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Africa Economic Research Highlights

Industrialisation is key to Africa's integration and future economic growth

Kojo Aduhene, CEO, LMI Holdings

In this Global Platform video Kojo Aduhene, CEO of LMI Holdings, emphasises the importance of industrialisation for the African continent, as well as the key role the private sector can play in...

Video: Agriculture in Africa 2022

This Growth & Recovery video highlights important aspects of the recently launched Agriculture in Africa 2022 Focus Report, recently published in partnership with OCP Group. It explores the role of...

Africa: Regional Economic Reports

Focus Report

Focus Report: Post-pandemic trends and opportunities on African stock exchanges

Although stock exchanges on the continent were affected by the Covid-19 pandemic, recovery is starting to take shape. The crisis underlined the need to build resilience and diversify the investor base. This Focus Report highlights the key trends and opportunities that have emerged in the financial sector, and showcases how market actors were able to support economies, investors and companies during the pandemic.

Focus Report

Focus Report: How can agriculture in Africa meet the challenges of the future?

While Africa has the potential to feed the world’s population in the coming years, in order to accomplish this, land must be developed sustainably by addressing pressing issues such as deforestation and inefficient agriculture practices. This focus report explores avenues to boost productivity through circular and green economy practices, such as water reuse and converting organic waste into productive inputs, alongside climate-smart interventions.

Focus Report

Focus Report: How are GRC trends evolving in West and Central Africa?

Business environments around the world are changing in response to new investor demands, moving towards tighter regulations and greater transparency. This Focus Report explores the current state of governance, risk-management and compliance (GRC) trends across West and Central Africa.

Focus Report

Report: Investment opportunities in West Africa's health sector

With over 391m inhabitants in 2019, West Africa is home to nearly 37% of the sub-Saharan population, but with the exception of South Africa, the subregion relies almost entirely on imports to meet its medical device needs, and local production remains relatively low. However, the paradigm shift brought about by the pandemic and expected growth of 3.5% in ECOWAS in 2021 bodes well for a revaluation of national health budgets and the need for medical devices.

Focus Report

Focus Report: How is Africa positioned as a destination for data centres?

With a large youth population and growing network penetration, Africa has demonstrated its ability to innovate and technologically leapfrog mature markets. Multiple data centre clusters have emerged in recent years, including in South Africa, Kenya, Ghana and Nigeria.

Focus Report

Focus Report: How can Africa's leading sugar producers increase output?

The African continent accounts for around 6% of global sugar output, half of which is concentrated in COMESA countries – a figure that is set to expand to 8% by 2029. While local production takes place on a relatively small scale, countries in the region are among the world’s largest net exporters. Looking ahead, the industry’s continued development will be supported by the Africa Continental Free Trade Area, which will help facilitate continental trade by reducing or eliminating tariff and non-tariff barriers.

Focus Report

Report: How can West Africa boost its textile and garment industry in a sustainable way?

While West Africa is one of the largest producers of cotton, it has the ability to process less than 2% of the crop locally; around 90% is exported to markets in Asia, where value is added through spinning and weaving. The industrialisation of West Africa is therefore essential for the region to fully capitalise on its resources, boost growth and create employment along the value chain.

Growth And Recovery Video

Video: Agriculture in Africa 2021

This Growth & Recovery Video highlights the important aspects of the recently launched Agriculture in Africa 2021: Focus Report, published in partnership with OCP Group. The video presents — with the use of graphical data — the region’s export potential, food security challenges and how the creation of the African Continental Free Trade Area (AfCFTA), and increasing modernisation of agricultural processes provides significant growth opportunities across the entire ecosystem.

