La pandémie a créé un besoin urgent de plus de capital patient en Afrique. Les gouvernements de tout le continent étant confrontés à des contraintes budgétaires tout en reconnaissant l'importance des investissements dans les infrastructures et les services essentiels, le PE et le VC offrent une voie intéressante pour le soutien financier. La pandémie a également accéléré la numérisation…
On fuelling economic growth in Africa through insurance penetration In what ways did the Covid-19 pandemic impact the insurance sector in Africa? FARID CHEDID: Government measures to reduce the spread of Covid-19 such as national lockdowns have translated into slow economic growth, and in some cases recession. The performance of the insurance sector is traditionally closely linked to that of the…
The pandemic has created an urgent need for more patient capital in Africa. With governments across the continent facing budgetary constraints while recognising the importance of investment in essential infrastructure and services, private equity (PE) and venture capital (VC) offer an attractive avenue for financial support. Covid-19 has also accelerated digitalisation in key African markets, which…
Gabon’s economy has reached a critical juncture in 2016, with the drop in global oil prices having increased the need for and urgency of economic diversification, while reducing the availability of public financing to back the transformation. Under the now seven-year-old economic strategy, the Emerging Gabon Strategic Plan, the government has hastened efforts to expand the scope of economic activity,…
So much has happened over the past decade in the African markets we cover: Ghana discovered oil, Nigeria re-based its economy, Kenya developed mobile money, Côte d’Ivoire recovered from a civil war, Egypt underwent a peaceful revolution, and Morocco created an aeronautics industry. State assets were privatised, dictators were ousted, and new cities were built. Of course, there have been plenty…
Gabon’s banking sector is heavily concentrated – a trait of many of the continent’s financial service industries – with the only privately owned local player in an outsized role. However, African banking groups have been rapidly growing their market share. Pushed down by macroeconomic headwinds, lending fell and distressed debt levels rose in 2015, but the sector showed signs of recovery…
Interview:Séverin Anguilé How has the insurance sector in Gabon changed over the last five years? SÉVERIN ANGUILÉ: We have experienced significant changes in the last few years, especially with the advent of Article 13 of the Inter-African Conference on Insurance Markets’ Insurance Code. Customers must now pay insurance policies upfront, which allows companies to have stable cash inflows,…
Despite its small population, Gabon has a relatively large insurance market, thanks in part to its high per capita income. The industry contracted in 2015 on the back of the drop in oil prices, but the prospects for the sector’s long-term development, particularly the life and micro segments, are strong. Plans to raise mandatory capitalisation levels across the Inter-African Conference of Insurance…
Interview:Claude Ayo-Iguendha; Abdelaziz Yaaqoubi What has been the impact of exogenous pressures on the banking sector? CLAUDE AYO-IGUENDHA: Despite a 5-6% drop in outstanding credits, Gabon has handled external pressures better than other CEMAC countries. The drop in outstanding credits is not due to liquidity pressures, but instead due to a lack of interesting opportunities in the market.…
Gabon benefits from considerable hydrocarbons reserves, with the World Bank citing Gabon as the fifth-largest oil producer in Africa. Oil accounted for 70% of exports, 20% of GDP, and 40% of budget revenues in 2015. However, declining production and lower oil prices have seen economic growth slow. Diversifying the economy is therefore a priority for the Bongo Ondimba administration, as evidenced b