Why lasting economic transformation depends on the ecosystem around entrepreneurs, not just the capital they receive. Wting economic transformation depends on the ecosystem around entrepreneurs, not just the capital they receive. Executive Summary Industrial policy is once again at the centre of Africa's development agenda. While targeted government support is important, my experience working with entrepreneurs and financial institutions across India, East Africa and Southern Africa has shown...

By Rajarshi Banerjee Reading Time: 7–8 Minutes Published: 3rd June 2026 Leadership Clarity vs Capital Size in African Banking Transformation For much of the past century, banking success was often measured by scale. The largest balance sheets. The widest branch networks. The strongest market positions. Yet the transformation of banking across Sub-Saharan Africa over the past two decades tells a more nuanced story. Some of the institutions that adapted most successfully were not necessarily...

There is a story I keep coming back to. Not because it is literary. But because it feels uncomfortably real. It is the story of The Sorcerer’s Apprentice . The master leaves the room. For the first time, the apprentice is alone. No supervision. No instructions. Just possibility. And like most of us would, he looks at the work in front of him and thinks: There has to be a smarter way to do this. So he decides to try something bold. He takes a broom. Uses a spell he has observed, and brings it...