Africa is a continent of vast opportunity. But leveraging the African success story requires genuine insight into the disruptive trends that are helping to shape Africa’s transformation. A recent Citi roundtable highlighted how treasury is evolving on both sides of the continent, and how treasurers can play a role in putting Africa firmly on the corporate map.
Treasurers looking to operate in Africa, and those already on the ground, will always benefit from the experience of those who have gone before them. Insight that comes only from a practical understanding of what it is to trade in different parts of this continent, helps shine a light on just how much of an opportunity awaits those who choose to do business in a modern, progressive Africa.
Centralisation is rapidly evolving
For European or American corporates operating a treasury hub in Africa, approaches to centralisation are being redefined, as a result of regulatory changes and technological evolution. As Geoffrey Gursel, SSA Head of Corporate & Public Sector Sales & Implementation, TTS, Citi, notes, this requires treasurers to ask more pointed questions as to where people are needed locally. Traditional treasury hub locations such as Johannesburg, Cape Town and Nairobi are no longer the only options.