Amaechi Michael Okobi’s Post

Africa's Future: Domestic Money Pools Don't create enclaves of international money in Africa. Engage with domestic money pools. That's not what big international money wants to hear. They think domestic money pools are small and messy. Yet, to mobilise Africa's human ecosystems, we must see domestic money pools engage international capital. Africa's political leadership: That's ground zero. #africa #infrastructure #capitalmarket #afdb #worldbank #uneca #auc https://lnkd.in/ee49aWjj

Standard Bank, the leading bank and #financialservices group in Africa, will champion the vital role of global trade, #economicdevelopment and robust partnerships at the opening Tuesday of a power-packed U.S.-Africa business summit. The Corporate Council on Africa (CCA), which is hosting this 16th U.S.-Africa Business Summit, expects more than 1,500 public and private sector leaders looking to burnish economic investments, especially in diverse sectors such as technology, energy, agriculture and health care.   “#Trade and investment are economic lifelines, and this meeting links immense potential in Africa with the powerhouse market of the United States,” said Anne Aliker, Standard Bank’s Group Head, Corporate and Investment Banking, Client Coverage. “Both offer abundant growth opportunities, leveraging Africa’s markets and resources while providing avenues for U.S. businesses to diversify.” Aliker has major speaking roles at the conference as does Dele Kuti, Standard Bank’s global head of energy and infrastructure. Also in the bank’s delegation: its recently named New York CEO, Derick De Zilva. https://lnkd.in/dDWHYy9a

The African Union has officially endorsed President Nana Addo Dankwa Akufo-Addo's proposal for mobile money interoperability across the continent, a crucial step towards enhancing economic integration and trade. This decision was made during the AU’s Sixth Mid-Year Coordination Meeting in Accra, where two key reports were presented: the establishment of African Union Financial Institutions and a strategy for scaling up mobile money interoperability. The AU aims to achieve mobile money interoperability by 2027, integrating all member states into the Pan-African Payment and Settlement System (PAPSS). This initiative is expected to facilitate cross-border mobile transactions and create a regulatory framework for mobile money operations. With mobile money transactions in Africa exceeding $1.26 trillion—nearly 40% of the continent’s GDP—the push for interoperability is essential for reducing transaction costs and fostering economic growth. President Akufo-Addo highlighted its importance for financial inclusion, particularly for marginalized populations, and its potential to create job opportunities for the youth.

Africa must forge its own financial destiny. The continent's true economic independence and prosperity hinge on building a robust, self-reliant financial architecture that serves its unique needs and aspirations. For too long, Africa has been unfairly dependent to external financial systems that often prioritize foreign interests over African development. The time has come for a radical shift. By creating its own financial institutions, regulatory frameworks, and monetary policies, Africa can: 1. Break free from the cycle of debt and dependency 2. Channel resources towards African priorities and innovations 3. Foster intra-African trade and economic cooperation 4. Shield itself from global financial shocks and manipulations 5. Nurture homegrown industries and entrepreneurs This is not merely an economic imperative, but a matter of dignity and self-determination. Africa's vast resources, youthful population, and untapped potential demand a financial system that amplifies rather than constrains its growth. The path forward is clear: Africa must unite, pooling its collective expertise and resources to build financial institutions that reflect its values and ambitions. From a pan-African central bank to a continent-wide stock exchange, from innovative mobile banking solutions to blockchain-based currencies – the tools for financial sovereignty are within reach. The question is not whether Africa can afford to create its own financial architecture, but whether it can afford not to. The future of the continent hangs in the balance. It's time for Africa to take control of its financial narrative and write a new chapter of prosperity, independence, and global leadership.

