Despite Africa’s growing need for capital flow, the lack of strong cross-border payment corridors and adequate local compliance measures remain key issues for banks and financial institutions looking to channel their investments into the continent, according to senior bankers.
The “shrinking” of global correspondent banking networks over the past few years has created challenges to the flow of investments heading to Africa, said Simon Huckle, senior vice-president and head of emerging markets financial institutions at Crown Agents Bank.
