Financial Sector Development In Sub Saharan African Countries

Author : Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe
Publisher : International Monetary Fund
Page : 79 pages
File Size : 45,9 Mb
Release : 2016-09-14
Category : Business & Economics
ISBN : 9781475532401

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Financial Development in Sub-Saharan Africa by Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe Pdf

This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.

Author : Thorsten Beck,Samuel Munzele Maimbo
Publisher : World Bank Publications
Page : 255 pages
File Size : 54,9 Mb
Release : 2012-11-27
Category : Business & Economics
ISBN : 9780821396285

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Financial Sector Development in Africa by Thorsten Beck,Samuel Munzele Maimbo Pdf

This edited volume contains eight studies of financial sector challenges in Africa that served as background studies for Financing Africa: Through the Crisis and Beyond. One of the major challenges for African financial systems is to expand financial services to a larger share of the population. The chapters in this area cover microfinance in Africa, the role of technology, reforms of payment infrastructure, and financing agriculture. Two chapters cover challenges in increasing long-term finance; one covers housing finance and the other the role of sovereign wealth fund. The book also contains a detailed discussion of bank regulation and supervision, especially in light of the current regulatory reforms in Europe and North America. The final chapter provides a political economy perspective, discussing the conditions for activist government policies in the financial sector.

Author : Mr.Peter C. Hayward,Mr.George Iden,Mr.Tonny Lybek,Mr.Hassanali Mehran,Mr.Stephen Swaray,Mr.Piero Ugolini,Jean-Pierre Briffaut
Publisher : International Monetary Fund
Page : 126 pages
File Size : 48,7 Mb
Release : 1998-10-01
Category : Business & Economics
ISBN : 1557757585

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Financial Sector Development in Sub-Saharan African Countries by Mr.Peter C. Hayward,Mr.George Iden,Mr.Tonny Lybek,Mr.Hassanali Mehran,Mr.Stephen Swaray,Mr.Piero Ugolini,Jean-Pierre Briffaut Pdf

This study takes stock of progress made so far in the financial sectors of sub-saharan African countries. It recommends further reforms and specific measures in the areas of supervision, development of monetary operations and financial markets, external sector liberalization, central bank autonomy and accountability, payments system, and central bank accounting and auditing.

Author : Mr.Enrique Gelbard,Mr.Sérgio Pereira. Leite
Publisher : International Monetary Fund
Page : 29 pages
File Size : 41,8 Mb
Release : 1999-08-01
Category : Business & Economics
ISBN : 9781451852806

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Measuring Financial Development in Sub-Saharan Africa by Mr.Enrique Gelbard,Mr.Sérgio Pereira. Leite Pdf

This study introduces an index for measuring financial development and a set of six indices representing key characteristics of the financial systems in 38 sub-Saharan African countries. The results show that these countries have made good progress in improving and modernizing their financial systems during the last decade, particularly with regard to financial liberalization and the adoption of indirect instruments of monetary policy. In many countries, however, the range of financial products remains extremely limited, interest rate spreads are wide, capital adequacy ratios are insufficient, judicial loan recovery is a problem, and the share of nonperforming loans is large.

Author : Ms.Catherine A. Pattillo,Ms.Anne Marie Gulde,Mr.Kevin Joseph Carey,Ms.Smita Wagh,Mr.Jakob Christensen
Publisher : International Monetary Fund
Page : 62 pages
File Size : 44,8 Mb
Release : 2006-08-28
Category : Business & Economics
ISBN : 1589065654

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Sub-Saharan Africa by Ms.Catherine A. Pattillo,Ms.Anne Marie Gulde,Mr.Kevin Joseph Carey,Ms.Smita Wagh,Mr.Jakob Christensen Pdf

Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.

Author : George C. Anayiotos,Hovhannes Toroyan
Publisher : International Monetary Fund
Page : 27 pages
File Size : 42,8 Mb
Release : 2009-11-01
Category : Business & Economics
ISBN : 9781451874044

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Institutional Factors and Financial Sector Development by George C. Anayiotos,Hovhannes Toroyan Pdf

The paper assesses the effects of certain institutional factors on financial sector development in Sub- Saharan Africa (SSA). Data Envelopment Analysis (DEA) is applied to determine the extent to which these institutions affect the financial sector, and to suggest which institutions play a more critical role in each country. Results suggest that institutional factors affect financial depth and access to financial services more than asset quality and profitability (measured by nonperforming loans (NPL) and return on equity (ROE). The results also suggest that depth of credit information has the strongest influence on the NPL ratio, and political stability affects access the most. Based on model findings, policy implications on prioritizing institutional reforms to enhance financial sector development are suggested for individual countries and for country groups.

