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The report examines the role of securitisation in developing African capital markets, noting that while South Africa has a mature market, other sub-Saharan regions remain nascent. It identifies significant barriers, including fragmented legal and tax frameworks, a lack of a 'ratings culture', and limited understanding among financial institutions. Despite these challenges, the study finds a substantial supply of securitisable assets in banking, microfinance, and fintech sectors. It recommends a holistic regulatory approach, the use of anchor investors from DFIs and MDBs, and the adoption of scalable structures like warehouse facilities to mobilise private capital and bridge the private credit gap.

FSD Africa is working to deepen African capital markets to reduce reliance on banks and external debt, leveraging an estimated $2 trillion in domestic assets. The organization employs a four-pronged strategy: policy and regulatory development, market infrastructure creation, product development (specifically GSSS bonds), and stakeholder convening. Key achievements include mobilising over $1.2 billion through 21 thematic bond transactions and establishing critical infrastructure like the Ethiopian Securities Exchange. Future priorities include carbon markets, sovereign debt management, and financing the energy transition.

The report finds that while there is interest in Green Bonds in the WAEMU region, the market is in a nascent stage due to underdeveloped financial infrastructure, a lack of government focus on climate regulatory frameworks, and limited technical capacity among stakeholders. It identifies energy, agriculture, and clean transportation as priority sectors and recommends sustained capacity building, the development of regional guidelines, and the use of technical assistance and risk-transfer instruments to attract investors.

The report details how COVID-19 disrupted artisanal and small-scale mining (ASM) through health risks, supply chain breaks, and reduced market access. While many governments maintained basic support, the pandemic exacerbated vulnerabilities for women and increased the risk of illicit mining due to weakened government monitoring.

The report details how COVID-19 negatively impacted artisanal and small-scale mining (ASM) through health crises, economic contraction, and disrupted supply chains. While many governments maintained basic support, the pandemic exacerbated existing vulnerabilities, increased illicit mining activities, and disproportionately affected women's livelihoods. The document argues that formalization of the sector is essential to reduce future vulnerability.

The report identifies significant long-term financing gaps in Côte d’Ivoire's infrastructure, housing, and SME sectors, driven by a reliance on short-term bank lending and government borrowing that crowds out the private sector. Key hurdles include the lack of registered real estate for collateral, inadequate PPP frameworks, and a fragmented regional capital market. The document recommends structural reforms to land titling, the diversification of institutional investor mandates, and the strengthening of the national PPP unit to mobilize domestic and private capital.

The workshop brought together officials and municipal representatives from WAEMU member states to analyze the implementation of mining local development funds (MLDFs) and other community development tools. Participants evaluated the current state of MLDFs in countries like Côte d’Ivoire, Burkina Faso, and Senegal, while discussing alternatives used in Mali, Niger, and Benin. The sessions explored the integration of MLDFs with environmental and social impact assessments (ESIAs), local content policies, corporate social responsibility (CSR), and community development agreements (CDAs). The workshop concluded that an ideal approach involves combining an MLDF with either mandatory CDAs or voluntary CSR plans, prioritizing transparency, alignment with local development plans, and outcome monitoring.

The report examines the 'gathering storm clouds' of political and economic uncertainty in the Central African Economic and Monetary Community (CEMAC) region. It argues that a combination of commodity price collapses, neo-patrimonial governance, and rapid population growth is creating a volatile environment. The analysis highlights a critical gap between population growth and the provision of basic services, alongside a history of 'pseudo-democratic' regimes that resist genuine political transition. The authors warn that without strategic diversification of economies and significant investment in human capital, the region's large youth population could become a catalyst for further instability and violence.

The report details a September 2017 training workshop for UEMOA officials focused on maximizing the socioeconomic benefits of the mining sector. Key modules covered global value chains, the development of legal frameworks for local content, employment and training, and the impact of increasing mechanization. The workshop emphasized that local content cannot be achieved by decree but requires integrated national and regional policies, inclusive stakeholder consultation, and the anticipation of technological shifts that may reduce low-skilled jobs. Recommendations include strengthening national local content policies, creating regional frameworks for training and processing facilities, and exercising caution when signing bilateral investment treaties that might limit a state's ability to impose performance requirements.

The report details a July 2017 training workshop for 32 UEMOA member state officials on mining economics, focusing on financial modelling, mineral resource rent sharing, and the analysis of feasibility studies. The program emphasized the importance of using dynamic financial models over static PDF tables to evaluate project profitability and negotiate fair tax regimes. Key discussions covered the risks of stabilization clauses, the potential for signature bonuses, and the shift in perspective toward determining a 'fair rate of return for the investor' as a basis for state revenue sharing.

The research paper investigates whether the South African Customs Union (SACU) is ready to transition from a Common Monetary Area (CMA) to a full monetary union. Using Southern African Development Community (SADC) convergence criteria, the authors find that while there is strong convergence in inflation, national debt, and reserve holdings, significant volatility and lack of discipline in fiscal deficits—particularly in Lesotho and Swaziland—remain a primary hurdle. The study suggests that a monetary union would be beneficial and that the South African Reserve Bank (SARB) could continue to lead monetary policy, provided fiscal coordination is improved.