How Africa Is Financing Its Future

Sub-Saharan Africa needs a lot of investment to support its development, but high funding costs are a constraint. We’ll explore the drivers of these costs and steps three of the region’s largest economies – South Africa, Nigeria and Kenya – are taking to reduce their cost of capital.  

Host: Colin Ellis, Head of Centre for Credit Research, Moody’s Ratings 

Guests: Christian Fang, Vice President - Senior Analyst, Moody’s Ratings; Mik Kabeya, Vice President - Senior Credit Officer, Moody’s Ratings 

Related research:  

• Credit Conditions – South Africa, Kenya and Nigeria – Policy, market constraints keep borrowing costs high 15 Sept 2025 
• Sovereigns – Sub-Saharan Africa – Outlook stable as solid growth, fiscal consolidation mitigate financing constraints 16 Sept 2025
• Banks – Africa – Evolving fundraising sources and high yields will help banks navigate cost of foreign currency 17 Sept 2025
• Sovereigns – Sub-Saharan Africa – Low revenue and domestic savings underlie high debt cost in Sub-Saharan Africa 02 May 2025