Africa has faced an uphill battle to cut the number of unbanked citizens – key to driving economic development. But momentum is building and innovation is revolutionising the banking sector

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A Chinese oil drilling team working for Repsol. Photo: Getty Images

The European Commission has followed in the footsteps of the US, publishing draft directives for transparency on resource payments. The new rules could go a long way toward curbing corruption in the sector, but the question of competitiveness has left stakeholders at loggerheads

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An open cast mine, operated by Kumba Iron Ore Ltd, an iron ore-producing unit of Anglo American Plc, in Sishen, South Africa Photo: Getty

African governments once rushed into signing bilateral investment treaties to encourage FDI. Lawyers are now calling for new models

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Morgan Tsvangirai

“There is a regional consensus that the crisis cannot be allowed to affect regional development”

Ali Moshiri

“Africa probably has more resources than any place you can imagine”

Lamido Sanusi

“There can never be soft touch regulation. But it has to be regulation that is not arbitrary. The direction needs to be clear”

Luc Duval

“Africa has lots of potential – raw materials and young people – but it needs FDI”

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