Where to invest in Africa Out of 31 African countries evaluated, RMB - Rand Merchant Bank, 'Where to invest in Africa' report identifies the top five investment destinations on the continent as the Seychelles, Mauritius, Egypt, South Africa, and Morocco.  Business Day TV discussed the findings in more detail with Samantha Singh-Jami, Africa Strategist at RMB.    Tune into 'Business Lunch' on Business Day TV at 12:30, only on Dstv channel 412, for your essential roundup of the day's financial headlines and market insights. #WhereToInvestInAfrica #InvestInAfrica #AfricaGrowth #MarketInsights #Businessnews #AfricaStrategy   

Expat in Africa?🦁 See my latest article on Skybound Wealth Management website on the benefits of being an expat in Africa and how to utilise your Expat status.👇🏻👇🏻👇🏻

Investing in targeted financial literacy programs in Africa can empower individuals; opening access to previously unbanked Africans, as well as those new to the financial system - to make informed decisions about saving, borrowing, and managing their finances effectively. Understanding how to leverage existing financial products and services can maximize the impact of financial inclusion efforts. The focus might need to shift from simply enabling basic transactions to "deepening" financial inclusion. This could involve expanding the reach of micro-investment options that allow more Kenyans to build wealth over time. In our recent report, we explore both the impressive strides made and the remaining challenges of financial inclusion in Africa; --> Data-driven insights: Sub-regional variations and country-specific financial inclusion landscapes. --> Success stories & roadblocks: Learn from what has worked (agent banking networks) and what hasn’t (restrictive regulations). --> Actionable recommendations: Discover how to deepen mobile money integration and champion regulatory reform for an inclusive future. This report explores this and more; from deepening mobile money integration to championing regulatory reform, that can solve the financial inclusion puzzle on the continent profitably. Click to download the full report: https://lnkd.in/dhvMBNdU #fintechafrica #PierrineReports #FINANCIALINCLUSION #FINTECH #AfricanFintech #AfricanFinance

As of 2022, Africa’s public debt reached a staggering $1.8 trillion, marking a 183% surge since 2010. China 🇨🇳 has been a significant player in Africa’s financing, providing more than $170 billion in loans between 2000 and 2022, according to Boston University’s Global China Initiative (GCI). With China stepping back from funding, new players like India and Turkey are taking the lead. This shift presents an opportunity for financial partnerships with these countries. Read more on Staywired. Swipe to read. 🔍 #staywired #financetopics

++ #Sweden Grants $4.8M to African Development Bank to Boost Capital Markets Integration Across Africa ++ The Government of Sweden will extend a grant of 50 million SEK (roughly $4.8 million) to the African Development Bank’s Capital Markets Development Trust Fund (CMDTF). The contribution, allocated through the Swedish International Development Cooperation (SIDA), reaffirms the country’s commitment to fostering sustainable development and regional integration of capital markets across Africa. "Sweden welcomes this initiative to build sustainable and catalytic markets and instruments with the potential to mobilise much-needed domestic and regional capital, long-term finance for public and private sectors as well as attracting crucial investments across the continent,” Lundquist said. “We are therefore delighted about this new strategic partnership with the African Development Bank, which will enhance the capability of the CMDTF to scale-up its geographical coverage and product offerings to African countries and relevant regional institutions." – Hans Lundquist, Ambassador to Ethiopia, Djibouti and South Sudan, Sweden "We are delighted to welcome the Government of Sweden as a valued partner in our mission, joining Luxembourg and the Netherlands in this endeavour. Sweden’s generous contribution will be directed toward key initiatives that will strengthen the infrastructure required to mobilise resources through regional and domestic capital markets. This partnership significantly enhances our capacity to implement impactful solutions that drive economic growth across Africa." – Ahmed Rashad ATTOUT, Director for Financial Sector Development, African Development Bank #techafricanews #africa #development #bank #capital #markets #Integration #infrastructure

Understanding Africa's financial inclusion journey can be a complex endeavour; one is immediately confronted with a mix of progressive strides as well as persistent challenges. The rise of mobile money for instance has been a game-changer, particularly in East Africa, but vast swathes of the continent still grapple with limited infrastructure and low financial literacy. Can we then state that Africa is making any progress in this regard? Or is the subject of Financial Inclusion merely another buzzword, synonymous with Africa? Our new report offers valuable insights to help you better understand the reality on the ground, as well as opportunities that can be explored in terms of making more financial services and products accessible to more Africans. Download the full report to gain a competitive advantage in Africa's evolving financial landscape! #FinancialInclusion #Africa #MobileMoney #MarketResearch Click the link below to download the report: https://lnkd.in/dxqhfzMi