Posted on October 12, 2021
The Autumn Academy “Futures Thinking and Strategy Transformation for CGIs in the MENA Region” was organised by the Euro-Mediterranean Guarantee Network (EMGN) on 4 – 7 October 2021, as part of its activities in the field of peer-to-peer learning and capacity development.
The EMGN Academy is promoted by the Euro-Mediterranean Economists Association (EMEA), the European Institute of the Mediterranean (IEMed) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). The Autumn Academy, conducted virtually, was co-organised by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and Co-hosted by the European Association of Guarantee Institutions (AECM).
This autumn academy focused on the need for future thinking and strategic foresight. It was designed to support Credit Guarantee Institutions (CGI) from South and East Mediterranean partner countries in identifying market trends, industry disruption, and the future of CGIs. Accordingly, the methods consisted of a mixture of inputs from different resource persons, combined with interactive methods making use of the online collaboration platform Miro, and a professional facilitator who guided the group through the whole process.
Key highlights from the EMGN Autumn Academy training workshop:
- The COVID-19 Pandemic highlighted the important role of CGIs in absorbing the shock, however, it revealed that the current business models are not suitable for the challenges and opportunities ahead.
- CGSs should adopt new processes to work with new partners including Fintech and new products with the aim of fostering sustainable investment.
- CGSs need to develop strategic capabilities to create superior positions in attractive arenas of the future.
- A number of challenges and game changers ahead were identified, including:
- CGSs need to build an ESG-oriented organization
- Digital transformation is key for higher efficiency, hence, CGSs need to become familiar with digital business models and adapt structure and processes constantly
- CGSs need to tackle regulatory pressure to make sure it is not hindering change and innovation
- Private equity guarantee have potential in the region to boost investment in SMEs
- CGSs in the region are starting to tackle these challenges; CGC Egypt are in the process of revising their business model, JLGC Jordan are progressing in their digital transformation journey, and CCG Morocco are developing their products particularly equity guarantees.