Author : Sandrine Kablan
Publisher : International Monetary Fund
Page : 27 pages
File Size : 43,7 Mb
Release : 2010-06-01
Category : Business & Economics
ISBN : 9781455201198

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Banking Efficiency and Financial Development in Sub-Saharan Africa by Sandrine Kablan Pdf

This study assesses the determinants of banking system efficiency in sub-Saharan Africa (SSA) and asks what, besides the degree of efficiency, explains the low level of financial development in the region. It uses stochastic frontier analysis to measure efficiency and a generalized method of moments system to explain financial development. SSA banks are found to be generally cost-efficient, but nonperforming loans undermine efficiency, which suggests that improvement in the regulatory and credit environments should improve efficiency. The political and the economic environment have held back financial development in SSA.

Author : Dana T. Redford
Publisher : Emerald Group Publishing
Page : 312 pages
File Size : 44,7 Mb
Release : 2017-05-11
Category : Business & Economics
ISBN : 9781787146365

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Developing Africa’s Financial Services by Dana T. Redford Pdf

Financial services are an essential element in powering entrepreneurial activity beyond resource extraction in Africa. This book examines the macro-trends and highlights inspiring success stories of entrepreneurial financial sector ventures that are making a lasting contribution to the economic development of various sub-Saharan African countries.

Author : Paula Mitchell
Publisher : Unknown
Page : 84 pages
File Size : 54,8 Mb
Release : 2001
Category : Business & Economics
ISBN : MINN:31951D02013935Z

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Africa by Paula Mitchell Pdf

Author : Marc Quintyn,Genevieve Verdier
Publisher : INTERNATIONAL MONETARY FUND
Page : 352 pages
File Size : 40,6 Mb
Release : 2010-01-14
Category : Business & Economics
ISBN : STANFORD:36105215298733

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African Finance in the 21st Century by Marc Quintyn,Genevieve Verdier Pdf

Financial sector development in sub-Saharan Africa continues to lag behind the rest of the world, despite some recent positive achievements. There is a growing consensus that financial development fosters economic growth, so why has more not been done to spur financial advancement in Africa? This book is one of the few that tackles the debate of financial development in Africa head on. It stems from the proceedings of a high-level conference organized by the IMF Institute with contributions by experts from official agencies in Africa, international financial institutions, the private sector, and academia. The book begins by presenting the reader with compelling theoretical perspectives on the determinants of financial growth, empirical analyses of the impediments to financial growth and overviews of developments in individual sectors. It discusses policy issues related to financial sector stability, regulation and supervision. The final part investigates how specific measures can create room for financial growth, even when the broader institutional framework remains weak. Case studies demonstrate how individual countries have tried to stimulate financial development, or how specific measures, such as the establishment of credit reporting systems, can generate a positive impact on financial growth. Everyone interested or involved in deepening finance in Africa will find information and inspiration in this insightfull collection of papers.

Author : Samuel Munzele Maimbo,Issa Faye,Thouraya Triki
Publisher : World Bank Publications
Page : 325 pages
File Size : 47,8 Mb
Release : 2011-09-07
Category : Business & Economics
ISBN : 9780821387979

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Financing Africa by Samuel Munzele Maimbo,Issa Faye,Thouraya Triki Pdf

Financing Africa takes stock of Africa's financial systems in light of recent changes in the global financial system --including the greater risk aversion of international investors, a shift in economic and financial powers towards emerging markets and the regulatory reform debate - and the increasing role of technology. Using a wider and more detailed array of data than previous publications, we observe a trend towards financial deepening, more stability and more inclusion leading up to the crisis; serious challenges, however, continue, including limited access to financial services, focus on short-term contracts and hidden fragility, related to weak regulatory frameworks, undue government interference and governance deficiencies. Our policy analysis therefore focuses on (i) expanding outreach, (ii) fostering long-term finance and (iii) improving regulation and supervision. We identify the positive role of innovation and competition, a stronger focus on non-traditional financial service providers, and more emphasis on demand-side constraints as priority areas for policy actions. Specifically, competition from new players outside the banking system, including telecomm companies can increase outreach with technological innovation that changes the economics of retail finance. Moving beyond national stock exchanges that are not sustainable in most African countries towards regional solutions and over-the-counter trades can help foster long-term finance, as can addressing governance challenges in contractual savings institutions, including life insurance companies and pension funds. Finally, there is a need to look beyond supply-side constraints towards users of financial services, focusing more on financial literacy of households and firms, but also consumer protection. In formulating policy messages, we carefully distinguish between different country groupings, differentiating -- among others -- between low- and middle-income and small and larger economies, with a special focus on resource-based economies and post-conflict countries. This book reaches out to both policy makers concerned about a more inclusive and effective financial system and other stakeholders, including practitioners and development partners. With this book we aim to contribute to the on-going financial sector debate on Africa, with the ultimate goal of faster economic development and poverty reduction.

