Three financial executives talk future of money, banking, and the economic promise of Africa
IN BRIEF
- “Leveling the playing field would be tantamount to people having the same opportunities, equal opportunities, and equal access to finance. Yes, as much as the level playing field will be there in terms of the mode of using this money digitally, there will be some areas where there'll be less equity than others.”
- “One of the biggest challenges that globally we still have is that we have not really had the kind of transformation that we need at that level of capital allocation, and capital and fund management, which then can trickle down to making sure that we then achieve equity in the access to finance.”
- “Africa is the happening place. I think all major developments will take place in Africa. Why? Because we have a very youthful population in Africa, a growing middle class, and we have abundant natural resources, increasing urbanization, which may be good or bad, depending on how you handle it.”
Joe Kornik, Editor-in-Chief of VISION by Protiviti sits down with a panel of three longtime financial executives with more than 75 years of combined experience in financial services and banking in Africa—Sepo Haihambo, Faith Khanyile and Charity Chanda Lumpa—to discuss the future of the sector, currency and the continent.
In this discussion:
1:25 – A macro perspective on the future of the industry: digitization, inclusivity
5:06 – A more equitable money landscape
10:19 – Implications of digital money
12:40 – Future of banking: consolidation, collaboration, complience
19: 36 – Economic prognosis for Africa
Lumpa is the founder & CEO of the Charity Chanda Lumpa Foundation, a nonprofit seeking to support community projects. She was a three-time CEO of the Zambia National Tourism Board, Ecobank Zambia Limited and Airtel Networks Zambia Plc and has extensive experience in insurance, banking, tourism and telecommunications. Previously, she had held executive roles in Citibank Zambia, Barclays Bank and Stanbic Zambia Ltd. Lumpa is a member of the Supervisory Board of Oikocredit Netherlands and VP of The Institute of Directors of Zambia.
Faith Khanyile is a financial executive and futurists with 25 years of financial services industry experience in corporate and investment banking, private equity and balance sheet equity investing. She is passionate about growing businesses, empowering people and providing opportunities for women and young people. Previously, she was the Chief Executive Officer of WDB Investment Holdings and Head of Corporate Banking at Standard Bank Group, both in Johannesburg.
Sepo Haihambo is Executive Officer, Commercial Banking, of First National Bank Namibia where she is responsible for the alignment of bank global strategy with full accountability for segment operations, regulatory, risk management, income statement and balance sheet management. Previously, Haihambo was Head of Global Markets for Rand Merchant Bank in Namibia. She is a seasoned senior executive with deep business knowledge, good business acumen, and a proven leadership record of accomplishments leading strategic turnarounds and high-growth strategies.
Did you enjoy this content? For more like this, subscribe to the VISION by Protiviti newsletter.
