Joe Moynihan, CEO at Jersey Finance, presented compelling reasons as to why Jersey’s approach to innovation and collaborative, strategic decision-making between Government, industry and regulator can continue to support economic growth across the Commonwealth.
During two panel sessions held at the Commonwealth Business Forum this afternoon in Kigali, Rwanda, Joe Moynihan joined CEOs from a cross-sector of African financial institutions and he spoke about the strategic decision to invest in Jersey’s telecoms infrastructure – which provides 1GB to every household on the Island and is 100% government-owned – has stood the Island “in good stead” throughout the pandemic in terms of connectivity, accessibility to global business and growing our digital economy.
On the topic of innovation, he spoke about the Jersey Financial Services Commission’s regulatory sandbox initiative as an example of Jersey’s ability to leverage opportunities.
At the second session – a thought leadership think tank on financial and professional services – Joe Moynihan spoke about Jersey’s 60+ years of success as an IFC and the growing complexity of investment opportunities which are increasingly international.
He highlighted the opportunities for Commonwealth countries and nations to work together to simplify cross-border trade and reduce friction for investors, particularly in Africa:
“Investors want confidence. They want confidence in the people that they’re dealing with both from an investment point of view and where they are investing. And on that basis, we need an element of regulation. The trick is to makes sure that the regulation is appropriate; protecting the investor and protecting the jurisdiction”.
CHOGM 2022 ends tomorrow, Thursday 23 June.
With many of the world’s media present at CHOGM 2022, Joe Moynihan had the opportunity to be interviewed by CNBC Africa on ‘Reworking the model of financial centres’, myth busting common misconceptions about IFCs.