Why investmentsfail in Africa.
Our flagship series explores the overlooked questions behind failed and stalled investments.
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On the desk.
A quick way into the questions shaping our analysis. Explore the full assessments for their evidence and context.
The information gap
What gets missed before capital moves?
Political incentives, partner dependence, regulatory practice, and the ability to exit can be harder to see than headline demand. Our flagship introduction sets out five recurring failure patterns and the research questions behind them.
Explore the flagship seriesEthiopia's next chapter
Which conditions change the outlook?
The Ethiopia outlook connects policy continuity, foreign exchange reform, external financing, and operating conditions. It sets out alternative scenarios and the indicators that would move the assessment from one path to another.
Read the country outlookCurrency reform
When does reform become usable?
A new exchange rate does not answer every investor question. Our thematic assessment examines access, liquidity, and repatriation across Nigeria, Egypt, and Ethiopia to distinguish policy announcements from practical entry conditions.
Follow the FX analysisAll insights
3 insightsNo insights match your search.
Why Foreign Investors Fail in Africa: Series Introduction
The recurring information gaps behind failed investments, and the questions that could have surfaced them.
October 2026Read insight
Ethiopia After the 2026 Election: Continuity, Reform, and the Investor's Map
Policy direction, currency reform, and the scenarios that shape the next set of investor questions.
September 2026Read insight
Frontier Africa's FX Reforms: Reading the Entry Signal in Nigeria, Egypt, and Ethiopia
A framework for reading currency reforms through convertibility, liquidity, and the conditions for entry.
September 2026Read insight
A reader's guide
Read the evidence.
Question the conclusion.
Our published work brings the reasoning into view, so you can examine the assumptions as closely as the assessment.
Explore our methodologyWhat will I find in an insight?
Key findings, the analysis behind them, indicators to monitor, and conditions that could change the view. Country and thematic assessments connect a broader question to specific evidence.
How should I read the scenarios?
Scenarios describe alternative paths and their assumptions. Read each path alongside its triggers and stated probabilities; an outlook explains possibilities rather than promising an outcome.
Where should I begin?
Start with the key findings, then examine the indicators and conditions. Follow the full argument before applying an assessment to your own question.
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Megala provides independent research and advisory services. Published assessments explain the evidence, scenarios, and conditions behind investment-related recommendations. Advisory engagements apply that analysis to the client's stated objectives within an agreed scope. Legal, accounting, and tax advice are outside our scope. Political assessments describe scenarios and indicators; they are not statements about the legitimacy of any government.