After years of debt distress, currency crises and investor flight triggered by the COVID-19 pandemic and rising global interest rates, several African economies are beginning to regain the attention of international investors.
Governments across the continent have implemented a range of reforms aimed at restoring confidence, improving fiscal credibility and stabilising financial markets.
The changes are helping attract fresh capital from sources including Gulf investors, export credit agencies, development finance institutions, hedge funds and asset managers.
The renewed interest comes at a critical time for Africa as many wealthy nations reduce foreign aid spending and redirect resources towards domestic priorities and defence, shrinking a traditional source of development financing for the continent.
According to Dalu Ajene, Chief Executive and Head of Coverage for Africa at Standard Chartered, investor sentiment towards Africa has improved markedly compared with the immediate post-pandemic years, when many economies were grappling with deteriorating balance sheets and mounting debt burdens.
