If Africa is to change then key figures in Africa have to make it happen. This month, The Banker identifies eight of the major policymakers on the continent, their strategies for reform and their plans as architects of the renaissance. From South Africa’s Trevor Manuel to Congo’s Joseph Kabila, we look at the prospects, opportunities and challenges.
In Egypt, Karina Robinson interviews the new prime minister, Ahmed Nazif, and asks how he can make a difference, while in New Zealand, finance minister Michael Cullen talks about attracting foreign investment. And in our Viewpoint, Enrique Garcia, CEO of Corporación Andina de Fomento, argues that social consensus is critical in breathing new life into Latin American reform programmes.
In Capital Markets, we look at equity capital markets, in which US and European banks are fighting it out in an increasingly tough European environment, and where private equity proves to be an attractive alternative to the regulatory burdens of a public listing. Team of the month is Barclays Capital, which is proving its mettle in Russia with a debt deal for Vneshtorgbank, while in Agenda, Robert Gillespie, co-global head of investment banking at UBS, says that UBS still has plenty of room for growth in European M&A and in servicing private equity houses. In FX & Derivatives, we look at why some credit derivatives take off immediately and why some struggle to gain traction. In Cash & Securities Services and the competitive European custody market, we examine why outsourcing models must be profitable in the long term.
In Germany, a sea change has taken place in the economy that is not yet immediately visible but much-needed reforms are working and banks have started to reorganise themselves. In Greece, the economy appears to be experiencing a post-Olympics lull but Greek banks are fanning out into the region and looking closely at acquisitions in Serbia.
Going east, Turkey’s central bank governor discusses how the country has achieved single digit inflation. In the Ukraine, we examine the surge of foreign interest in local financial institutions following the election of Viktor Yushchenko as president – a boom in the making. And we include a special supplement on Romania, focusing on the blooming economy and growing foreign interest.
In the Americas, Uruguay is bouncing back from an economic downturn caused by its over-reliance on Argentina, and Mexico is fast developing its potentially huge credit card market.
In the Middle East, a special supplement by Stephen Timewell focuses on the emergence of the new Qatar Financial Centre, we look at Saudi Arabia’s growing project finance market and very profitable banks, and we review a recent seminar in London on Bahrain’s financial sector.
Elsewhere, we look at the growth in mobile phone services and effective IT procurement as well as providing a detailed review of covered bonds.
