22-08-17-cmir.v2_ak_compressed-6e9541dae869b3ab.pdf

The Capital Markets Impact Report by FSD Africa details the organization's efforts to develop African capital markets to address financing gaps in infrastructure, housing, and climate resilience. The report outlines FSD Africa's strategic shift toward five priority countries—Ethiopia, Ghana, Kenya, Morocco, and Nigeria—while maintaining a regional footprint. It highlights the use of technical assistance, grants, and direct investments to foster green and gender bonds, improve regulatory frameworks, and enhance market infrastructure to reduce dependency on bank-dominated financial sectors.

• Africa faces substantial long-term financing gaps, with Sustainable Development Goals (SDGs) requiring at least US$600 billion annually and infrastructure needs reaching up to US$170 billion per year.
• Climate change presents a US$3 trillion investment opportunity in Africa by 2030, with 75% of that investment expected to come from the private sector.
• FSD Africa has supported the raising of approximately GBP 320 million through bond issuances, including the first African green bond (Nigeria's first tranche sovereign bond in 2017) and the first gender bond in Africa (BCP Morocco in 2021).
• The organization's green bond programming has catalysed significant capital and job creation: US$146.33 million and 5,265 full-time equivalent jobs in Nigeria, and US$80.58 million and 2,718 full-time equivalent jobs in Kenya.
• FSD Africa's Africa Regulatory Support Programme (ARSP), with a budget of US$4.1 million, focuses on improving regulatory systems in Nigeria, Kenya, Ghana, Rwanda, Zambia, Zimbabwe, and the WAEMU region to attract investment.
• The African Local Currency Bond Fund (ALCB Fund), which received a US$21.81 million investment from FSD Africa, has deployed US$170 million across 17 countries and 59 investments, achieving a co-investment multiple of 9.1x.
• The Frontclear Interbank Credit Guarantee Fund has provided US$663 million in guarantees, leading to a US$563 million increase in interbank lending and the mobilisation of US$1,048 million in private capital.
• FSD Africa has categorized African markets into four types to tailor its approach: Ethiopia as a 'Frontier Capital Market'; Ghana, Kenya, and Nigeria as 'Emerging Capital Markets'; Morocco as a 'Maturing Capital Market'; and South Africa as a 'Regional Capital Market Leader'.
• For the 2020-25 period, FSD Africa is concentrating 75% of its team's footprint on five priority countries: Ethiopia, Ghana, Kenya, Morocco, and Nigeria.
• The Long-Term Finance (LTF) scoreboard, launched in July 2021, covers 44 African countries using indicators that were previously unavailable in global databases.

APA

FSD Africa (2022). 22-08-17-cmir.v2_ak_compressed-6e9541dae869b3ab.pdf. https://fsdafrica.org/wp-content/uploads/2025/05/22-08-17-CMIR.v2_AK_compressed.pdf

Chicago

FSD Africa. 22-08-17-cmir.v2_ak_compressed-6e9541dae869b3ab.pdf. 2022. https://fsdafrica.org/wp-content/uploads/2025/05/22-08-17-CMIR.v2_AK_compressed.pdf.

Wikipedia

{{cite report |author=FSD Africa |title=22-08-17-cmir.v2_ak_compressed-6e9541dae869b3ab.pdf |date=August 2022 |url=https://fsdafrica.org/wp-content/uploads/2025/05/22-08-17-CMIR.v2_AK_compressed.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fsdafrica2022220817cmirv2akcompressed6e9541dae869b3abpdf, author = {{FSD Africa}}, title = {{22-08-17-cmir.v2\_ak\_compressed-6e9541dae869b3ab.pdf}}, institution = {FSD Africa}, year = {2022}, month = aug, url = {https://fsdafrica.org/wp-content/uploads/2025/05/22-08-17-CMIR.v2_AK_compressed.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }