RISKRISK
Currency Mismatch: The Risk That Decides African Financings
March 3, 2026 · 8 min read
Back to home
Insights
Capital, policy, and market perspective
Analysis on development finance, risk management, fund structuring, and capital markets from across the group, with a focus on African mandates.
Featured
Latest perspective
Currency Mismatch: The Risk That Decides African Financings
A project earning in local currency and servicing debt in dollars carries a risk no amount of operational excellence removes. How that risk is placed, and who carries it, usually determines whether the project is financeable at all.
Read moreBrowse
All insights
Analysis on development finance, risk management, fund structuring, and capital markets from across the group, with a focus on African mandates.
RISK
GUARANTEEGUARANTEE
When the Offtaker Is a State Utility
February 24, 2026 · 7 min read
CAPITALCAPITAL
Blended Finance and the Additionality Test
February 17, 2026 · 7 min read
LEGALLEGAL
Exchange Control on the Critical Path
February 10, 2026 · 6 min read
CAPITALCAPITAL
Local Currency Capital and the Pension Pools Behind It
January 27, 2026 · 5 min read
GUARANTEEGUARANTEE
Partial Risk Guarantees in Practice
January 20, 2026 · 5 min read
POLICYPOLICY
Mining Fiscal Regimes and What Stability Agreements Are Worth
January 13, 2026 · 5 min read
CAPITALCAPITAL
Financing the Agricultural Value Chain, Not the Farm
January 6, 2026 · 5 min read
CAPITALCAPITAL
Corridor Concessions and Who Carries Throughput Risk
December 16, 2025 · 5 min read
POLICYPOLICY
Debt Sustainability and What It Does to Project Pipelines
December 9, 2025 · 5 min read
ESGESG
Impact Measurement When the Capital Requires It
December 2, 2025 · 5 min read
CAPITALCAPITAL
Financing Off-Grid and Mini-Grid Power
November 25, 2025 · 5 min read
CAPITALCAPITAL
The Trade Finance Gap and the Instruments That Close It
November 18, 2025 · 5 min read
RISKRISK
Political Risk Insurance and What It Actually Pays
November 11, 2025 · 5 min read
PUBLICPUBLIC
Lending to Cities: Sub-Sovereign Finance in African Markets
November 4, 2025 · 5 min read
POLICYPOLICY
Regional Integration and Cross-Border Structures
October 28, 2025 · 5 min read
RISKRISK
Local Content Obligations and Where They Bind
October 21, 2025 · 5 min read
CAPITALCAPITAL
How DFI Co-Financing Actually Assembles
October 14, 2025 · 5 min read
RISKRISK
Writing Currency Events Into the Documents
October 7, 2025 · 5 min read
CAPITALCAPITAL
Diaspora Capital and Remittance-Linked Instruments
September 30, 2025 · 5 min read
CAPITALCAPITAL
Blended Finance and EU Development Mandates
February 10, 2026 · 7 min read
CAPITALCAPITAL
PPP and Availability-Based Models in European Infrastructure
March 10, 2026 · 7 min read
CAPITALCAPITAL
Mobilizing Institutional Capital for Grid and Storage
April 14, 2026 · 7 min read
CAPITALCAPITAL
Export Credit Agency Cover in Sovereign and Infrastructure Capital Stacks
May 12, 2026 · 7 min read
RISKRISK
Enterprise Risk Management for Capital-Intensive Mandates
June 9, 2026 · 7 min read
RISKRISK
Incident Memo: When a Municipal Offtaker Stops Paying — and Nobody Defaults
June 9, 2026 · 7 min read
RISKRISK
Due Diligence for IC and DFI Gates: A Working Checklist
July 14, 2026 · 7 min read
FUNDSFUNDS
Letter to Prospective Limited Partners: Governance Before Growth
August 11, 2026 · 7 min read
FUNDSFUNDS
Alternative Strategies for European LPs: A Strategy Map
September 8, 2026 · 7 min read
FUNDSFUNDS
LP Memo: Co-Invest Access, Allocation Fairness, and Fee Economics
October 13, 2026 · 7 min read
POLICYPOLICY
EU Capital Markets Union and the Institutional Investor Agenda
February 10, 2026 · 6 min read
POLICYPOLICY
National Recovery Plans and Private Capital Mobilization
March 10, 2026 · 6 min read
POLICYPOLICY
Regulatory Convergence Across DACH, Southern, and Nordic European Markets
August 11, 2026 · 6 min read
POLICYPOLICY
Development Finance Institutions and the Future of European Co-Financing
September 8, 2026 · 6 min read
CREDITCREDIT
Guarantee Facilities and Partial Risk Sharing for Infrastructure Debt
May 12, 2026 · 7 min read
CREDITCREDIT
First-Loss and Mezzanine Credit Enhancement in Blended Finance Stacks
July 14, 2026 · 7 min read
CREDITCREDIT
Sovereign Guarantee Programs and Private Capital Catalysis
October 13, 2026 · 7 min read
IMPACTIMPACT
ESG Integration Across the Investment Lifecycle in European Markets
April 14, 2026 · 7 min read
IMPACTIMPACT
Impact Measurement for Development Finance and Institutional Mandates
November 10, 2026 · 7 min read
IMPACTIMPACT
Transition Finance and Credible Decarbonization Pathways in European Industry
November 10, 2026 · 7 min read
Topics
Areas we write about
Analysis on development finance, risk management, fund structuring, and capital markets from across the group, with a focus on African mandates.
Start a conversation
Discuss an insight or mandate
Connect with our advisors on capital structuring, risk, or sector-specific requirements.