Africa Must Be Wary of Potential Financial Crisis, Nene Says
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African regulators must be wary of growing cross-border financial risks as the continent’s banking system becomes increasingly sophisticated over the next decade, according to South African Finance Minister Nhlanhla Nene.
With high economic growth and a young population, the continent’s financial system will rapidly gain customers and expand across countries, Nene said at a conference hosted by the Economist in Johannesburg today.