In a bid to strengthen the indigenous credit rating sub-sector, Nigeria’s Technology-Driven Credit Rating Agency (CRA), DataPro, will host the 2022 Annual International Credit Rating Webinar in Lagos via zoom on Thursday, October 13, 2022. Themed “Boosting Infrastructural Development (ID) through Pension Fund Investment: The Role of Credit Rating Agencies”, the webinar is geared at analysing the role of Credit Rating Agencies in the efficient allocation of resources within the Capital Market and national economy.
The annual webinar series by DataPro was conceptualized to increase the awareness and knowledge among Nigerians on the value propositions of Credit Raters in accelerating economic development, efficient allocation of resources and promoting ashift towards a credit economy with financial opportunities for everybody.
The 2022 edition of the event focuses on pension funds given the fast-growing amount of Pension Funds available for investment which has led to an increasing shift in conversations and concerns on how operators can effectively manage the assets in the interest of the ultimate beneficiaries. Despite the recent review of the Pension Law Fund allocation to allow for a broader range of investments, Pension Fund Administrators continue to make only limited allocation to infrastructure developments.
Financial Markets, Institutions and Risk Management professor in Italy, Marco Giorginao, will deliver the keynote speech at the end on the topic’The Reshaping of the Financial Industry: The Major role of FinTech and Data for Rating”. Professor Giorginao, is an authority on “Global Risk Management”, “Corporate Finance” and “Corporate & Investment Banking”.
Commenting on the webinar, Mr. Abimbola Adeseyoju, Managing Director, DataPro Limited stated: ”The infrastructural gap in the country is one that we are convinced that can be plugged with effective utilization of the available pension funds. A recent report states that Combined with private equity and real estate investments, allocation to infrastructure hovers between 1.5% and 2.1% annually in Nigeria, which is dire for the long-term growth of the nation. By contrast, Pension Fund Administrators in Australia, Canada, Japan, Netherlands, Switzerland, UK and the US allocate well in excess of 26% of funds to real estate, private equity and infrastructure.
The issues arising therefore are: How do we ensure equitable returns on the Pension Funds? What other Investment options are open to Pension Funds Administrators? How do we utilize Pension Funds for National Development? Nigeria currently is faced with an infrastructural deficit of about $100b annually.
It is estimated that the country needs up to $3trillion over the next 30 years to bridge its Infrastructural Development (ID) deficit. At this year’s event, we will discuss Pension Funds’ rolein bridging this bourgeoning Infrastructure Gap, alongside Pension Funds administrators’ investment strategies.”
The event will also feature a panel session comprising of experts in the value chain to discuss the topic: “Unlocking Infrastructure Asset Opportunities for Pension Managers Through Credit Rating”. The panellists include Mr Peter Ashade, Group Chief Executive Officer, United Capital Plc; MrSuru Daniels, Managing Director, Afrinvest Capital Limited; Mr Olufemi Odukoya, Managing Director, Sterling Pensions Limited.; Mr Dave Uduanu, Managing Director, Sigma Pensions Limited; and moderated by Mr. Oladele Adeoye, Executive Director, DataPro Limited.
Furthermore, the event will serve as the Signing of the Partnership Agreement between DataPro and Mode Finance International on RaaS (Rating as a Service) Credit Risk Management Tool named Tigran for DataPro.
An array of goodwill messages are expected from Mr Lamido Yuguda, Director General, Securities and Exchange Commission; Mrs Aisha Dahir-Umar, Director General, PENCOM; Mr A.B Okauru, Director General Nigerian Governors’ Forum; Mr Faheem Ahmed, President, Islamic International Rating Agency; Mr Cristian Giacomini, Chief Executive Officer, Mode Finance International; Mr Stan Zeze – Founder, Bloomfield Rating Agency and Initiator, Pan-African Credit Rating Agencies.
Last year edition themed: ‘’Credit Rating Imperatives for Issuers & Investors’’. The event was successfully hosted in collaboration with the Association of Issuing Houses of Nigeria (AIHN). Prospective participants can register here: reserve my spot.
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