Turnaround Time: Private Equity Could Be Crucial To Sub-Saharan Africa’s Economic Resurgence
By Bryan Turner, Partner, Spear Capital Let’s not try and gloss over reality. The global economy has had a tough few years. A global pandemic was followed by supply chain disruptions (exacerbated by Russia’s war in Ukraine), which was then followed by rampant inflation, rises in energy costs, and increasingly high-interest rates that have suddenly […]
The Challenges Facing the New Leader of Africa’s Largest Economy are Simply Enormous
A long-term solution to Nigeria’s debt problem is to explore new sources of revenue. To change the current narrative about how risky Nigeria is, the Tinubu administration should introduce policies that improve Nigeria’s economic fundamentals. The country’s external debt stock – what it owes non-residents – was US$41.69 billion in 2022. Multilateral lenders accounted for […]
Understanding the Opinions of Africa’s Rising Generation
On the heels of Africa Day and the conclusion of Africa Month (May 2023), the Ichikowitz Foundation’s globally celebrated African Youth Survey reports that nearly half (46%) of the continent’s young people have never heard about the historic, recently-declared African Continental Free Trade Area (AfCFTA). Just over one-in-five young Africans (22%) indicated that they are […]
SA Reserve Bank Concerned about the Rand’s Recent Meltdown and Persistent Price Pressures
The rand sank to a record low on Thursday after the statement by the South African Reserve Bank’s (SARB) Monetary Policy Committee and subsequent comments by the governor painted a bleak picture for the currency. The currency’s latest slide came after the committee raised its key repo rate by 50 basis points. “Tighter global financial […]
Africa’s Banking Sector Celebrates
Now in its 17th edition, the African Banker Awards celebrate the achievements of individuals and institutions that have contributed significantly to the growth and development of Africa’s banking sector over the past year. Perhaps one of the most coveted prizes of the evening, the African Banker of the Year award, went to Esther Kariuki, head […]
ICYMI Sam Altman Made a Stop in Lagos
The co-founder and CEO of OpenAI, visited Nigeria last week and met with tech entrepreneurs, government representatives, and students in Lagos. It was the only scheduled Africa stop on a 17-city global listening tour to engage with local users of ChatGPT, OpenAI’s signature product. OpenAI presents itself as being governed by the opposite of the […]
Is African Debt as Perilous as Foreign Lenders Assume?
African governments say no. “The perception of risk continues to be higher than the actual risk,” argued Senegal’s President Macky Sall, speaking as chair of the African Union (au), in a speech to the un last year. He pointed an accusing finger at the credit-rating agencies. So did Ghana’s finance minister, Ken Ofori-Atta, in the […]
Accra’s IPPs Threaten Shutdown Over Non-Payment
Ghana’s independent power producers have rejected a government proposal to restructure $1.58 billion in arrears owed them by the state, the head of the group told Reuters on Friday, warning non-payment could lead to a shutdown of their operations. The West African nation aims to cut $10.5 billion in interest payments on its external debt […]
DRC To Change the Way it Does Business with China
The Democratic Republic of Congo is looking to strengthen their partnership with China as the two countries are renegotiating mining contracts for the DRC’s mineral reserves. This first State visit to China by the President of the DRC, Félix Tshisekedi, is the latest in a series of diplomatic exchanges between African leaders and Beijing. Mr […]
Maputo Picks a Partner for its Hydro Plans
Mozambique selected a consortium including TotalEnergies SE and Electricité de France SA as strategic partners in a $4.5 billion hydropower project planned for the center of the southeast African nation. The 1,500-megawatt Mphanda Nkuwa dam and an associated transmission line may play a key role in mitigating a regional electricity shortage. It would be close […]