Focus Report: Post-pandemic trends and opportunities on African stock exchanges
Focus Report: How can agriculture in Africa meet the challenges of the future?
Focus Report: How are GRC trends evolving in West and Central Africa?
Report: Investment opportunities in West Africa's health sector
Focus Report: How is Africa positioned as a destination for data centres?
Focus Report: How can Africa's leading sugar producers increase output?
Report: How can West Africa boost its textile and garment industry in a sustainable way?
Video: Agriculture in Africa 2021
 

Africa: The Report Highlights

Market Profile Video

Highlights from The Report: Nigeria 2022

Nigeria is the biggest economy in Africa and has one of the largest proven oil reserves in the continent according to the World Bank. The country has developed an investment-friendly business climate over two decades of civilian rule and in the nearly 60 years since independence, boosted by its oil and gas wealth, and the entrepreneurial spirit of its young population.

Market Profile Video

Highlights from The Report: Ghana 2022

Marking 10 years of Oxford Business Group’s coverage of the country, The Report: Ghana 2022 details how the West African nation navigated the Covid-19 pandemic crisis and has emerged in a position of comparative strength.

Market Profile Video

Agriculture, energy and infrastructure drive economic growth in Egypt

Oxford Business Group has launched The Report: Egypt 2022. With commentary from President Abdel Fattah El Sisi and key players across the public and private sectors, along with a sector-by-sector guide for investors, The Report provides insight into areas of the economy that are set to drive long-term growth. The Report highlights infrastructure, which is expanding under Egypt’s urban planning agenda and mega-project pipeline.

Highlights from The Report: Nigeria 2022
Highlights from The Report: Ghana 2022
Agriculture, energy and infrastructure drive economic growth in Egypt
 

Economic Reports: African nations

Growth And Recovery Video

Video: Botswana’s special economic zones offer investment opportunities

This Growth and Recovery Outlook video highlights Botswana’s efforts to meet the goals of its transformation agenda to become a high-income country by 2036. The country’s stable political climate – and favourable regulatory and financial framework – position it as an attractive investment destination.


Focus Report

Focus Report: Misurata Free Zone positions itself as a gateway to Africa

As a free zone operating outside of Libyan domestic trade legislation, Misurata Free Zone (MFZ) is seeking to leverage its competitive advantages – including complete exemption from national commercial registration obligations and 100% foreign ownership of MFZ-based companies – to establish itself as a gateway to Africa.


Focus Report

Focus Report: Ongoing efforts to strengthen Nigeria's health sector

Nigeria has made tangible progress on health indicators in recent years, although structural challenges remain. While the government will continue to play a central role in the pursuit of universal health care, there are opportunities for private sector participation to help achieve its ambitious goals.


Focus Report

Focus Report: New cities and mega-projects are driving growth in Egypt

During a time of heightened global macroeconomic uncertainty, progress on new cities and mega-projects has helped Egypt maintain positive economic growth during the pandemic. Demographic expansion has fuelled the need for infrastructure and urban expansion, creating significant demand for road, rail and utilities, as well as new housing and government facilities.


Focus Report

The Report: Mauritania’s strategies to attract foreign investment

While Mauritania has been hard hit by the Covid-19 crisis, it is charting a course to economic recovery and resilience. Leveraging its ample natural resources, Mauritania is working to add more value to traditional sectors such as mining, agriculture and fisheries, while also seeking new sources of revenue to achieve sustainable and inclusive growth and job creation, particularly for young people.


Growth And Recovery Video

Highlights from our Morocco Economic Recovery Report

Oxford Business Group has recently launched its “Morocco Economic Recovery Report”, produced in partnership with the Moroccan Agency for the Development of Investment and Exports (AMDIE). The study provides an overview of Morocco’s post-pandemic economy, presenting a summary of the measures implemented by the government as well as the initiatives of the private sector to stimulate business and in particular attract foreign direct investment.


Focus Report

Focus Report: Opportunities and challenges in Zimbabwe’s sugar industry

As one of the largest formal employers in Zimbabwe, the sugar industry’s growth potential is significant. Although challenges remain – including a lack of financing and mechanisation – this Focus Report explores recent efforts to strengthen local production capacity, research new varieties and pest-control strategies, improve irrigation and water efficiency, and expand farm machinery uptake.


