Africa

Even though the banking sector remains off-limits, foreign investment in other state-owned enterprises will support infrastructure development.

The new presidents of Angola, South Africa and Zimbabwe could do better, but banks and investors will have plenty of due diligence to do when deciding whether or not and how to commit more resources to these countries.

With the election of Cyril Ramaphosa, there is a new sense of optimism in the country. Bankers talk of Ramaphoria and hail the first signs of a long-overdue improvement in the economy.

Oil prices and currency controls created opportunities for some banks, which reported bumper gains from FX and fixed income last year, but no one is expecting a repeat of that. Can lending keep them sweet?

South Africa’s new deputy finance minister took a tough stance on corruption under former president Jacob Zuma – now Mondli Gungubele talks to Euromoney about the embarrassing Zuma years and the Ramaphosa government’s plans to turn the economy around.

Now Mugabe is gone, one of the poorest nations in southern Africa can see the first signs of interest from international investors, but a chaotic currency regime, heavily indebted economy and looming elections are turning initial euphoria into cautious optimism.

While most countries have adopted e-wallets and mobile banking as a result of technological innovation and evolution, Zimbabwe was forced into it because of a financial crisis.

The volume of sub-Saharan Africa (SSA) FX business done electronically is growing, with the large South African banks in the vanguard.

Despite a new prime minister and growing economic pressures, Ethiopia seems unlikely to seize the opportunity to open up its financial sector and lure more foreign investment.

South Africa’s reputation for insalubrious dealings under Zuma makes it fertile ground for maverick short-sellers.

Blue finance is set to take off this year, buoyed by growing appetite for investments in sustainable fisheries, conservation and alternative plastics. It’s further evidence of the influence of the UN Sustainable Development Goals.

A former social worker from middle England has suddenly become the biggest influencer in South Africa’s stock market. He called Steinhoff’s collapse correctly. In making banking sector star performer Capitec his next target, has Viceroy Research’s Fraser Perring got it right again? Or, as the bank’s leadership insist, is he a one-hit wonder?

Central bank governor Patrick Njoroge talks to Euromoney about the challenges of a turbulent year in Kenya and about his strategy to tackle them.

Arunma Oteh has helped develop new financial tools to address the world’s most pressing issues – in an exclusive interview, she talks about the difference the capital markets can make and her previous career fighting corruption in Nigeria.

It’s goodbye cash, hello mobile wallets and digital payments, as Egypt uses financial technology to streamline payroll, keep money in the financial system and improve tax collection.

As Denny Kalyalya’s first term as Zambia’s central bank governor draws to a close, he reflects on the need for IMF support, the currency and debt crisis that engulfed the country two years ago and his efforts to deliver a recovery for the long term.

Following Mozambique's default, is it time to reassess which other African Eurobond issuers might follow suit – and what options are open to issuers – given deteriorating finances and rising global interest rates?

Barclays’ exit from the continent shows how banks based in developed countries are either unable or unwilling to support growth in emerging markets. But for institutions with a focus on Africa, the departure of such international rivals makes banking in the region look even more attractive.

Barclays’ ownership has hobbled some of its biggest businesses in Africa. Now Maria Ramos, chief executive of the Johannesburg-listed successor company that makes up the bulk of Barclays Africa, tells Euromoney Africa about the challenges she faces in extricating Absa and the rest of the network from the London-based group.

Currency devaluations and swings in commodity prices have taken their toll on many a private equity investment in Africa in recent years, particularly for those who invested at the height of the Africa bull market between 2005 and 2013. These days, sponsors are picking their targets carefully, with a focus on domestic consumers and non-commodity exporters.

Investors have welcomed Nigeria’s new FX regime that was merged with the interbank rate in August, but doubts remain, as the market still grapples with multiple official rates.

Amr El-Garhy is Egypt’s ninth finance minister in a little over six years – and after a revolution, a coup d’état and last year’s surprise currency flotation, the Egyptian economy is in desperate need of stability. El-Garhy talks to Euromoney about the challenges facing him and the country.

It is not just corporations and states that have built up record debt levels: the indebtedness of the booming sub-sovereign market – especially among state-owned enterprises – can be difficult to see until something goes wrong. Should investors be spooked?

Morocco’s Banque Centrale Populaire has entered into negotiations with Bank of Kigali to acquire a minority stake in the Rwandan bank.

It is rare for financial market professionals to feel they are helping to save the world, but a new capital markets deal from the World Bank to help the poorest countries cope with pandemics might be doing just that

Incensed by their failure to reform, Brics policymakers have established a flawed rival to the World Bank and IMF. Rhetoric aside, the west dismisses emerging-market dissent over the broken financial architecture at its peril.

Want to invest in repackaged loans for low-cost black housing? Or the City of Johannesburg? South African telecommunications? The lifting of sanctions on South Africa could unleash a pent-up demand for funds totalling $3 billion to $4 billion a year or more.

It is the deal of the year, the financing that had everything. This was the second jumbo financing for the Federal Republic of Nigeria. It was also the second within a year. The first jumbo, for $1 billion, was signed in January, having run into major problems over pricing and the information memorandum.