In this issue, Africa Global Funds examines whether Africa’s growing pools of domestic institutional capital can become a bigger source of funding for private markets. With pension and life assets exceeding $1 trillion, the article explores why allocations to private equity, private debt and infrastructure remain relatively small, and how local-currency vehicles, better fund structures and closer involvement of domestic investors in fund design could help unlock more of that capital. Read on p.16-17.

In this issue, SBM Bank (Mauritius) explores how the global shift toward shorter settlement cycles is changing Africa’s capital markets, outlining Nigeria’s move to T+1, the growing importance of institutional-grade custody and post-trade infrastructure, and what African markets must do to keep pace  as  global settlement standards and technology evolve. (p.10).

In this issue, Chris Chijiutomi, Managing Director and Head of Africa at British International Investment (BII), speaks with Africa Global Funds about the funding gap, how BII is widening its investment approach and what is needed to increase capital flows to Black-owned and led businesses. (p.13).

In addition, Pazani Vaitilingon, Head of Commercial, Mauritius at IQ-EQ, explores how private credit is evolving from a source of alternative financing into a more established part of Africa’s capital markets. Drawing on IQ-EQ’s recent Speaker Series, he highlights the role of flexible capital in addressing funding gaps, the importance of local knowledge and robust structuring, and how Mauritius can support the asset class as it scales (p.14).

Finally, we look at how independent asset managers are positioning themselves as consolidation reshapes Africa’s investment industry. As larger firms pursue scale to manage rising costs and competitive pressures, the article considers how smaller managers can compete through specialisation, differentiated strategies and local expertise, while still building the governance, infrastructure and distribution capabilities required by institutional investors. Read on p.22.