Focus Report

Focus Report: How Benin is attracting investment through industrial transformation

Although Benin is known as a cotton producer and is actively working to boost value-added activities in the textiles and garments sector, the country has also been looking to increase its industrial footprint more broadly, leveraging large-scale projects to expand its energy and transport infrastructure and develop special economic zones (SEZs). Momentum for such projects stems from a June 2017 law outlining regulations for the creation, operation and maintenance of SEZs to boost Benin’s industrial capacity, attract foreign investment and capture more export revenue.


OBG Talks in Africa

Podcast

Rethinking the future of the agriculture sector through sustainability and modernisation

For many countries across Africa, agriculture remains one of the most important sectors of the economy. Agriculture accounts for 14% of total GDP in sub-Saharan Africa, and a majority of the continent’s population is employed in the sector.

Vidcast

Morocco is positioning itself as an exporter of medical devices in West Africa

Bernardo Bruzzone, Africa Regional Editor, Oxford Business Group (OBG), recently spoke with Naoufal Lahlou, CEO of Promamec. The topics covered during this discussion were centered around the role that Morocco plays in the development of the health sector in several West African countries. Among the topics that were discussed, the implementation of the African Continental Free Trade Area and government support measures were highlighted as two points that can contribute to the growth of Moroccan exports of medical devices to the region.

Vidcast

Focus on sustainability in African textile value chains

Andrew Jeffreys, CEO of Oxford Business Group, speaks with Gagan Gupta, CEO and Co-Founder of Arise, about the current focus on diversifying supply chains away from Asia and towards Africa through nearshoring. This forms part of Africa's broader goal of leveraging locally available raw materials to generate added value and improve the region's competitiveness.

Vidcast

Private Equity and Venture Capital’s role in Africa’s economic recovery scenario

Bernardo Bruzzone, Africa Regional Editor at Oxford Business Group (OBG), recently held a discussion with Alexis John Ahyee, Executive Director for West and Central Africa of HEC Paris, and with Nadia Kouassi Coulibaly, Head of Research of African Private Equity and Venture Capital Association (AVCA). The topics that were touched upon in this discussion included the evolution in recent years of Private Equity and Venture Capital in the African continent and the role of these mechanisms as a source of financing in the context of Africa’s economic recovery scenario.

Overview

Why the moment for investing in Africa is now?

On March 17th 2021, the webinar “Why Invest in Africa Now? - The Africa Advantage” event, organized by the Dubai Chamber of Commerce and Industry took place. Looking to increase awareness about FDI opportunities in Africa, especially targeting investors from the UAE, this webinar had among its speakers Bernardo Bruzzone, Oxford Business Group´s Regional Editor for Africa. M. Bruzzone made a presentation about Investing in Sub-Saharan Africa, highlighting opportunities in the Infrastructure, Renewable Energies, Agro-Industry and ICT sectors.

Vidcast

Algeria’s start-up ecosystem is evolving rapidly

Yacine Oualid, minister of the knowledge economy and start-ups for Algeria, answered questions from Oxford Business Group (OBG) in a video interview. He spoke about the evolution of the start-up ecosystem in Algeria and achievements during the newly created ministry’s first year in existence, reflecting the government’s ongoing commitment to boost and strengthen the sector.

Vidcast

Private Equity in Africa: funding the gap and stimulating the economy

The African PE industry has become increasingly complex and diverse, with the arrival of global institutional investors in recent years paving the way for some of the world’s largest firms to enter the market. Between 2014 and 2019 the total value of the 1053 PE deals reported in Africa reached $25.4bn. While deal volumes have maintained an upward trend, their value has gradually eased, suggesting growing investor interest but smaller deal sizes.

