Investcom LLC by MTN (to create Africa’s largest mobile phone company). He is a Fellow of the Royal Society for the encouragement of Arts, Manufactures & Commerce in the UK; a Member of the UK’s Royal Economic Society and a Senior Associate Member of St.Antony’s College, University of Oxford.

Chuka Mordi, Founding Partner & Director, CBO Capital Partners

Chuka Mordi began his professional career as an equity analyst at Hardman & Co., focusing on UK small cap stocks, and later at SBC Warburg, InterSec Research Corporation, and Société Général Asset Management. Prior to CBO Capital Partners, he was Head of Infrastructure Financing at First City Monument Bank. He has degree in Philosophy from Kings College, University of London. He is a founding Partner and Director of CBO Capital.

Chukuka Chukuma, Head Project and Structured Finance, Stanbic IBTC, Nigeria

Chukuka is the Head of Project and Structured Finance of Stanbic IBTC, Nigeria which comprises Property, Structured Trade, Acquisition & Leverage and Project Finance. He has 15 years experience structuring corporate and project financings, debt and equity capital financings, privatisation, research, and foreign exchange trading. Prior to joining Stanbic, he held various roles including VP & Regional Head, Investment Banking at Afrinvest Limited and was an Associate with Citibank’s Corporate and Investment Banking Group based in Nigeria where he worked in both in the Investment Banking and Structured Debt Units. Prior to Citibank, Chukuka worked as a Financial Analyst in Salomon Smith Barney’s Equity Capital Markets Group in New York (NY). He was also a Trader’s Assistant in J.P. Morgan’s Foreign Exchange Department (NY) and a Research Assistant in Goldman Sachs’s Investment Banking Division Library (NY). Chukuka graduated from Baruch College in New York with a B.B.A. in Finance.