White Papers

Kuramo Capital believes sub-Saharan Africa is now poised to deliver excellent risk-adjusted returns to investors. The region is benefiting from the same forces that provided an attractive backdrop for long-term investments in other emerging and frontier markets.

Buoyed by strong economic growth rates over the past decade, the region’s economies have now reached the required breadth and depth to offer attractive investment environments to institutional investors. This includes favorable demographics, an emerging middle class with rising incomes, expanding domestic consumption and rising consumer demand, increasing urbanization and housing development, focused infrastructure development creating a multiplier effect, and abundant natural resources providing significant worldwide supply.

Legal Systems in Sub-Saharan Africa

Kuramo believes sub-Saharan Africa (“SSA”) is poised to deliver excellent risk-adjusted returns to investors. In the last decade, SSA has remained among the fastest growing regions in the world, outranked only by emerging Asia. According to the World Bank, GDP growth is an average of 4.5% in the last 10 years with nearly one-fifth of…

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Sub-Saharan Africa Power Sector

Sub-Saharan Africa’s impressive GDP growth rates of 6-7% in 2013, with further acceleration expected by the IMF in 2014, have been fueled by an emerging middle class, rising consumer demand, urbanization, increased investment flows, and the coming on-stream of oil, gas, and minerals in a number of countries such as Ghana, Uganda, and Kenya. As…

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Sub-Saharan Africa Debt Markets – A Primer

The overall size of the debt capital markets in sub-Saharan Africa (“SSA”) across government debt and corporate bonds is about $300 billion. While the corporate bond market is nascent – less than 25% of the current total debt market, with the vast majority of that corporate debt in South Africa – there is a long…

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