Podcast

Sustainability at the heart of African agriculture

Bernardo Bruzzone, Regional Editor for Africa at Oxford Business Group, speaks with Professor Bruno Gérard, Head of the Agrobiosciences department at Mohammed VI Polytechnic University (UM6P), about the opportunities and challenges present nowadays in the African agriculture sector. Africa has the potential to feed the world’s population in the coming years, however, there is room for more private investment to strengthen and modernise the sector in a continent where more than 70% of the population lives from agriculture.

Rethinking the future of the agriculture sector through sustainability and modernisation
Morocco is positioning itself as an exporter of medical devices in West Africa
Focus on sustainability in African textile value chains
Private Equity and Venture Capital’s role in Africa’s economic recovery scenario
Why the moment for investing in Africa is now?
Algeria’s start-up ecosystem is evolving rapidly
Private Equity in Africa: funding the gap and stimulating the economy
Sustainability at the heart of African agriculture
 

Africa's Thought Leaders

Economic View

Osama Ezzo, Managing Director, Nile Development & Investment

On the business environment for private equity after Covid-19

Economic View

Kayi Mivedor, Minister for Investment Promotion of Togo

On opportunities for investors as Togo streamlines business procedures and develops new infrastructure

Economic View

Henri-Claude Oyima, CEO, BGFIBank Group

On banks’ role in supporting industrial and infrastructure development in Africa

Economic View

Farid Chedid, Chairman and CEO, Ascoma Group

On fuelling economic growth in Africa through insurance penetration

Viewpoint

President Muhammadu Buhari

On supporting economic recovery with targeted investment in youth and infrastructure

Economic View

Christian Schindler, Director General, International Textile Manufacturers Federation

How West Africa can position itself as a leader in textiles and apparel

Osama Ezzo, Managing Director, Nile Development & Investment
Kayi Mivedor, Minister for Investment Promotion of Togo
Henri-Claude Oyima, CEO, BGFIBank Group
Farid Chedid, Chairman and CEO, Ascoma Group
President Muhammadu Buhari
Christian Schindler, Director General, International Textile Manufacturers Federation
 

Africa: Economic Research

Economic Update

Africa: Year in Review 2022

Although economies in Africa faced uncertainty in 2022 as economic and global shocks weighed on post-Covid-19 pandemic recovery, intraregional trade and climate finance initiatives are helping to chart a course towards more sustainable development. Mirroring global trends, growth across the region is expected to slow from 4.7% in 2021 to 3.6% in 2022, according to the IMF’s regional economic outlook for sub-Saharan Africa.


Economic Update

Côte d’Ivoire’s post-pandemic investment strategy

Key reforms are lowering barriers to foreign direct investment (FDI) and improving the ease of doing business in Côte d’Ivoire as the country looks to rebound from the Covid-19 pandemic. The government aims to increase foreign and private investment to 72% of the total and process at least 50% of raw export commodities domestically by 2030.


Market Profile Video

Côte d'Ivoire’s Investment Promotion Centre enables investment opportunities

Oxford Business Group has now launched The Report: Côte d'Ivoire 2022. This Market Profile video highlights Côte d'Ivoire’s transition to one of the most dynamic economies in the ECOWAS. Thanks to its stable political environment, recent regulatory and financial reforms, and ongoing infrastructure development, the country is attracting domestic and global interest in sectors such as banking, telecommunications, energy, real estate and mining.


Economic Update

The competitive outlook for artificial intelligence in MENA

As part of ongoing efforts to diversify their economies and build a platform for sustainable future growth, MENA nations are increasingly turning towards artificial intelligence (AI). A slew of recent investment and initiatives – primarily in academia and the government, but also in the private sector – has reinvigorated interest from industry leaders around the globe in the potential for AI to strengthen the efficiency and sustainability of MENA economies.


Economic Update

SEZs: Botswana’s strategy for investment, exports and diversification

As Botswana embarks on an economic transformation plan to help the country rebound from the Covid-19 pandemic, special economic zones (SEZs) are emerging as a key policy priority. The country’s economic plans in recent years have increasingly included plans to develop SEZs, beginning in 2015 with the establishment of the Special Economic Zones Authority (SEZA), a government body tasked with developing SEZs.


