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How can African countries manage rising debt pressures while preserving the fiscal space needed for development? In this episode of Financing Africa’s Future, Kaara Wainaina speaks with Henry Kyeremeh, Lead, Sovereign Debt Advisory at FSD Africa, about sovereign debt management, domestic capital mobilisation and the tools that can help African economies build more sustainable financing frameworks. They explore liability management, debt capacity, domestic capital markets and the importance of stronger institutions in navigating Africa’s evolving debt landscape. Listen to the full episode for insights into the choices shaping sovereign finance across the continent.

Nigeria’s capital markets are at a pivotal stage, with market reform, liquidity, new investment products and regulatory innovation shaping the next phase of growth. In this episode of Financing Africa’s Future, Bola Ajomale, Commissioner, Operations at the Securities and Exchange Commission Nigeria, shares her perspective on the opportunities and challenges facing Nigeria’s investment ecosystem. The conversation explores market liquidity, capital raising, patient capital for SMEs and growth businesses, investor protection and the rise of digital assets and tokenisation. Bola also discusses the role of technology in strengthening market surveillance and the implications of Nigeria’s Investment and Securities Act 2025, which broadens the regulatory framework across emerging and established areas of the investment market. Listen to the full conversation for insights into how Nigeria is working to deepen its capital markets and build a more resilient investment ecosystem.

Ethiopia’s capital markets are entering a new phase, with reforms creating opportunities to mobilise domestic capital, deepen financial intermediation and expand access to long-term finance. In this episode of Financing Africa’s Future, Hana Tehelku, Director General of the Ethiopian Capital Market Authority (ECMA), discusses the evolution of Ethiopia’s capital markets, regulatory reform, investor confidence and the opportunities ahead for private sector financing and investment. Listen to the full episode for insights into the development of Ethiopia’s capital market and its role in supporting broader economic transformation. Subscribe to Financing Africa’s Future and listen to more episodes on the ideas shaping Africa’s financial future.

In Episode 19 of Financing Africa’s Future, Dr. Tilahun Esmael Kassahun, Founding Chief Executive Officer of the Ethiopian Securities Exchange (ESX), reflects on building Ethiopia’s capital market from the ground up. He discusses the ESX’s progress, growing investor participation, new market opportunities and the role of FSD Africa in supporting Ethiopia’s capital market development. Having since left the ESX, Dr. Kassahun looks back on an exchange that has evolved from an ambitious idea into a functioning market, leaving a strong foundation for its next chapter. Listen to the full conversation and subscribe to FSD Africa for more insights on Africa’s financial markets and economic transformation.

Africa’s institutional capital remains heavily concentrated in low-risk assets, while many high-growth businesses across the continent continue to face limited access to long-term financing. In the latest episode of Financing Africa’s Future, Hamdiya Ismaila, founder and Chief Executive Officer of Savannah Impact Advisory, sits down with Kaara Wainaina, Senior Manager, Advocacy & Campaigns at FSD Africa, to discuss how domestic capital can be better mobilised towards SMEs and the wider real economy. The conversation explores the evolution of Ghana’s investment landscape, the role of pension funds in deepening capital markets, and why building effective intermediary investment structures will be critical to unlocking more patient capital across Africa. A timely discussion on market development, impact investing, and the future of African finance.

Zambia’s capital markets are showing renewed strength, but what is really driving the momentum and can it be sustained? In this episode of Financing Africa’s Future, Nicholas Kabaso, CEO of the Lusaka Securities Exchange, shares a grounded perspective on the forces shaping the market today. From a strong equity rally and improving macroeconomic conditions to growing investor confidence following debt restructuring, the conversation explores what is working and where the deeper constraints remain. The episode also examines the persistent challenges facing small and mid-sized enterprises in accessing capital, the role of market structure and incentives and how African exchanges can better connect capital to productive sectors of the economy. A concise and insightful discussion for anyone interested in the future of capital markets in Africa. Subscribe and listen to other episodes of Financing Africa’s Future.

Africa is not short of capital; it is often a question of how that capital is deployed. In this episode of Financing Africa’s Future, Chinua Azubike, Chief Executive Officer of InfraCredit, reflects on the practical steps needed to channel domestic institutional capital into infrastructure and other productive sectors. Drawing on InfraCredit’s experience, the conversation explores how credit guarantees and risk-sharing tools are helping to make infrastructure projects more accessible to pension funds and insurers, particularly in local currency. It also considers some of the structural constraints that continue to shape investment decisions, including risk perception and market design. The episode offers a measured look at how capital markets can play a more consistent role in supporting long-term development across Africa. Watch or listen now.

Zambia is strengthening its capital markets to support sustainable growth, renewable energy and SME financing. In this episode of Financing Africa’s Future, Philip Chitalu, CEO of the Securities and Exchange Commission of Zambia, discusses the country’s US$200 million green bond programme, the launch of a green finance taxonomy, and efforts to expand investor participation from 3% to 10% of the population. A focused conversation on capital markets development, green finance and unlocking long-term investment for Zambia’s economy.

