The African continent contains some of the fastest growing economies in the world. Collectively, growth in Sub-Saharan Africa alone is projected to climb to an average 3.6% in 2019–20, up from 3.1% in 2018, according to the World Bank. Yet it is also home to many of the poorest countries, with the lowest GDP per capita. With its fast-growing population, rapid urbanization, and expanding middle class, the potential for further economic growth in Africa is enormous. But there remain many barriers to realizing anything near the continent’s full potential.
Railway development in Africa as a path to economic growth is attracting capital and government support.
Forget remittances. The best new tool for funding Africa may be bonds marketed to African expats.
Innovation can help save Africa's endangered species.
Out with the old, in with the new? Not quite, as the region’s incumbent banks are stepping up to the challenge presented by a spate of new, digital-only entrants that have no legacy system costs.
With customers hungry for new digital experiences and a large unbanked population, Africa is shaping up as a bellwether of how banks can truly embrace the digital age and serve customers better.
The DRC has immense mineral resources and other investment opportunities, but they come with political corruption and risk.
Ugochukwu Nwaghodoh, group CFO of United Bank for Africa, speaks with Global Finance about how the continent’s youthful populations have rapidly embraced digital technology, and the vast market opportunities that remain.
Maria Ramos, chief executive of Barclays Africa (Absa), wants to tap into Africa’s tech savviness to get ahead of the digital wave that is breaking across the continent.
Headwinds hit currencies in emerging markets.
Sim Tshabalala, group CEO of Standard Bank, explains how Africa’s biggest bank is using its new digital capabilities to better understand its clients.
The IMF is increasingly worried about Africa's debt levels.
Michael Jordaan, co-founder and chairman of Bank Zero, and his team are working around the clock to launch their digital-only bank, which will provide competitive fees and savings rates for consumers.
Slow GDP growth clouds outlook: Mobile technology is bringing banking to the continent’s unbanked, and is expected to help stimulate growth.
Sub-Saharan Africa is already light years ahead of the rest of the world in advancing mobile banking. Now, governments are pressing for more cross-system compatibility.
Given the continent’s large youth population, the future of banking is digital. But who will win the battle for clicks over bricks? The incumbent banks—or fintechs and telcos?