USB Events

Inaugural Development Finance Forum

Facilitated by the African Centre for Development Finance (ACDF)


  Online event   26 August 2020

Re-imagining the role of development finance institutions in public policy: Lessons from COVID-19

Join our esteemed panel of speakers as they explore new directions towards achieving sustainability for Africa post the unprecedented COVID-19 pandemic.

Date:               Wednesday, 26 August 2020

Time:              15:00 – 17:00 (CAT)

Enquiries:        Surita Basson | [email protected]

About the speakers

Mr Geoffrey Qhena

Mr Geoffrey Qhena
Immediate Ex-Chief Executive Officer: Industrial Development Corporation (SA)

Geoffrey Qhena is the immediate Ex-Chief Executive Officer of the Industrial Development Corporation (IDC) of South Africa. Under his stewardship of 13 years, Mr Qhena built the IDC into a significant development financial institution, growing its asset base from R31bn in 2004 to R137bn in 2018.

A qualified Chartered Accountant, Mr Qhena holds a BCompt and BCompt (Hons), Advanced Certificate in Taxation, all from the University of South Africa. He started his career with KPMG and the Transnet Group before joining the IDC. Over the period of his career, he has held directorship positions in Acerinox, SA based in Spain and in Findevco (Pty), and Chairmanship Board of Directors of Foskor (Pty) Ltd. He is presently a Trustee of an NPO, Air Mercy Services and a non-executive director of Investec bank Limited.

The IDC is the government’s most important development finance institution and has played a critical role in support for private-sector companies, through financing ventures considered strategic for the economy. Its role has been to provide loans and take investment stakes in companies deemed strategic for the economy, in South Africa and the rest of the African continent.


Prof Léonce Ndikumana
Director, African Development Policy Program, Political Economy Research Institute (PERI), University of Massachusetts, USA

Léonce Ndikumana is a Distinguished Professor of Economics and Director of the African Development Policy Program at the Political Economy Research Institute (PERI) at the University of Massachusetts Amherst, USA. He is a member of the Independent Commission for the Reform of International Corporate Taxation (ICRICT) and former member of the United Nations Committee on Development Policy. He has served as Director of Research and Director of Operational Policies at the African Development Bank, and Chief of Macroeconomic Analysis at the United Nations Economic Commission for Africa (UNECA),

He is a graduate of the University of Burundi and received his doctorate from Washington University in St. Louis, Missouri. He is an Honorary Professor of Economics at the University of Cape Town and the University of Stellenbosch. He has contributed to various areas of research and policy analysis on African countries, including the issues of external debt and capital flight, financial markets and growth, macroeconomic policies for growth and employment, and the economics of conflict and civil wars in Africa. He is co-editor of Capital Flight from Africa: Causes, Effects and Policy Issues and co-author of Africa’s Odious Debts: How Foreign Loans and Capital Flight Bled a Continent, published also in French as La Dette Odieuse d’Afrique : Comment l’endettement et la fuite des capitaux ont saigné un continent, in addition to dozens of academic articles and book chapters on African development and Macroeconomics.

He is passionate about capacity building in research and development policy, and fulfills his passion as a resource person and mentor for researchers in the African Economic Research Consortium network (AERC), and as a member of the Advisory Board of the Association for the Advancement of African Women Economists.


Prof Lemma W Senbet
The William E. Mayer Chair Professor of Finance, Robert H. Smith School of Business, University of Maryland, USA

Lemma W Senbet is the William E. Mayer Chair Professor of Finance at the University of Maryland, College Park, and an immediate former Executive Director/CEO of the African Economic Research Consortium (AERC). Prior to Maryland and AERC, he was a distinguished professor at the University of Wisconsin-Madison and held the Charles Albright Endowed Chair.

Prof Senbet has achieved global recognition for his extensive and widely cited contributions to corporate finance, international finance, and financial sector reforms. He has received numerous recognitions for his impact on the profession. He has been elected twice as Director of the American Finance Association and is a past President of the Western Finance Association (WFA).

In 2000, Prof Senbet was inducted into the Financial Economists Roundtable, a distinguished group of world-wide financial economists who have made significant contributions to finance and apply research to current policy debates. In 2006, he was inducted Fellow of the Financial Management Association International for  his career-long distinguished scholarship. In 2005, Prof Senbet was awarded an honorary doctorate by Addis Ababa University, Ethiopia’s flagship university.

Prof Senbet has advised the World Bank, the IMF, the UN, AfDB, and various agencies in USA, Canada, and Africa on such issues as financial sector reforms. He is a member of the Brookings AGI Distinguished Advisory Group and of the Advisory Panel of the G20 Compact with Africa.  Regarding his role in the US financial industry, Prof Senbet was a Director of Fotris Funds and is currently an independent Director for the Hartford Funds.

