Monday, October 28, 2013

Sukuk market to develop Africa

Traditional financings and dependence on commodity-fueled budgets will no longer cut it for the world's most rapidly growing frontier market. The world bank stipulates that ~US$93 billion will be required annually to meet Africa's infrastructure needs until 2020. That's just over US$650 billion dollars.

Sukuk issuances will play a big role going forward.

Nigeria and South Africa are at the forefront of financial reform in this regard.

Attached is a great article from Islamic Finance laying out the framework and developments: "Meeting Africa's infrastructure needs"

Click here to view article PDF!

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