By Rene Anthere Rwanyange
Nairobi, September 15, 2026 – African capital market leaders are seeking ways to unlock an estimated US$4 trillion in domestic institutional capital to finance development, strengthen climate resilience and support sustainable economic growth across the continent.
More than 300 policymakers, regulators, investors and development finance leaders from over 20 African countries are meeting in Nairobi this week to explore how the continent can unlock its estimated US$4 trillion in institutional capital to finance development and climate resilience.
The discussions are taking place at the third Sustainable Capital Markets Conference, organised by FSD Africa and partners, amid declining overseas financing, slower foreign investment and growing fiscal pressures across African economies.
The conference is focusing on ways to direct more domestic capital into infrastructure, energy, businesses, climate resilience and other productive sectors that can support economic growth and create jobs.
African institutional investors—including pension funds, insurance companies, banks and sovereign wealth funds—manage about US$4 trillion, but only an estimated 2.7 percent of these assets is invested in infrastructure and other productive sectors.
Conference organisers say this represents a major opportunity to strengthen Africa’s capacity to finance its own development.
Despite the growth of African capital markets, activity remains relatively low. Fewer than half of African countries have recorded a domestic corporate bond issue since 2000.
Meanwhile, African equity markets have grown significantly, reaching about US$561 billion, a 27-fold increase since 2000. However, Africa’s share of global capital market activity has declined, suggesting that market growth has not kept pace with international expansion.
The Nairobi conference is bringing together leading figures in capital markets, sustainable finance, debt management and investment mobilisation to discuss practical measures for developing deeper, more efficient and inclusive financial markets.
Among the speakers are Mark Napier, Chief Executive Officer of FSD Africa; Chris Olobo, CEO of Dhamana Guarantee; Jonathan Stichbury, CEO of SanlamAllianz Investments; Albert Rweyemamu of the African Trade Insurance Agency; Daniel Mainda, CEO of the Nairobi International Financial Centre Authority; and Yodit Kassa, CEO of the Ethiopia Stock Exchange.
Other participants include Nicholas Kebaso, CEO of Lusaka Stock Exchange, and Dr Evans Osao, Chief Financial Markets Officer at FSD Africa.
Key discussions will cover sustainable finance, domestic capital mobilisation, blended finance, sovereign debt management, institutional investment and innovative financing mechanisms.
The meeting comes as Africa faces growing demand for long-term investment. About 25 million young people enter the job market each year, increasing pressure on governments to expand infrastructure, energy, businesses and employment opportunities.
At the same time, high debt-servicing costs are limiting fiscal space in many countries, increasing the importance of developing stronger domestic capital markets.
Delegates are expected to examine measures including stronger market infrastructure and regulation, expanded use of green, gender and thematic bonds, catalytic transactions to attract private investment, improved sovereign debt management and greater institutional investment in productive sectors.
The conference is also expected to produce an Africa Capital Markets Roadmap, outlining shared priorities and commitments to accelerate the development of stronger and more inclusive capital markets.
A separate capital mobilisation roadmap will seek to identify practical actions around public-private partnerships, regulatory reforms, financing structures and innovative investment vehicles.
The organisers also aim to identify new pathways for unlocking Africa’s US$4 trillion institutional capital pool, particularly for infrastructure, climate resilience, energy transition, micro, small and medium enterprises and other productive areas of the economy.
FSDA_57& 60 – Mark Napier, CEO, making opening remarks during the 3rd Sustainable Capital Markets Conference, which has gathered over 300 C-Suite Capital Market Leaders from over 20 countries in Nairobi to explore how to invest the continent’s cumulative US 4 trillion in institutional assets into the real economy.
FSDA_179 -Mark Napier CEO FSD Africa, Hikmet Abdalla CEO FSD Ethiopia, Jemima Gathumi Lead Capital Markets FSD Africa, Dr. Evans Osano Chief Financial Markets Officer FSD Africa, Greta Bull Board Member FSD Africa, launch the “Making Financial Markets Work” report that looks at state of play and recent capital markets case studies in Africa.
FSDA_166 -Jemima Gathumi, Lead Capital Markets, FSD Africa