Prof Njuguna Ndung’u

Prof Njunguna Ndung’u
Executive Director: AERC & Immediate Ex-Governor of the Central Bank of Kenya

Njunguna Ndung’u is the Executive Director of the African Economic Research Consortium (AERC), a Pan African premier capacity building network of researchers, educators, students, universities, policy makers and international resource persons. He is an associate professor of economics at the University of Nairobi, Kenya, and a distinguished researcher and trainer. He is the immediate former Governor of the Central Bank of Kenya, where he served for two 4-year terms as required by law, from 2007 to 2015.

He has been a member of Global Advisory Council (GAC) of the World Economic Forum and a Visiting Fellow of Practice at the Blavatnik School of Government, Oxford University. Prior to his appointment as Governor, he was the Director of Training at the African Economic Research Consortium, (AERC). He also worked at the International Development Research Centre of Canada in 2001 and the Kenya Institute for Public Policy Research and Analysis, KIPPRA in 1999.

He holds a PhD in economic from the University of Gothenburg, Sweden. He has published widely in international journals as well as chapters in various books on economic policy issues. Currently he is a Member of the Brookings Africa Growth Initiative (AGI) Distinguished Advisory Group, a Member of the Advisory Committee of the Alliance for Financial Inclusion, AFI, that coordinates financial inclusion policies in Africa, Asia and Latin America, and a Senior Advisor for the UNCDF-based Better Than Cash Alliance.

Dr Rabah Arezki
Chief Economist, Middle East and North Africa Region, World Bank Group, USA

Rabah Arezki is the Chief Economist for Middle East and North Africa Region (MNA) at the World Bank and a senior fellow at Harvard University’s John F. Kennedy School of Government. Previously, Rabah Arezki was the Chief of the Commodities Unit in the Research Department at the International Monetary Fund and a non-resident fellow at the Brookings Institution. He is also an external research associate at the University of Oxford, a resource person for the African Economic Research Consortium and a research fellow at the Economic Research Forum.

Mr. Arezki is the author and co-author of numerous academic journal publications and other publications, including the Quarterly Journal of Economics, the World Bank Economic Review, the Economic Journal, the Journal of International Economics, the Journal of Development Economics and Economic Policy. Mr. Arezki’s research covers a wide array of topics energy and the environment, the macro-development resource rich countries, institutions, human capital, innovation and economic growth.

He is the co-editor, and co-author of four books including Beyond the Curse: Policies to Harness the Power of Natural Resources, Commodity Price Volatility and Inclusive Growth in Low-Income Countries, Shifting Commodity Markets in a Globalized World, and Coping with the Climate Crisis: Mitigation Policies and Global Coordination (forthcoming). Many of Mr. Arezki’s research papers have been cited extensively in academic circles and in prominent media outlets such as the Economist, the Financial Times, the New York Times, the Wall Street Journal, Project Syndicate, and the Washington Post.

His blog posts including on the recent oil price collapse and its global economic consequences have been viewed over hundred thousand times and have been listed as the most read IMF blog posts three years in a row. Mr. Arezki is also a frequent contributor to Finance and Development magazine, VoxEU, an associate editor of the Revue d’Economie du Développement and was until recently the Editor of the IMF Research Bulletin.

A dual citizen of Algeria and France, Mr. Arezki received his M.S. from the Ecole Nationale de la Statistique et de l’Administration Economique in Paris, M.A. from the University of Paris-1 Pantheon-Sorbonne and Ph.D. in economics from the European University Institute, Florence.



Prof Paul Kiyingi Kibuuka
Director: Economic and Business Research of the Bureau of Market Research (Pty) Ltd at Unisa

Professor Paul Kiyingi Kibuuka is currently the Director Economic and Business Research of the Bureau of Market Research (Pty) Ltd at the University of South Africa (Unisa). Prof Kibuuka has 30 years of experience working for government, nine years of which were served in the Civil Service and 20 years in a Development Finance Institution up to the level of Managing Director. He served as a visiting Academic Research Fellow and Senior Lecturer at the University of Witwatersrand, the University of Pretoria and as an Associate Professor of Development Finance at the University of Stellenbosch Business School respectively. He is a director of the Southern Africa Marketing Research Association, Droids Engineering and the chairperson of the Liberty Community Trust Fund.

Prior, Managing Director DBSA DF, Chief Operating Officer/Divisional Executive DBSA DF: Company Secretary DBSA: Project/Policy/Information/Strategy Analyst DBSA:  Senior Statistician


Tags  Development Finance, sustainability, Africa


Join the Stellenbosch Business School community

Receive updates on the latest news, events, business knowledge and blogs at Stellenbosch Business School.