In 2007, at TEDGlobal in Arusha, Tanzania, Euvin Naidoo gave an opening talk about investing in African countries — laying out 10 markets and metrics to watch as African nations gained capacity.
Today, in a follow-up post, investor Ryan Hoover looks at these 10 metrics that Naidoo laid out — and charts how much has changed in the past five years. It’s a fascinating post. A sample:
7. Africa’s Booming Banks
2007: Naidoo next remarked on the potential of the banking sector and the reforms taking place in Nigeria that consolidated that country’s 85 banks into 25. He noted that only 10% of Nigerians were banked.
2012: Five years later, and 36% of the Nigerian population is now served by the formal financial sector. Analysts at Bain Capital expect the sub-Saharan banking industry to continue growing at 15% annually all the way to 2020.