Derek Nseko, CEO of Airspace Africa, returns for part two of our series on aviation financing and answers even harder questions like what does disciplined growth look like for African airlines?

And you know, this is particularly important for state-owned airlines.

A national airline could have a legitimate development mandate So with national airlines especially, you know, it might be expected to support tourism.

That's understandable.

Support trade, support investment.

Sometimes we even have diplomatic connectivity that is important.

And this even supports the creation of certain routes and even national integration, whatever it might be.

But is the bigger issue actually whether airlines are ready for the capital they're seeking? What are financiers looking for beyond the need for more aircraft? And how do governments' credible financial reporting, foreign exchange risk and regulatory certainty affect the cost of capital? And what should governments, regulators and airlines change to make African aviation more bankable? In this first part of our financing series, Derek Nseko, CEO of Airspace Africa, lays the groundwork as he starts to answer these hard questions.

When I reflect on the Finance Partner at Aviation Africa, the central conclusion I came away with is that African aviation does not simply have a shortage of money.

It has a much broader challenge around bankability, around risk, I believe around institutional credibility, and the readiness of our airlines to absorb capital responsibly.

Very often we begin these conversations by saying Africa needs more aircraft.

And therefore, it needs more financing, naturally.

That is true, but it's only part of the story.

So there's significant capital available globally.