After the great economic downturn of 2016, Africa’s economies are on the up again. The African Development Bank forecasts 4% growth in gross domestic product across the continent for 2019, with improvement expected across all four of its geographic regions.
The setbacks of 2016 prompted regulators to tighten regulations for financial institutions, aimed at strengthening good banks and encouraging consolidation among weaker lenders. The result is a smaller number of bigger banks with stronger credit profiles, according to Moody’s, making the sector fitter and more resilient going forward.
