THEME

A NEW ERA: TIME TO MOBILISE AFRICA’S FINANCIAL POWER

As Africa stands on the cusp of a new financial era, the need to harness its immense economic potential has never been more urgent. The continent’s financial resilience has been put to the test in recent years, as global market conditions have hardened, and credit rationing has cast a shadow over its economies. Yet, despite these challenges, Africa’s private investment landscape remains robust, driven by remarkable agility, and industrial, commercial, and financial firms with large continental footprints have still managed to secure financing.  

However, while short-term resilience has been commendable, Africa’s financial future demands bold, long-term strategies. Retail customers and SMEs continue to grapple with high interest rates, and private equity deals have hit historic lows. The withdrawal of long-established international players further underscores the need for action. 

Now more than ever, the continent’s leaders must build on this momentum by pushing for reforms that will modernise and consolidate the financial industry. The community of African financial leaders, meeting at the upcoming Africa Financial Summit – AFIS in Casablanca on December 9-10, will focus on five key priorities aimed at driving transformative change: 

1- Creating banking products and capital market solutions to channel local savings into productive investments, fueling growth and development; 

2- Facilitating payment interoperability, reducing the cost and time of cross-border transactions, and enabling faster trade across African borders; 

3- Strengthening capital requirements for financial institutions, consolidating the industry, and encouraging partnerships with international financial centers; 

4- Bringing financial products to the informal workforce, which makes up 83% of Africa’s economy, by leveraging digital channels to offer insurance and banking services; 

5- Building a pan-African stock market, tackling market fragmentation, and boosting intra-African investment, creating a truly integrated financial ecosystem. 

As the summit draws the continent’s most influential policymakers and financial leaders to Casablanca, it becomes more than just a gathering—it’s a call to action. This is the moment for Africa to assert its place in the new global financial order, to chart a bold course that not only responds to the continent’s needs but sets a global benchmark for innovation and impact.