28 May 2020 @ 1:00pm | Discuss and propose solutions for digitizing regulatory processes for inter and intra-African trade.
Following the recent African eTrade Leaders Consultative Summit, held with the Secretary Generals of the International Chamber of Commerce (ICC), Berne Union, the African Continental Free Trade Area (AfCFTA), the World Customs Organization (WCO) and the World Trade Organization (WTO), the African Union has requested a follow up RegTech Investors Consultative Summit to generate and make concrete recommendations from leading global RegTech stakeholders on issues such as:
- Opportunities to assist budget constrained governments, leapfrog dated import and export regulations/systems and harmonize the many and contradicting product classification codes
- How RegTech solutions can support SME exporters and importers in accelerating transactions, delivery, and goods return times
- RegTech and Big Data innovations currently available for African government to boost cross border intra-African eTrade for SMEs
- Perceived benefits/risks of these platforms on trade flows, jobs, etc.
- Policy frameworks and roadmaps that incorporate the use/implementation of cutting edge technologies that are also applicable to an African context
- Countries that have successfully implemented (or are transitioning to) these types of solutions
- Discussion on opportunities for public-private sector engagements/partnerships in the space
- Lastly, in addition to “standard” investment criteria, what are key considerations investors make when evaluating Trade- or RegTech solutions?
With a 103% increase in YoY investment during the first 3 quarters of 2019, RegTech is one of the fastest growing tech categories for global investors. As African governments accelerate the adoption of technology and pursue an ambitious regional eTrade agenda through the USD $3.2 trillion African Continental Free Trade Area (ACTFA), there’s the opportunity for RegTech solutions to greatly reduce the administrative burden and costs of ensuring firms and individuals are compliant when doing business both within and between borders. The African Union has tasked the RegTech industry to table solutions and proposals that allow governments and companies to take a more proactive tech driven approach to tackling regulatory challenges before they occur.
Mr. Hubert Danso, Chairman of the African Union’s Continental Business Network (CBN), a high-level business leaders’ forum that supports African Union Heads of State, with their private sector development and inward investment attraction policies. Mr. Danso also serves as the CEO and Chairman of Africa investor, an investment holding platform connecting multi-billion dollar pools of capital with African infrastructure and trade tech growth opportunities.