Economic Update

Nigeria targets agro-processing as a future growth driver

As Nigeria looks to restructure its economy to be more diversified and sustainable, agro-processing is emerging as a key tool to improve agricultural value added while also bolstering the sector’s status as a driver of economic growth. As in many African countries, agriculture has long been an important part of Nigeria’s economy – not only in terms of food production, but also in terms of its economic impact and contribution to the overall workforce.


Economic Update

Are e-money taxes an effective solution for African nations seeking to expand their fiscal reach?

A number of sub-Saharan African countries have sought to introduce taxes on electronic transactions, in response to a sustained uptake prompted by the pandemic. While such moves have been met with criticism, they represent an opportunity to significantly boost tax revenue.


Economic Update

How are MENA nations moving to bolster food security?

Nations in the MENA region have been intensifying efforts to increase their food security, with Russia’s invasion of Ukraine the most recent geopolitical event to underline the fragility of global supply chains, as well as the importance of agricultural self-sufficiency. Together, Russia and Ukraine account for around 29% of the world’s wheat supply, pointing to the significant risk – in terms of both availability and price – to major grain-importing countries as a result of the escalating conflict.


Economic Update

China-Africa cooperation: will bilateral trade make up for the fall in state-backed investment?

Despite global supply chain challenges, trade between China and Africa rose to record levels in 2021. The increase partially reflects a shift in Chinese policy away from state-backed investments and towards trade and cooperation.


Powering Africa: Green energy opportunities in a rapidly growing region

In this Growth & Recovery video, powered by technical solutions provider and engineering firm JESA, we explore opportunities to leverage investment and expertise to develop critical power...

ESG CEO Survey: Is the board room getting greener?

Across government departments, corporate board rooms and management meetings, the implementation of environmental, social and governance (ESG) strategies is at the forefront of current...

ESG Research & Views - Africa and beyond

Economic View

Issa Fadiga, CEO, Banque Populaire de Côte d'Ivoire

The primary and secondary sectors will largely drive the Ivorian economy in the coming years. Some of the government’s development objectives include adding value to these sectors, addressing broader human resources issues and improving corporate governance. The human capital and governance aspects are important to include in this broader strategy, as ensuring coordination between private and public sector efforts is crucial to long-term growth. In the case of the agriculture sector, many small-scale...


Economic Update

Creative climate finance in Africa

While uncertainty abounds in global energy markets amid Russia’s ongoing invasion of Ukraine, African leaders are increasingly looking to the private sector to finance investment in clean energy ahead of the COP27 UN Conference on Climate Change, to be held in Sharm El Sheikh, Egypt in November 2022. The COP27 agenda will consider more than 140 projects in Africa, 19 of which are considered ready for implementation and investment, including four in Egypt that carry an estimated cost of $17.4bn but need additional private sector funding.


Economic Update

Can agricultural insurance help guarantee post-pandemic food security?

In a world in which radical climatic events are increasingly affecting farm production, agricultural insurance is coming to be seen as a key solution for producers to bolster economic and food security. The global agriculture industry suffered significantly as a result of Covid-19. Lockdown measures implemented to stop the spread of the virus led to severe labour shortages, with crops often left to rot in fields, while disruptions to local and international supply chains meant that many goods simply never made it to market.


Economic Update

Will Belize’s debt-for-nature swap trigger a blue finance revolution in emerging markets?

With the issuance of green bonds reaching all-time highs, blue bonds and debt-for-nature agreements are also emerging as potential financing tools for emerging markets. In one of the more innovative developments of recent times, in September the government of Belize launched a debt-for-nature swap to restructure its sole sovereign bond.


Economic Update

How are emerging markets helping to slash global methane emissions?

With world leaders meeting this week at the UN Climate Change Conference (COP26) in Glasgow, a number of emerging markets have demonstrated their willingness to work with international partners on the matter of reducing methane emissions. US President Joe Biden’s final speech in the context of the summit focused on methane emissions, and specifically the Global Methane Pledge.


