Leading Urbanization Finance in Africa

Pan-African banker Sepo Haihambo calls for African banks to spearhead urban development projects, ensuring sustainability and local grounding. She emphasizes the importance of leveraging domestic financial institutions as central actors alongside global capital.

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African Banks and Institutions Must Lead on Urbanization Finance – or Risk Being Sidelined by Foreign Investors, Says Pan-African Banker

Tuesday, January 27, 2026 - Home

In an article penned in October of last year, Sepo Haihambo—a distinguished pan-African banker with a history as CEO at FNB Commercial Namibia—highlighted the burgeoning need for African banks and institutions to assume leadership roles amidst Africa’s rapidly urbanizing landscape. Her urgent plea comes against the backdrop where towns across our continent have expanded exponentially over recent decades.

Haihambo articulates that this unprecedented growth presents an unparalleled window of opportunity, urging financial bodies within nations such as Namibia, Rwanda, and Morocco—currently attracting substantial foreign direct investment in sectors like energy mining manufacturing—to pivot towards financing municipal expansion. Such investments would encompass housing to infrastructure projects with a view toward propelling domestic GDP.

While acknowledging the necessity for external capital flows—a lifeline especially after global development aid reductions—the banker underscores that African financial institutions are deeply embedded within their respective societies and thus, should hold central importance in steering sustainable urbanization rooted firmly on home soil. These entities possess unique insights into structuring municipal finance—managing debt alongside other income streams; financing for sustained developmental efforts as well as forging public-private partnerships.

Notably, Haihambo insists that African financiers ought to be tasked with evaluating infrastructure projects ensuring they are not only cost-effective but also cater precisely to local exigencies. Illustrative of this concern is Ethiopia’s railway—despite its burgeoning population and substantial Chinese government-backed loan—the project has faced mounting maintenance issues coupled with dwindling passenger numbers, an issue symptomatic among the 70 mega-projects funded by various financial institutions.

Haihambo’s vision calls not for African banks to displace foreign investors but rather implores them into active collaboration. It is this synergy that will forge a path toward sustainable urbanization which secures economic sovereignty and guarantees growth remains locally beneficial, echoing her conviction: “External funding alone isn’t the panacea we need; without nuanced insights rooted in local realities mega-projects may falter.”

Born out of over 20 years immersed within commercial banking sectors across multiple continents—from Namibia to emerging economies—Haihambo carries a wealth of knowledge. Her roles span from managing large-scale infrastructure financings, innovating capital markets solutions that traverse energy and telecommunications industries—to even spearheading digital transformation initiatives as part of the B20 South Africa Digital Transformation Task Force.

As an astute observer with keen acumen for African urbanization finance dynamics—Haihambo’s insights are not just observations but calls to action. Her narrative is a clarion call resonating through Kenya, Ghana, Nigeria—the very heartbeats pulsing within our burgeoning cities and towns across the land where every beat counts in this race towards sustainable development.

About Sepo Haihambo: A seasoned executive with decades of experience as an African banker influencing not only commercial banking sectors but also shaping capital markets for emerging economies. Her transformative work at Commercial Banking FNB Namibia, coupled by her influential position on the B20 South Africa Digital Transformation Task Force has positioned her uniquely amongst global financial pioneers.

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