Some 10 years later, this narrative changed to a more inspiring one, of ‘Africa rising’, facilitated by the commodities boom, growing manufacturing and services sectors, a rapidly growing middle class, improved health prospects for many Africans, and a new-found passion for technology. With a stable economic outlook, foreign investment also increased.
In this financial environment, the financial position of firms is easing, and the lending attitude of financial institutions as perceived by firms is becoming less severe. It continues to warrant careful monitoring how these favorable developments in corporate financing environment will affect economic activities. BIS Review 12/2000  2