Nigeria's President Muhammadu Buhari successfully secured a second term at the helm of Africa's largest economy. Despite the controversial circumstances surrounding the run-up to the February poll, this was a convincing electoral result and provides a strong mandate for the president and his All Progressives Congress (APC) party to deliver on his electoral promises.
The East African banking sector has made significant strides in the past several years. From an industry that was once blamed for its exclusion to now being praised for its financial inclusion efforts thanks to mobile technologies, the sector has come a mighty long way. But almost in the same space of time, the sector has been experiencing a rather quiet evolution; namely consolidation. Thanks to a growing trend towards financial sector integration, increasing regional infrastructure spend and the desire to achieve economies of scale, banking capital injections in the form of mergers and acquisitions have become an increasing occurrence.
2018 has been an interesting year for Africa, with various events and trends becoming visible. 2016 saw the effects of the slowdown of China’s economic growth due to its rebalancing of its economy and the end of the commodity price super cycle. 2017 brought some relief. In Africa, 2018 demonstrated a number of continued trends, but also some new events.