The enthusiasm about Africa’s status as the last investment frontier can be cooled by the thought that most of the capital is controlled outside the continent. The proverbial western hedge fund, it is feared, would soon pull out if investment from the proverbial Chinese oil company dried up.
But as global capital inflows proliferate, there are now signs that investment between African countries is growing.
Perhaps the purest example of this is the move by Kenya Commercial Bank to expand into the south of Sudan.
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