The IMF wants a “growth reset” for Africa built on private investment, but conditions have become less favourable. “Globalisation is no longer happening on easy mode,” says NinetyOne, a major African asset manager, as the era of cheap commodities ends and support for economic integration fades. Africa drew $70bn in FDI in 2025, its third highest on record, yet only 14 countries have issued local-currency corporate debt since 2000. FX repatriation rules, fragmented clearing, uneven Basel III implementation, and slow settlement cycles raise foreign investors’ costs and deter African institutional investors from regional markets. Amid the conflict in the Middle East, climbing oil prices and slower growth in China, how can the financial sector help make African assets a safe investor haven?
Key points
- Which capital-charge reforms and local-currency instruments would keep more African pension, insurance and commercial bank capital on the continent?
- What must Africa’s banks, insurers, stock exchanges and fintechs do differently to support a foreign investors’ asset allocation on the continent?
- Where should stakeholders begin to shorten settlement cycles and smooth currency convertibility?