Euromoney Africa September 2017: Contents

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ON THE COVER

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African banks grasp the global retreat

Barclays’ exit from the continent shows how banks based in developed countries are either unable or unwilling to support growth in emerging markets. But for institutions with a focus on Africa, the departure of such international rivals makes banking in the region look even more attractive.  

    
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Ramos leads Barclays Africa into a new era

Barclays’ ownership has hobbled some of its biggest businesses in Africa. Now Maria Ramos, chief executive of the Johannesburg-listed successor company that makes up the bulk of Barclays Africa, tells Euromoney Africa about the challenges she faces in extricating Absa and the rest of the network from the London-based group. 


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Bob Diamond is back on the offensive

After a characteristically bold attempt last year to acquire Barclays Africa, a firm which he was instrumental in developing, Bob Diamond is even more determined to build his own pan-African bank at Atlas Mara. The London-listed African banking platform he co-founded four years ago has had its setbacks, but thanks to new funding and a bigger stake in its flagship Nigerian investment, another former Barclays asset, Diamond sees plenty of opportunities ahead. 

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Ecobank's Ade Ayeyemi: 'I believe a pan-African institution is good for the continent'

In a sweeping interview with Euromoney Africa, Ecobank’s CEO makes the case for pan-African banking and says technological innovation will finally make that business model thrive.




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ALSO IN THIS ISSUE


Capital markets: Sub-Saharan Eurobonds hold up under pressure

Following Mozambique's default, is it time to reassess which other African Eurobond issuers might follow suit – and what options are open to issuers – given deteriorating finances and rising global interest rates?

Zambia: Kalyalya looks beyond the copper crisis

As Denny Kalyalya’s first term as Zambia’s central bank governor draws to a close, he reflects on the need for IMF support, the currency and debt crisis that engulfed the country two years ago and his efforts to deliver a recovery for the long term.

Kigali's banks seek a wider role in East Africa

Rwanda is one of the most competitive economies in Africa, thanks to reforms and an open-door approach to foreign investment. Its banking landscape has been transformed and bankers are keen to turn Kigali into a financial centre serving the region, though they admit it has a long way to go.

A Mauritian bank sets its sights on the continent

State Bank of Mauritius aims to start a pan-African bank from scratch, as its home country turns its economy towards the continent. Little has been achieved to date, but SBM’s chairman is focused and confident.

African private equity managers ride out the storm

Currency devaluations and swings in commodity prices have taken their toll on many a private equity investment in Africa in recent years, particularly for those who invested at the height of the Africa bull market between 2005 and 2013. These days, sponsors are picking their targets carefully, with a focus on domestic consumers and non-commodity exporters.

Egypt seeks financial inclusion with a digital revolution

It’s goodbye cash, hello mobile wallets and digital payments, as Egypt uses financial technology to streamline payroll, keep money in the financial system and improve tax collection.





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Welcome to Euromoney Africa

It is almost 50 years since Euromoney was born with the wholesale international capital markets, to chronicle their evolution and that of the institutions that serve them. Today, the growth of banking and finance is now arguably at its most exciting, most important – and least exposed – in Africa.