Changing the narrative on Africa.
African banks are sustaining some of the highest returns in global finance as rising profitability spreads across major markets. The gains reflect deeper financial penetration but increasingly point to a system that must now convert earnings strength into long-term efficiency, digital scale, and broader credit access.
African capital markets are moving beyond market formation into a phase defined by deeper liquidity, stronger institutions, and improved market infrastructure. Recent reforms across exchanges, regulators, and development institutions point to systems increasingly capable of mobilizing and allocating domestic capital at scale.
M-KOPA’s expansion in Ghana highlights how device financing is evolving into bundled ecosystems that combine payments, protection, and financial products into a single repayment structure.
In Kigali, the tone of the conversations has fundamentally shifted. In the hallways of the Kigali Convention Centre, moving among heads of state, investors, entrepreneurs, and executives from across the continent, one dominant message shaped the 2026 edition of the Africa CEO Forum: Africa can no longer afford to think small.
Ghana, Rwanda, and Zambia have launched a pilot digital trade corridor aimed at enabling instant cross-border payments and reducing reliance on dollar-mediated settlement systems. The initiative integrates payment rails, digital identity, and regulatory frameworks under the African Continental Free Trade Area and the Pan-African Payment and Settlement System (PAPSS).
Botswana is accelerating efforts to reduce its dependence on diamonds as global demand weakens and synthetic alternatives reshape the market. The country is expanding partnerships, sovereign investment tools, and regional integration strategies to build new sources of growth.
East Africa’s private capital market is entering a more structured phase, with debt, exits and real-economy sectors increasingly shaping how capital is deployed. Venture funding still plays a role, but investors are leaning more toward cash-flow-backed deals and structured instruments.
Africa is reworking how cash is accessed, with banks upgrading ATMs while shifting everyday transactions into retail networks. The move reflects rising costs, security risks, and changing customer behaviour, forcing banks to rethink how physical cash is distributed.
Aliko Dangote’s industrial push is a leading example of how African capital can finance and build large-scale industrial systems. From Nigeria’s shift to net fuel exports in 2026 to plans for petrochemical expansion and a pan-African listing, his refinery is reshaping ownership, financing, and value capture.
Rent-to-own housing is gaining traction as African cities respond to limited mortgage access and rising demand. The model allows households to build equity through monthly payments, creating a gradual path to ownership. Governments and developers in markets such as Rwanda, Kenya, and South Africa are already piloting it.