Author : Stephany Griffith-Jones,Ricardo Gottschalk
Publisher : Routledge
Page : 186 pages
File Size : 43,7 Mb
Release : 2016-03-24
Category : Business & Economics
ISBN : 9781317301691

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Achieving Financial Stability and Growth in Africa by Stephany Griffith-Jones,Ricardo Gottschalk Pdf

This book explores how the financial system should be regulated and structured to achieve the twin goals of inclusive growth and financial stability, with a focus on African low-income countries (LICs). The subject and content of this book is original in that it attempts to draw on the lessons and radical rethinking on the financial sector in developed and middle income countries, arising in the wake of the international financial crisis. It includes four in- depth country case studies, of Kenya, Ghana, Nigeria and Ethiopia, but also analyses the empirical evidence for Sub-Saharan Africa as a whole, evaluating the relevance (or not) of such major changes for the very different financial sectors and economies in low income countries. Achieving Financial Stability and Growth in Africa has major academic and policy implications, especially for low income countries, but also more generally, on broader issues. These include the desirable size of the financial sector, as well as more specific issues, such as the high cost of borrowing of small and medium enterprises in LICs, and possible measures to reduce it. Highly topical subjects like the appropriate regulation of the financial sector and management of capital flows are discussed in depth. Though drawing on comprehensive reviews of the literature, this volume has the virtue of the large comparative academic and policy experience of researchers, as well as in-depth case studies, that take account of institutional and economic features of low- income countries. Written by senior academics and policy-makers, this book is a must read for those researching or participating in the financial sectors of low-income countries, as well as in developed economies. It is also suitable for those who study political economy and public finance.

Author : Patrick Honohan,Thorsten Beck
Publisher : World Bank Publications
Page : 264 pages
File Size : 51,6 Mb
Release : 2007
Category : Business & Economics
ISBN : 9780821369104

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Making Finance Work for Africa by Patrick Honohan,Thorsten Beck Pdf

Drawing on its extensive experience in helping restructure and reform financial systems, the World Bank examines the state of African domestic financial systems in a global comparison. It identifies promising trends as well as pinpointing the major shortcomings that are observed across sub-Saharan Africa. Policy recommendations distinguish between those designed to make finance a more effective driver of economic growth and those designed to give low income, small-scale and other excluded groups better access to financial services.

Author : Mr.Montfort Mlachila,Mr.Masafumi Yabara
Publisher : International Monetary Fund
Page : 34 pages
File Size : 54,8 Mb
Release : 2013-09-26
Category : Business & Economics
ISBN : 9781484344538

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Banking in Sub-Saharan Africa by Mr.Montfort Mlachila,Mr.Masafumi Yabara Pdf

Many countries in sub-Saharan Africa (SSA) have seen accelerated growth for an extended period of time since the mid-1990s, making a clear break with their long stagnant growth during the previous two decades. That said, the region faces significant challenges over the medium to long term, including reducing poverty, overcoming infrastructure bottlenecks, enhancing productivity and skill levels, and improving the business climate, among others. The banking sector remains underdeveloped in SSA, thus reducing its contribution to growth, although its limited integration with global financial markets helped countries weather adverse effects of the global financial crisis. It is imperative that the banking sector plays a more active role in SSA, in order to achieve sustainable growth led by the private sector. This paper, building on the recent literature on SSA, discusses the main features of the region’s growth and macroeconomic performance in recent years and the outlook for the coming years; it then reviews the main features of SSA banking systems and how they were affected by the global economic crisis, while flagging some factors that could influence financial sector developments in SSA in the period ahead.

Author : Peter J. Montiel
Publisher : Unknown
Page : 56 pages
File Size : 42,6 Mb
Release : 1995
Category : Africa, Sub-Saharan
ISBN : STANFORD:36105017537080

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Financial Policies and Economic Growth by Peter J. Montiel Pdf

Provides an overview of what is currently known about the relationship between financial-sector policies and economic growth and the state of such policies in present-day SSA. Uses six countries to present a summary description of financial structure in SSA.