Africa: A continent of contrasts

Olivier Carrolaggi’s career, spanning three continents, gives him a singular vantage point on "Africa: A continent of contrasts,” where ancient conflicts and military coups coexist with intraregional economic development. New leaders are slowly introducing more democratic policies. Digitalisation supports innovation and financial inclusion, most important, access to education for the region’s growing youth population.

Key Takeaways:

• Intraregional trading relationships developed to manage COVID supply chain challenges and geopolitical disruption are positioning African countries for growth

• Rising interest rates make imports more expensive; efforts to reducing reliance on the euro and the US dollar

• Regional trade and currency unions spur more local producing and trade

• Increased digitalization offers access to financial infrastructure, and even more important: education for young and growing population

• Liberalization in monetary policies as some tensions ease

• Leaning toward democracy; new leaders educated abroad returning to Africa

• New investment from corporates in the region – taking a chance on the promise of growth

This episode is part of our BRICS and Mortars Trilogy.

The emerging markets include some of the world’s most diverse and vibrant economies, and also some of the most challenged. But challenge often begets innovation. In our three-part series, we sat down with the regional leads of Corpay Cross-Border’s Emerging Markets practice. What they had to say may enlighten you – and surprise you.

Check out the other episodes in the series here:

• Latin America: Bright spots amid challenges, with Jeff Angard, Head Trader, FXEM and regional lead for Latin America

• APAC: Innovation drives resilience, with Marky Ho, Regional Director, FXEM Asia Head

The opinions expressed on FX in Focus are those of the speakers only, and do not necessarily reflect the views of Corpay Inc.

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