Africa
ESG Integration and Engagement: South Africa Sovereign Credit
Environmental, social and governance (ESG) indicators are integral to PIMCO’s sovereign credit assessments, which inform our investment decisions. But how exactly do we incorporate ESG considerations into our decisions?
17 Oct 2018
Dufil Prima Foods COO on Financial Strategy, Expansion into Agricultural Segment
Madhukar Khetan, Chief Operating Officer at Dufil Prima Foods, spoke to Bonds & Loans about the Nigerian company’s expansion plans, cost-revenue balance, and the role of the issuance house for the local debt capital market.
16 Oct 2018
Cape Town Bolsters ESG, but What’s Green Today May Not Be Tomorrow
Cape Town is one of the few municipalities to have issued a green bond, a hugely successful transaction that generated significant oversubscription despite a challenging local market backdrop. We spoke with David Valentine, the Treasury Director and Janine Marion Abrahams, Head of Bank and Treasury Loans, Finance and Treasury Department at the City of Cape Town, about how it prepared for the…
9 Oct 2018
Fitch Ratings: ‘Nigeria growth outlook strong despite looming election’
Nigeria’s economy recorded better than expected private sector credit growth in the third quarter of this year, with more borrowers funnelling the proceeds towards CAPEX-related activities – despite next year’s federal election looming. We speak with Jan Friederich, a senior director at Fitch Ratings about lingering risks in the country.
4 Oct 2018
Off the Record: South Africa’s Benign Funding Environment a Boon for Some, Challenge for Others
With the October mini budget speech looming, South Africa’s economy and funding environment come sharply into focus; both remain in a precarious state. Analysts, investors, CFOs and Treasurers who spoke with Bonds & Loans on a recent research trip to the region emphasise that the way in which the macro environment evolves, and the way in which the government tackles key issues like land reform,…
28 Sept 2018
SWOT Analysis: South Africa
Bonds & Loans met with a range of borrowers, investors, bankers, advisers and capital markets specialists on a recent trip to South Africa. Here is our summary of what they told us.
20 Sept 2018
Fitch Sees Investment Driving Growth in East Africa, Warns of Rising Levels of Debt
Bonds & Loans interviewed Jermaine Leonard, Director, Sovereign Ratings at Fitch Ratings, about the macro outlook for East Africa and the sustainability of its debt burden.
20 Sept 2018
Interview: Nedbank Bullish on East Africa, Refinancings and ECA-backed Deals to Dominate This Year
Despite overall syndication volumes down year-on-year, Sub-Saharan and East African markets are seeing pockets of activity and positive developments, including extending tenors and more corporates coming to market. We speak to Samta Lalan, Head of Distribution at Nedbank, about the lender’s key focus areas, market outlook and challenges facing the banking industry in Africa.
6 Sept 2018
Mixta Africa CFO on Affordable Housing Initiative, High Cost of Funding and Advice for Borrowers
With pressure on high-yield assets and non-investment grade credit across EMs, Mixta Africa, an African property developer and fast-rising player in the continent’s real-estate market, is doubling down on its corporate principles – including adaptive product development, low cost land acquisition and establishing local communities – to navigate those challenges. Bonds & Loans speaks with Benson…
21 Aug 2018
African Trade Insurance Agency: Sovereign Debt, Current Account Balances Need Watchful Eye
How is the current macro environment – rising interest rates, a global escalating trade war, and elevated regional sovereign debt – influencing East African markets? John Lentaigne, Chief Underwriting Officer at African Trade Insurance Agency, speaks with Bonds & Loans about the economic outlook in some of the region’s largest economies.
14 Aug 2018