Banks pull back from frontier markets amid scandal and risk
Mar 23, 2020
The attraction of frontier markets such as fast-growing African economies is clear. “These are often young, growing populations; countries where incomes are rising. Nigeria’s population is set to overtake the US by 2050,” says Gavin Serkin, author of Frontier: Exploring the Top Ten Emerging Markets of Tomorrow.
"[Frontier markets] are countries where you do need to be careful of issues around transparency, corruption or government incentives,” says Mr Serkin. “The situation around that bond — the tuna fishing fleet, the multiple billions being borrowed — it always looked like a farfetched scenario.”