The Biggest Issue on Every African Finance Ministers’ Mind at the Spring Meetings was the Risk of a Debt Crisis in the Region
African countries are pushing for greater influence at the World Bank and International Monetary Fund to prioritize the needs of developing countries grappling with one of the harshest economic environments since the 2008 financial crisis.Calls to reform the so-called Bretton Woods’ financial institutions have grown louder in recent months as the mounting debt problem threatens […]
Standard Bank’s Sim Tshabalala Gets Behind AfCFTA To Drive Cross-border Growth In Africa
The role of banks in enabling the African Continental Free Trade Area (AfCFTA) has been highlighted at AfCFTA’s Business Forum held in Cape Town. The AfCFTA is a key opportunity for Africa to alleviate poverty, drive economic activity and achieve prosperity for her people, says Standard Bank, a key sponsor of the important business event. […]
IDB Invest Eyes Rare Risk-Transfer Bond Deal Pioneered in Africa
Inter-American Investment Corporation is looking to free capital as part of its plan to increase lending in Latin America and the Caribbean through a type of synthetic securitization pioneered in Africa almost five years ago. IDB Invest is looking to build on a $1 billion transaction known as Room2Run, which was first used by African […]
IMF Calls on African Nations’ Creditors to Step Up Debt Relief Efforts
The head of the IMF’s Africa department has called for a significant increase in international support to help countries overcome a funding squeeze that is jeopardising the continent’s economic development. Abebe Selassie told the Financial Times that reform of the current mechanisms for dealing with unsustainable debts of African countries was “desperately needed”. Many have […]
WEF: A New Era for African Agriculture
According to the World Economic Forum’s Insight Report on the deal — AfCFTA: A New Era for Global Business and Investment in Africa — the free trade area, one of the world’s largest by number of people and economic size, is projected to host 1.7 billion people and oversee $6.7 trillion in consumer and business […]
US, Kenya Teams Open Trade Talks Amid Smallholder Farmers’ Protest
As Kenya and the US began the second round of the Strategic Trade and Investment Partnership (STIP) negotiations, concerns are being raised on whether the two sides will fully address key issues that have held back Kenya’s economic take-off. The Export Processing Zone manufactures apparel for the US market under the African Growth and Opportunity […]
Zambia-FQM: Swapping Dividend Rights for Royalties Fuels Mining Optimism
ZCCM-IH, Zambia’s holding company that holds stakes in privately-owned large-scale copper mines, says it has agreed to convert its dividend rights in Kansanshi Mine – majority-owned by First Quantum Minerals (FQM) – to a 3.1% revenue royalty. The move is expected to end a years-long dispute with the Vancouver-based mining giant. In the new payment […]
Brookings Looks at Urban Economic Development in Africa Using Nairobi as Case Study
Ajay Banga began his global tour on Monday, with his first stop in Abidjan, Côte d’Ivoire where he met Dr Akinwumi Adesina, senior management and the Board of Directors. Banga spoke about the need for the World Bank Group to develop a strong partnership with the African Development Bank Group that would help deliver transformative […]
A Mining Boom could Drive Corruption Risks, especially in Emerging Markets
While an increase in mining investment presents economic opportunities for mineral-rich countries through taxes, jobs and new infrastructure, past experience provides a cautionary tale. The EITI’s report charts the many governance challenges that could arise from a mining boom, ranging from environmental harm, social conflicts and corrupt deals to price shocks and disruptions in global […]
Key Macroeconomic Themes Faced by African Economies
Curated by Standard Bank’s Head of Global Markets Standard Bank recently gathered central bank governors from across the continent to discuss the key macroeconomic themes faced by African economies. The articles below, curated by Standard Bank’s Guido Haller reflect the key themes discussed by the central bankers at this pivotal convening. With sovereign debt restructuring […]
