Burundi Financial Institutions Summit

10/11 December 2019
Royal Palace Hotel, Bujumbura, Burundi

 

The Burundi Financial Institutions Summit is an event organized by TCX and sponsored by The Eastern and Southern African Trade and Development Bank.

TCX and Frontclear (see info below) will be travelling to Burundi to gather Burundian financial institutions and present the FPAS model during a dedicated event. However, this event, which is free of charge, has multiple goals: TCX has recently commissioned a Forecasting & Policy Analysis System (FPAS) to forecast economic developments and to price currency risk in Burundi. The development of this model enables TCX to price USDBIF hedging instruments for tenors ranging from 2 to 25 years. TCX hopes that developing pricing capabilities in BIF will help its investors and counterparties to start offering funding denominated in BIF and/or USDBIF hedging solutions to financial counterparties in Burundi.

  • networking between banks, MFIs and investors to find investment opportunities;
  • present the newly developed macroeconomic model (FPAS) for Burundi which provides an in-depth analysis of macroeconomic and monetary policy trends and quantifies underlying macroeconomic risks;
  • present to the financial sector the local currency solutions available through TCX, MFX & Frontclear and by extension to our network of investors and counterparties;
  • discuss local currency financing solutions and different options to hedge the currency risk arising from changes in the USDBIF exchange rate.

We welcome participants from local government / central bank, local banks, microfinance institutions, DFIs and MIVs. This invitation is addressed to our known contacts, but please forward it to other colleagues within your organization that you feel should attend the summit. There is, however, a maximum number of attendees that can be facilitated, so the earlier you confirm your attendance, the better.

Date: December 10-12th, 2019
Location: Royal Palace Hotel
Confirmation: The event is free of charge, but please confirm your attendance by email to j.luini@tcxfund.com

Program – Tuesday, December 10th, 2019
TimeActivity
8:30-9:30Arrival and registration of guests; coffee
9:30Arrival of His Excellency the Minister of Finance, Budget and Economic Development Cooperation
9:30-9:40Drums
9:40-9:50Speech by the Director of Investment Promotion Agency
9:50-10:00Steering committtee / Moderator
10:00-10:15Speech by His Excellency the Minister of Finance, Budget and Economic Development Cooperation
10:15-10:25Group photo
10:25-11:00Coffee break
11:00-11:20Presentation: Opportunities and Challenges for Investments in Burundi, by Esaie Ntidendereza, CSPI / API
11:20-11:40Presentation: The Financial Sector in Burundi: Opportunities and Challenges, by the Ministry of Finance / Central Bank of Burundi (BRB).
11:40-13:00Exchanges and debates
13:00-14:00Lunch break
14:00-14:15Presentation: TCX introduction by Jonas Enrico Luini, TCX
14:15-15:00Presentation: The Eastern and Southern African Trade and Development Bank
15:00-15:30Presentation: GuarantCo
15:30-15:40Reviewing major recommendations, by TCX
Program – Wednesday, December 11th, 2019
TimeActivity
8:30-9:30Coffee & installing guests
9:30 -9:50Presentation on the FPAS model and forecast for Burundi, by Gyorgy Molnar, IKM
9:50-10:10Presentation on financing solutions in local currency and hedging currency risk by Jonas Enrico Luini, TCX
10:10-10:50Presentation: The Eastern and Southern African Trade and Development Bank
10:50-11:10Coffee Break
11:10-11:50Presentation on the use of money market instruments (repos) to increase the liquidity locally: the business model of Frontclear, by David Thuo, Frontclear
11:50-12:00Speech by Serge Nsabimana, the director of API
12:00-13:30Lunch & networking – Royal Palace Hotel
13:30-14:30Closing speech by His Excellency the Minister of Finance, Budget and Economic Development Cooperation
14:30-16:30Private meetings between financial partners and local economic operators
16:30-16:45Closing of the second day

About TCXwww.tcxfund.com
TCX is a fund created in 2007 by development finance institutions and microfinance funds to offer hedging instrument to cover FX risk and therefore facilitate local currency financing in emerging and frontier markets. TCX provides hedging solutions to both investors and investees worldwide. The African Development Bank, IFC, FMO, KfW and AFD are among TCX’s shareholders.

About Frontclearwww.frontclear.com
Frontclear is a development fund based in Amsterdam and our shareholders are DFIs the likes of FMO, EBRD, Proparco, TCX, KfW, BMZ, amongst others. We incentivize money market development in emerging markets by issuing investment grade guarantees that hedge collateralized funding deals (repos) between an offshore funding bank and local borrowers. We allow borrowers to post local law sovereign bonds in local currency and/or USD as collateral and thus are able to unlock fresh liquidity on the back of these bonds have low secondary market liquidity. We follow up these transactions with technical assistance programs paid out-of-pocket to achieve a better understanding and/or achieve regulatory reform amongst local market players/regulators.