Africa's economic momentum is gathering pace. The IMF expects growth in Sub-Saharan Africa to accelerate to 4.4% in 2026, overtaking Asia's projected 4.1% and marking the first time the continent has outpaced the region.
Against a backdrop of geopolitical uncertainty and market volatility, this outlook is reinforcing Africa's appeal as an investment and dealmaking destination. Discussions among business leaders, corporates and investors at the 11th annual Investec Pan Africa Conference in Cape Town recently highlighted the fundamentals driving sustained growth across a range of emerging and frontier markets on the continent.
"Most African markets (excluding South Africa) have continued to outperform emerging market peers in Asia over the last 12 months, affirming our outlook presented at this time last year," says Andrew Schultz of Investec Frontier Markets.
Recent data shows that African markets have delivered returns in excess of 55% in US dollars over the past year.
Africa’s enduring growth story
Schultz points to strong performances from both individual corporates and broader equity markets across a diverse range of countries, including Egypt, Kenya and Nigeria.
Stable local currencies, easing inflation, rising disposable income and consumer spending, and robust demand for resources have all supported corporate earnings. The result has been attractive real returns for existing investors and growing interest from new market participants.
As confidence in African markets builds, more companies are exploring public listings across sectors ranging from industrials to fintech.
“Dual listings in particular have seen a successful track record in recent years, improving liquidity by broadening the investable universe and giving investors greater access to the outstanding growth stories on the continent.”
Schultz also highlights an uptick in inbound merger and acquisition activity as investors recognise the attractive valuations and prospects of companies focused on the continent.
Capital follows opportunity
The renewed interest in African markets is creating more opportunities for companies and investors to connect, raise capital and pursue transactions across the continent.
Against this backdrop, the 2026 Investec Pan Africa Conference brought together institutional investors and corporates to showcase African success stories and a wide range of potential investment opportunities, while creating a platform for robust dealmaking.
First held in 2015, the conference spans markets across the continent and sectors including telecoms, energy, financial services, fast-moving consumer goods (FMCG), infrastructure development and healthcare, reflecting the diversity of Africa's growth story.
The event facilitated 195 engagements through a mix of one-on-one, small group and online meetings, providing an efficient platform for institutional investors and fund managers to connect with C-suite executives from across geographies and industries.
The Investec Institutional and Corporate Banking (CIB) team was on hand to provide advisory, investor engagement, market access, fundraising and equity capital market (ECM) support to participating firms.
“The timing of the conference was opportune,” concludes Schultz. “Expectations for sustained US dollar weakness beyond the Middle East conflict, coupled with strong fundamentals, should support a favourable macroeconomic environment for African countries and corporates going forward.”
The Investec Pan Africa Conference
The Investec Pan Africa Conference connects global fund managers with leading African corporates, facilitating high-value investment opportunities. Covering all sectors – from telecoms and energy to financial services and healthcare – the conference provides a platform for meaningful investor engagement across the continent. Our goal is to drive impactful connections between investors and companies worldwide.
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