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Banking and the Financial Sector

In: Africans Investing in Africa

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  • Lite J. Nartey

Abstract

Investment in Africa’s financial sector has the ability to transform the lives of individual Africans by greatly enhancing access to financial resources and opportunities and increasing economic development across the continent. Indeed, ‘banking is not one sector in a vibrant economy: it is the foundation upon which most other sectors are built’.1 However, as the global financial industry moves towards convergence in terms of regulations and practices facilitating investment across countries, across the African continent the ease of investment is less realised. Only 12 per cent of total trade and investment on the African continent is between African countries.2

Suggested Citation

  • Lite J. Nartey, 2015. "Banking and the Financial Sector," Palgrave Macmillan Books, in: Terence McNamee & Mark Pearson & Wiebe Boer (ed.), Africans Investing in Africa, chapter 7, pages 103-123, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-54280-9_8
    DOI: 10.1057/9781137542809_8
    as

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