Business Elites Africa Magazinen -Issue 126

To those of you reading us for the first time, welcome!

The Covid-19 pandemic and the lingering effect of the Ukraine war have left major world economies scrambling for economic refuge. Major African economies are now retooling and seeking ways to manage the increasing cost of basic goods and services. The increasing and unmanageable debt problems have become a cause for alarm.

According to Mr Elhiraika of the United Nations Economic Commission for Africa, “The COVID-19 pandemic and the Russia-Ukraine war have negatively affected the fiscal performance of African countries, where the debt-to-GDP ratio has increased from 57% in 2019 and by 2021 it was to 66% in 2022.”

Hence, the financial stability risks of major countries in Africa have increased rapidly over the last few years; as higher inflation numbers, political and fragmentation risks pose a key threat. Despite these emerging risks and conditions of instability across the continent, we remain a “prisoner of hope” for a better future for Africa.

In contrast to these prevailing conditions, the continent of Africa has not faltered in breeding bright minds that see opportunities in the ailing economic outlook. Contained within the pages of this edition of Business Elites Africa titled “The Making of Africa’s Finance Masters” are profiles of Africa’s finest.
These men and women have held centre stage for years in redefining Africa’s financial industry. We prefer to refer to these gems as African finest! Their profiles unveil aptitude and grit.

Also contained in the pages of this edition are engaging articles and business tips that are incisive and actionable.

Happy reading!