One way of looking at the world economy at the moment is that we are experiencing a series of significant political shocks – the serious issues between the United States and China, Brexit, the problems in Hong Kong, the tensions between Japan and South Korea, and the stresses in Italy.
As you must be aware, cross-border banking activities within the African continent have intensified. The challenges posed by this development are more daunting than it used to be in the past. The lack of proper regulatory oversight of many bank holding groups on the continent is often inimical to consolidated supervision.