The Architecture of African Capital: Pension Funds, Connected Exchanges and the Diaspora Capital

The 4th Eastern Africa Association Annual Lecture (The John Small Lecture) takes place on Monday, 12 October 2026, from 2:00 PM to 5:00 PM at the Royal Overseas League, St James’s Street, London.

This year’s Lecture will examine how pension assets, diaspora capital and African exchanges can be better aligned to mobilise long-term, local-currency equity for infrastructure and economic growth.

The programme will feature a keynote lecture, responding panels and an Oxford-style debate, bringing together senior representatives from capital markets, pension funds, development finance institutions, regulators, exchanges, institutional investors and listed companies. Discussions will be held under the Chatham House Rule.

The Lecture will be followed by a private networking reception at the House of Commons, co-hosted with the Westminster Africa Business Group, from 6:00 PM to 8:00 PM.

Partners & Sponsors

AXYS

17:30 - 18:00 CPA Room, Houses of Parliament

Guest Arrival & Registration

18:00 - 18:45 CPA Room, Houses of Parliament

Drinks and networking

18:45 - 19:00 CPA Room, Houses of Parliament

Host’s Welcome

Rt Hon. Sir Gavin Williamson CBE MP Chairman, Westminster Africa Business Group

Kamal Shah Chairman, Eastern Africa Association

19:00 - 19:05 CPA Room, Houses of Parliament

Remarks

H.E. Johnston Busingye High Commissioner of Rwanda to the United Kingdom

19:05 - 19:15 CPA Room, Houses of Parliament

Post-Lecture Keynote Address

H.E Dr. Stephen Kalonzo Musyoka, SC, EGH Former Vice President of Kenya

19:15 - 19:20 CPA Room, Houses of Parliament

Vote of Thanks

Jeremy Lefroy Board Member, Eastern Africa Association

19:20 - 19:55 CPA Room, Houses of Parliament

Networking

20:00 - 20:00 CPA Room, Houses of Parliament

Event concludes/ guests depart

13:00 - 14:00 Royal Overseas League

Registration, Working Lunch & Networking

14:00 - 14:10 Royal Overseas League

Welcome Remarks: Hosts and Partners

Kamal Shah Chairman, Eastern Africa Association

Agnes Gitau Executive Director, Eastern Africa Association

Michel Guy-Riyalland Executive Chairman, AXYS

14:10 - 14:25 Royal Overseas League

Keynote Lecture: Four Provocations on Mobilising Capital for Africa's Growth

In this keynote address, Dr. Vera Songwe challenges conventional thinking around capital formation and investment across East Africa through four thought-provoking questions. Why do African pension funds continue to accumulate significant capital while landmark regional investments are often anchored by foreign investors? Why have more than two decades of cross-listing initiatives across East African markets failed to deliver the depth and liquidity needed to support the region's economic ambitions? Is the African diaspora better understood as a strategic investor class rather than solely a source of remittances, and who should develop the financial instruments to unlock that potential? Finally, is the region's slow progress in building the financial market infrastructure it needs a technical challenge, or simply a reluctance to lead?

Dr Vera Songwe Chair of the Liquidity and Sustainability Facility and a Non-resident Senior Fellow at the Brookings Institution

14:25 - 14:30 Royal Overseas League

Special Intervention: Mauritius' Role in Mobilising Capital for Africa's Growth

"This intervention will explore how Mauritius is positioning itself as a key gateway for investment into Africa and supporting the continent's efforts to mobilise both domestic and international capital for sustainable growth. The remarks could highlight recent developments in Africa's financial architecture, including the launch of the Africa Credit Rating Agency in Mauritius, and consider how stronger African-led institutions can enhance investor confidence, deepen capital markets, and unlock greater financing for Africa's development priorities."

Geerja Shankar (Rajah) Ramdaursingh Chief Executive Officer, Economic Development Board, Mauritius

14:30 - 15:45 Royal Overseas League

Responding Panel

A conversation among market practitioners on the structures, incentives, and investor protections required to move African capital into African growth.

Bilal Sassa Head of Global Business, AXYS

Dr. Joseph Macharia Development Finance & Banking Executive

Elise Donovan Chief Executive Officer, BVI Finance

Finn Walker Managing Partner, Heron Partners

Thapelo Tsheole CEO, Afrinex Exchange

15:45 - 16:00

Refreshment & Networking Break

16:00 - 16:10 Royal Overseas League

Presentation: From Opportunity to Bankability: Building Investable African Projects

Presentation will examine what it takes to move an African business or infrastructure opportunity from a compelling idea to a project that institutional, development finance, pension, diaspora and international capital can confidently consider.