The market for government debt is changing across Africa, and in ways that pose risks for local banks as well as for their investors and customers. States are looking to their banks to help bridge funding gaps so they can better ride out the cycle of lower commodity prices and tepid global growth. That means it is harder to raise international...
Three years into its implementation, Kenya’s devolution project remains a work in progress. The country appears to be on track to reap the benefits of creating 47 new counties and devolving many of the national government’s powers to them, but not without some growing pains along the way.
Even amidst a broader downturn in many African markets, Kenya has consistently been one of sub-Saharan Africa’s most reliable performers. It was the sub-Saharan Africa’s fifth-largest economy in 2015 behind Nigeria, South Africa, Angola and Sudan, ranked 11th in inward foreign direct investment and is one of the few countries in Africa that is...
In 2014 Kenya sold its maiden eurobond, raising $2.8bn in the process. It was an important step forward as accessing dollar-based credit has been crucial to scaling up infrastructure spending and has helped diversify funding sources.
Throughout the African continent, I cannot help but think that we are witnessing a quantum leap. To settle your financial transactions all you need is your phone – that is a service on the forefront of financial technology. Take a look, also, at the ID card that is spreading in many countries. With this, you can get social security payments...
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