Africa’s pension funds are playing an increasingly strategic role in capital markets and long-term economic development. With South Africa’s retirement industry managing approximately US$376 billion in assets and APSA now representing 22 African countries, pension reform and supervision are firmly on the agenda. In this episode of Financing Africa’s Future, Kaara Wainaina speaks with Zareena Camroodien, Chairperson of APSA and Head of Frontline Conduct Supervision at the FSCA South Africa, about pension regulation, risk-based supervision, ESG integration, infrastructure investment and expanding coverage to informal sector workers. A focused discussion for professionals in pensions, asset management, sustainable finance and financial regulation.

Africa’s capital markets are evolving and asset managers are central to the next phase of growth. In this episode of Financing Africa’s Future, Tapologo Motbushi, Chairman of the Pan-African Fund Managers Association (PAFMA) and Portfolio Manager at Allan Gray Botswana, joins Kaara Wainaina of FSD Africa to discuss the future of African asset management. They explore domestic capital mobilisation, pension fund growth, cross-border investment, currency risk management, infrastructure financing and why ESG is now a fiduciary imperative. A timely conversation for asset managers, pension trustees, policymakers and investors shaping Africa’s financial ecosystem. Subscribe for more insights on African capital markets and sustainable finance.

Zambia’s capital markets are playing a growing role in driving economic development and sustainable finance. In this episode of Financing Africa’s Future, we speak with Nonde Sichilima, Director of Market Supervision and Development at the Securities and Exchange Commission of Zambia, on building trusted capital markets, expanding MSME financing, and mainstreaming green finance. The conversation covers market supervision, investor protection, green bonds, capital market innovation, and the role of regulation in unlocking long-term investment and financial inclusion. 🎧 Listen now for insights on capital markets development, sustainable finance and Africa’s economic future.

Explore the future of Kenya’s investment landscape in this episode of Financing Africa’s Future. We sit down with Fred Mburu, CEO of the Fund Managers Association (FMA) Kenya, to discuss how the fund management industry is shaping deeper, more resilient financial markets. With over two decades of experience, Fred shares insights on strengthening regulatory frameworks, promoting professionalism, and expanding investor education. We also explore the challenges and opportunities in Kenya’s financial sector, including the role of domestic capital, the informal economy, and the growing potential of retirement savings, unit trusts, and other investment vehicles. Kenya has over 40 licensed fund managers, with 21 currently in the FMA. While savings rates are improving, the country’s potential for financial inclusion and investment growth remains significant. Learn how FMA is driving transparency, integrity, and confidence in the market, while enabling long-term economic development. Tune in for a thought-provoking conversation on investment, regulation, and building trust in Kenya’s financial sector. Listen now and subscribe to stay updated on the latest in African finance and investment innovation.

Only one in ten African households has insurance, but innovation is rapidly changing that reality. In this episode of Financing Africa’s Future, we sit down with Elias Omondi, Principal for Innovation for Resilience at FSD Africa, to explore how new models are expanding coverage and strengthening financial resilience across the continent. From microinsurance and parametric climate products to regulatory sandboxes, insurtech acceleration and the pioneering BimaLab programme, Elias unpacks the solutions bringing affordable, accessible protection to informal workers, smallholder farmers and low-income households. This episode offers a sharp, compelling look at how insurance innovation, climate-risk finance and inclusive design are reshaping Africa’s risk-protection ecosystem. Listen now and subscribe for more insights on how financial innovation is transforming lives across Africa.

How can finance accelerate Africa’s transition to a sustainable, climate-resilient future? In this episode, Cecilia Bjerborn Murai, Principal for Sustainable & Green Finance at FSD Africa, unpacks how innovative tools like green bonds, blended finance and nature-based investments are helping mobilise capital for impact. Discover how sustainable finance is driving inclusive growth, supporting climate adaptation and reshaping Africa’s investment landscape. 🎧 Subscribe to Financing Africa’s Future for more insights on the people and ideas transforming Africa’s financial systems.

Africa’s path to prosperity depends not only on attracting investment but on rethinking how finance itself works. In this episode of Financing Africa’s Future, we sit down with Amos Gachuiri, Head of Investments at FSD Africa Investments (FSDAi), to explore how catalytic finance is helping to reshape the continent’s economic future. FSDAi, the investment arm of FSD Africa, deploys risk-bearing and patient capital to financial institutions and funds that can unlock sustainable, inclusive growth. From backing early-stage ventures and gender-smart funds to pioneering climate-transition and biodiversity projects, FSDAi works at the intersection of policy, innovation and investment to strengthen Africa’s financial markets. Amos shares insights into how the organisation is helping to mobilise domestic savings, particularly through Africa’s growing pension sector, while also crowding in private and international capital. The conversation reveals how building resilient financial systems, rather than isolated projects, can deliver long-term prosperity for the continent. 🎧 Tune in to discover how catalytic capital is helping finance Africa’s future — sustainably, inclusively and at scale.