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Corey Modeste on Why Sovereign Credit, Africa’s Middle Class Matters [Part 1 of 3]

Corey Modeste on Why Sovereign Credit, Africa’s Middle Class Matters [Part 1 of 3]

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An investment analyst and director at Greylock Capital Management, Corey Modeste recently sat in on an interview with AFKInsider which analyzed sovereign credit, emerging markets and investment trends in Sub-Saharan Africa. In part one of the interview, Modeste elaborated on Nigeria’s hurdles in financial reform. He also noted Greylock Capital’s core values saying that great investment opportunity is rooted in a strong middle class.

“When we look at countries like Ivory Coast, Zambia, Senegal, Nigeria and Ghana, we see them taking on the same reforms and initiatives that countries like Brazil and India did 10 to 15 to 20 years ago. So we certainly see that opportunity coming for countries like Ghana where we could look at a healthy sovereign market,” Modeste said of Africa’s investment landscape.

“I think you also need individuals within the government to recognize that an independent banking system and judiciary is going to be crucial,” he said of financial sector reform.

View: Part TwoPart Three