Whichever way we slice and dice data, it tells a story one can’t ignore. A thought-provoking series of articles by The Economist shows that while the rest of the world is getting richer, African isn’t. The wealth gap between Africa and the rest of the world, as measured by PPP adjusted GDP/capita, has more than doubled over the past 20 years (with Africa largely stagnant). This raises the question, “what is our response as finance professionals”? Are there alternative ways to create employment and wealth in frontier markets that do not compromise the standards and ethics we want to uphold? Or are we happy doing the same thing over and over, expecting different outcomes?

A good start would be to accept that actions must follow words, and time is of the essence. It has almost become a self-fulfilling prophesy, if not a quality stamp, that financing development in frontier markets must be slow and tedious. How do we expect businesses to flourish if we ask them to line up a year in advance to secure a loan? There are of course some good (but many bad) reasons for the rate at which projects get implemented, not least that governments frequently fall behind on promises to ‘improve the enabling environment’.

Notwithstanding, the Economist article highlights that more than ever we need to question how the financial community engages with Africa. As a private company, Cygnum Capital has the ability, if not the responsibility, to find ways to cut through bureaucracy and ’process for the sake of process’. We have an obligation to all our stakeholders to address the biggest cost weighing on economic development; and nothing costs more than lost time. How many promising new and growing businesses have failed because precious resources dwindled away whilst awaiting decisions and action?

If a good opportunity comes our way, any delay due to process, indecision or resource constraints is unacceptable. Cygnum Capital delivers a best-in-class service to its clients; that includes a platform that recognises that we can’t afford to lose time. Certainly, speed can be achieved by cutting corners, but the kind of speed we prioritise is driven by a hands-on approach that allows us to take a more nuanced and informed view of risk.

We want to challenge ourselves to excel, including, or particularly by looking at the ticking clock. If we fail on that then #notgoodenough