Africa’s capital must stay home to plug its financing gap: how it could be done

By Misheck Mutize, Post Doctoral Researcher, Graduate School of Business (GSB), University of Cape Town

Africa is providing cheap liquidity to wealthy nations. In return it is paying huge interest rates to external institutional investors at the cost of its own development.

For instance, African central banks export their reserve funds for safekeeping. Sovereign wealth funds and pension fund managers invest only in investment-grade European and United States institutions. The most popular one is risk-free US treasuries,…

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