Mozambique is experiencing a debt crisis as high public debt, weak growth and constrained financing conditions place increasing pressure on the economy. With delayed natural gas revenues, climate-related shocks and underdeveloped capital markets limiting fiscal flexibility, the country faces growing challenges in restoring stability while supporting long-term economic development. Read on p.13.

In this month’s issue, Hany Girishkumar of Africa Merchant Capital Advisory argues that the greatest risk in Africa today may not be investing, but failing to invest as the continent undergoes a profound economic transformation. She examines how outdated perceptions continue to overshadow Africa’s growth potential, despite expanding consumer markets, improving investment conditions and the emergence of new opportunities across infrastructure, private capital and regional integration (p.14-15).

In addition, Anne-Marie Chidzero of FSD Africa Investments examines how the Cape water performance-based bond could reshape the way financial markets value nature. She argues that linking investor returns directly to measurable environmental outcomes marks an important evolution in conservation finance and highlights Africa’s potential to lead in the development of scalable, nature-linked investment instruments. Read on p.16.

Finally, we examine why African listed equities may be entering a new growth cycle after years of depressed valuations. Executives at Imara Group argue that improving liquidity, strong corporate earnings and the continued expansion of financial inclusion are creating renewed momentum across African markets, with investors increasingly looking beyond short-term volatility toward long-term structural growth opportunities.on p.22.