Recently released filings in Nigeria and Kenya show assets under management for banks, insurers, and pension funds have grown 17% in the past year. This is despite a global backdrop of protectionism and the politicization of development institutions investing in emerging markets.The administration of US president Joe Biden is set to change these conditions, with multilateral policy aimed at cooperation and growth for low- and middle-income countries.African asset managers should prepare for greater flows of capital from abroad into African banks, increased capacity-building support for local financial and insurance institutions, and larger government balance sheets. It is not only financial
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