The right time to approach the capital markets is not when funding becomes available. It is when a business, its purpose, and the market are all aligned.
Nigerian banks lend the equivalent of just 9.4% of GDP to businesses. With interest rates at 26.50% and banks favouring government securities, where are businesses turning for financing? Our latest Capital in Context looks at the shift.
Nigerian businesses building long-horizon projects, such as infrastructure, manufacturing, and the industries that drive sustainable development, need long-tenor capital. For businesses thinking seriously about scale, the case for capital markets financing is no longer optional.
Introducing Capital in Context, our new series unpacking the shifts shaping African capital markets.
First edition: what Q1 2026 told us about the rise of private credit in African fundraising.
Findings drawn from the Q1 2026 Africa Private Capital Fundraising Report by Stears.