African countries turn to domestic capital markets as foreign funding dries up

African countries are increasingly turning to domestic capital markets to fund development priorities as overseas financing dries up, amid a slowdown in foreign investment and mounting fiscal pressures from debt repayments. According to Financial Sector Deepening, FSD, the shift towards domestic capital markets has also been driven by low market activity across the continent. FSD says fewer than half of African countries have recorded a domestic firm issuing a corporate bond since 2000. Jimmy Mbogoh has more.