Growth Prospects Subdued in Africa Loan Market
All eyes are on the African banking sector after a record year for corporate loan issuance across the continent in 2014. Indeed the continent-wide African loan market saw USD44.7bn in loans issued last year, up by 23% year-on-year (y-o-y) from USD36.4bn in 2013 - data from Dealogic shows. The outlook of BMI's global desk for banking sectors across emerging markets is broadly upbeat, and the same can be said for the continent-wide forecast - albeit mixed depending upon region and country. We note that while it is unlikely that the Sub-Saharan Africa region will enjoy the rate of growth it has experienced over recent years, it will nevertheless offer the most exciting growth stories globally over the next five years.