Over the course of the past quarter, This is Africa has been speaking with senior figures in the banking industry across the continent, as well as to some of the sector’s leading analysts and investors. No two banks are the same, but across almost all TIA’s conversations, three key themes emerged:
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Mobile banking
When Vodafone launched the M-Pesa mobile money transfer service through its subsidiary Safaricom in Kenya in February 2007, few could have predicted its success. Originally developed with funding by the UK’s Department for International Development, it has quickly outgrown its development roots. By April of this year the service had 9.5m active users and accounted for approximately $330m worth of person-to-person transactions.
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Cashew
West Africa is developing into an increasingly significant producer and processor of cashew nuts, feeding into lucrative markets in India
More . . .- Nurturing innovation
The Nile Exchange is one of a number of initiatives designed to provide a boost to Egypt’s small- and medium-sized enterprises but these are just a small step on the difficult path towards creating a culture of entrepreneurship in the region
- Regional integration There is a renewed sense of optimism surrounding regional integration in Africa, as the continent’s governments increasingly turn to the private sector as the main driver of economic growth
- Strength in numbers Comesa’s proposal for a common investment area could act as a spur to cross-border investment
- Reforming Senegal’s customs A public-private partnership has vastly improved the customs clearing procedures at Dakar port
- The rebirth of the East African Community A new report from brewer SAB Miller, “The East African Community: Why this time is different,” gives a cautiously optimistic assessment of the East African Community’s prospects in building a coherent regional economic and political framework at the second attempt.
- African operators seek new frontiers Much of Africa’s mobile revolution has been concentrated in a few countries, but with increasing levels of competition, operators are looking to expand into non-traditional markets in order to secure future growth
- Signposting the route to private investment Attracting private investment back into African infrastructure will be critical if the continent is to open up bottlenecks and catalyse development
- The Engine Room While small enterprises are the lifeblood of African economies, they often struggle for financing. but are things changing?
- A golden opportunity Africa's low level of connectivity to international air routes risks putting a brake on ambitions to boost Southern Africa's tourist industry on the back of this year's World Cup
- Alive and kicking The African microfinance industry appears to be in good health despite worries that the financial crisis would hit it hard, but concerns over management quality and legislative hurdles remain
- Bharti closes on Zain India’s largest mobile operator is on the verge of fulfilling its ambition of establishing a major presence in Africa. Success would transform the company into an emerging market multinational; a development that could have far-reaching implications
- Passport to growth Advances in biometric identification technology could be used by African governments to improve social and political inclusion and spur economic development on the continent
- Investing against the flow Private equity is proving a popular vehicle for private and public investors in Africa as it demonstrates development benefits and high returns
- Upwardly mobile Continued growth in the continent’s mobile subscriber base and an expected shift towards more sophisticated devices in the coming years could make Africa the next frontier in the global mobile handset market
- Unlocking Africa’s broadband potential The arrival of fibre-optic cables on Africa’s shores provides an opportunity for operators to open up broadband markets across the continent, although these undersea cables are only one part of the access puzzle
- A boost for bonds Indications that liquidity and demand will return for African sovereign issuance bode well for new players looking to boost their financing options
- Adapting to an uncertain future Commodity producers hit by volatile prices are looking for effective hedging tools to mitigate the risks.
- Sustainability concerns for Kenyan tea The frenzy over high tea prices in East Africa could be disguising more long term, structural shifts in production of the commodity, as climate change and local environmental degradation weakens crops
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