The banking sector is at the core of activity in the global economy, spanning the broadest gamut of transactions. From multi-billion dollar corporate mergers and acquisitions on Wall Street, to purchasing vegetables using M-PESA on a Nairobi street corner; from funding the newest tech start-up in Bangalore, to facilitating long-term project finance of offshore wind-power projects in the North Sea. Banking, either directly or indirectly, touches every transaction that involves money.
How to oversee the governance of banks, to assess the risks and opportunities that arise, deal with regulation of the sector and stay ahead of technology trends while being mindful of sustainability among a plethora of other factors is difficult and complex, but also intellectually stimulating and exciting.
It was therefore a privilege and honour to join the 2024 cohort of the Oxford Bank Governance Programme at Saïd Business School discussing and exploring various aspects of bank governance. We were a diverse group of current, past and prospective bank executives, directors and advisors from 24 different countries, all contributing unique perspectives to supplement materials presented by the academics and sector experts that the University of Oxford invited to the programme. For me, it was a week of refreshing renewal of existing knowledge, bolstered with new insights into old problems as well as projections of emerging trends.
As the chairman of the Asset Management Committee of Arise BV, which has invested about US$ 1billion in a portfolio of banks and fintech companies across Africa, the programme provided valuable tools and insights.
Learning was particularly powerful because my colleagues in the cohort brought and shared a wealth of banking experience from regions as diverse as the UK and the USA, to Slovenia, Netherlands and Poland, to the Middle East, Cambodia, Mongolia, Ghana, Nigeria and Uganda to mention some. We had faculty who had lived through Lehman’s demise, cohort colleagues who had an insider view from Silicon Valley Bank’s collapse, and yet others who shared firsthand narratives of impressively successful growth and development of banks elsewhere.
I extend my thanks to the Saïd Business School for the awesome learning experience.
