The second half of 2020 has seen a marked improvement and change in activity across business operations in the continent. As a result of early pro-active interventions, Africa has fared relatively well through the COVID-19 crisis despite challenges in the adequacy of the health systems and infrastructure.
Nevertheless, the economic fallout from the COVID disruption exacerbated existing economic pressures. The recovery though is taking shape, with timely intervention from global multilateral organisations, Government support, and public and private sector partnerships.
The start of the crisis witnessed an unprecedented flight of capital from the continent as state and institutional investors refocused their investments away from emerging and developing markets. Families and corporates are now increasingly looking inward for opportunities to invest within the continent. Jersey member firms continue to play a crucial role in advising private and institutional investors looking to invest in Africa, African families and businesses looking to invest across the globe. The Jersey Finance team continued to engage strategically with key stakeholders across our key African markets organising and participating in public facing and private closed-door meetings.
We participated in Invest Africa’s successful showcase inaugural India and Africa summit. Similarly, we joined the conversation on the empowerment of women organised by the Cherie Blair Foundation.
In Nigeria, we co-hosted well attended webinars with the Lagos Chamber of Commerce and Chapel Hill Denham, the largest investment bank in Nigeria.
Our groundbreaking research ‘South Africa Fund Managers – Trends in Fund domiciliation and capital raising’ launched this month, providing market findings for funds and investors to facilitate capital flows into Africa underpinning our fund activity within the region which continues to bear fruit as we attract managers and their funds to Jersey. We were delighted to support the Africa Debate again this year, held virtually with a wider audience base. Similarly, our Women in Leadership series was also successfully held virtually with a global focus, with African representation provided from our partners in East Africa.
Allan Wood, Global Head of Business Development and Faizal Bhana, Director in the Middle East, Africa and India
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