Economic News

Is sustainability the key to unlocking Togo’s textile industry potential?

With Togo moving to position itself as a regional leader in terms of textile production, the country is increasing its focus on sustainability and digitalisation as it seeks to maximise value across the supply chain. As OBG has recently explored, the global textiles industry is one of the major contributors to climate change: with pre-pandemic annual emissions of 1.2bn tonnes, it is the second-largest industrial polluter, second only to the oil and gas industry.


ESG Intelligence Reports: Africa and beyond

ESG Intelligence

Report: The road to a zero-emission automotive industry in the Middle East and Africa

Automotive stakeholders are increasingly aware that the business-as-usual scenario that has sustained the industry for more than 100 years is no longer tenable. Regulatory changes and emissions-reduction targets at the national and global level are spurring a pivot to low-carbon and zero-emissions vehicles.

ESG Intelligence

Report: How can sustainable finance support the transformation of hydrocarbons-dependent economies?

With the world economy heading into a complex post-pandemic recovery, GCC governments have outlined a wide-ranging set of environmental targets – and shone a stronger spotlight on sustainability. At a time when sustainable finance is reaching maturity in more developed markets, regulators and financial services providers across emerging markets are working to adapt environmental, social and governance (ESG) principles to the local economic, social and cultural context.

ESG Intelligence

Report: How can Saudi Arabia finance sustainable industrial development?

Guided by the Vision 2030 strategy for diversification, rapid advancements are being made in Saudi industry, mining, logistics and renewable energy. As the Kingdom works towards reaching net-zero carbon emissions by 2060, corporations and supporting bodies such as the Saudi Industrial Development Fund are taking actions to reduce their carbon footprints and adopt clear environmental, social and governance (ESG) policies to ensure future expansion is sustainable and inclusive.

ESG Intelligence

Report: How Qatar is confronting environmental and social challenges

With the publication of its National Environment and Climate Change Strategy in 2021, Qatar has recognised that a proactive and holistic approach is needed to meet the challenge of global warming and environmental degradation. The adoption of circular economy principles is central to its goal of achieving a more sustainable economic model, with waste materials from production and distribution across a broad range of activities being collected, treated and recycled back into the value chain as cleanly as possible.

ESG Intelligence

ESG and Indonesia: Which factors will drive growth?

Indonesia’s commitment to environmental, social and governance (ESG) principles is clear from its 2022 G20 Presidency focus on sustainability and environmental leadership, with topics likely to include digitalisation and sustainable finance. The recent UN COP26 conference, meanwhile, has further solidified climate sustainability as an urgent concern for the coming decade – for Indonesia as well as the world.

ESG Intelligence

Report: The financial sector's central role in tackling ESG issues in Mexico

Environmental, social and governance issues are a growing focus in Mexico, particularly social inclusion and transparency, followed by other governance and environmental matters. The financial sector has taken a leadership role in this space by pursuing voluntary initiatives to bolster anti-corruption efforts and encourage the adoption of ethics codes in the sectors in which it operates.

ESG Intelligence

ESG Report: How technological advances and sustainability practices are transforming Peru's economy

The mining, agriculture and financial services sectors are essential pillars of GDP, and are fundamental to Peru's socio-economic development and exports. While the Covid-19 pandemic severely impacted the economy – which suffered one of the largest contractions in Latin America in 2020 – growth forecasts for the next three years place it at the forefront of the region.

Report: The road to a zero-emission automotive industry in the Middle East and Africa
Report: How can sustainable finance support the transformation of hydrocarbons-dependent economies?
Report: How can Saudi Arabia finance sustainable industrial development?
Report: How Qatar is confronting environmental and social challenges
ESG and Indonesia: Which factors will drive growth?
Report: The financial sector's central role in tackling ESG issues in Mexico
ESG Report: How technological advances and sustainability practices are transforming Peru's economy
 
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