Alternative assets are the name of the game for Angola's sovereign wealth fund, as it steps in where local banks fear to tread.
Angola’s steady story of economic growth has been badly disrupted by the global collapse in oil prices. Can the 'ultimate petrostate' weather the storm?
Angola has big potential as a visitor destination, and as a sector, tourism could be a driver of non-oil growth and jobs. But high costs and red tape are deterring overseas visitors and the country needs to work harder to deliver on its ambitions.
The Angolan banking sector has been hit hard by the oil price slump, adding to concerns about systemic loan book weakness. However, a tough new asset quality review should improve matters, as should the expansion of the country's capital markets.
Angola's failure to diversify away from oil has led to faltering growth in what has been in recent years one of Africa's best-performing economies. Though the government is managing the crisis better than in previous years, the currency remains unstable and access to foreign currency is in short supply.
Hit hard by the global financial crisis and a stagnant domestic political scene, Kuwait is now emerging as a stable, pro-business destination with a buoyant private sector and an economy moving away from its reliance on oil, as James King discovers.
The governor of the Central Bank of Kuwait, Mohammad Al-Hashel, has every reason to look to the future with optimism, given that the country's banking sector is coping well with low oil prices, welcoming foreign entrants, bringing down its NPL ratio and helping diversify the country's economy.
Despite its small size, Kuwait has long been a key player within the global Islamic finance industry, and with its sharia-compliant institutions posting strong figures in 2014, this position only looks likely to strengthen.
Kuwait’s banks are slowly recovering from the global financial crisis and bankers are optimistic for 2015. However, issues remain, including high exposure to the real estate market, outstanding debt settlements and a funding shortfall for the country’s SMEs.
Global Risk Regulator
Most popular content
- The Banker Top 1000 World Banks 2015 ranking WORLD Press: IMMEDIATE RELEASE
- Basel III starts to dominate Top 1000 rankings
- The Banker Top 500 banking brands 2015 Global Press release: For immediate release
- The Banker Top 1000 World Banks 2015 ranking UK Press: IMMEDIATE RELEASE
- The top five banks in Japan