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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Africa’s construction sector has been playing an increasing role in driving the continent’s economic growth in recent years. Africa is still a developing region and as such, there is a continuous need to address ...
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The year 2020 saw countries going into lockdown as a result of COVID-19. The telecom sector became an anchor for economic activities to continue as learners, workers and all non-essential operations needed to be conducted from home. ...
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Africa’s financial sector has undergone considerable growth for a decade in terms of depth, sophistication and regulation. However, the stages of financial development vary widely across countries and most have a long way to go to ...
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Africa holds 7.3% of the world’s natural gas reserves and 7.2% of its crude oil reserves as of end-2018, according to data published in the 2019 edition of BP’s Statistical Review of World Energy. The continent is home to some 125.3 Bbbl ...
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Africa’s telecommunications sector has been one of the most dynamic globally over the past decade, driven by mobile services in particular. Realising the importance of telecommunications for overall economic growth, governments across the ...
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Africa’s renewable energy sector has experienced robust expansion over the past decade, with installed capacity increasing at a CAGR of by 6.6% in 2010–2019, according to data provided by the International Renewable ...
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Mining in Africa has a long history stretching back over a century, and minerals play a vital role in economies across the continent. Mining and quarrying* (including oil and gas) constitutes over 10% of GDP in over 15 African economies, ...
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The transportation sector in Africa has high potential for growth. The world’s second largest continent accounts for 20% of the world’s land area and its fast-growing population reached 1.3bn in 2018, or 16.9% of the global population. ...
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A home to 7.5% of the world’s oil reserves and 7.1% of the global natural gas reserves, Africa is an important player in the hydrocarbon industry. The continent’s share in global oil production stood at 8.7% in 2017, slightly up from 8.4% ...
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Africa’s renewable energy sector experienced its strongest year in 2017, in line with the global trend. The cumulative end-year capacity of the sector expanded by 12.5% y/y to 42.7 GW, outpacing the global growth rate of 8.5% y/y, according to ...
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