Africa
Is Zambia the New Mozambique? Rising Debt Levels Reverberate Through Sub Saharan Africa
Mozambique’s recent default on bond obligations, due to copious amounts of hidden loans, was a shock for investors in the region, seen by many as a harbinger of more fiscal troubles on the horizon for Sub-Saharan Africa. Reports in the local press may indicate a familiar pattern emerging in Zambia – but for now, analysts are giving it the benefit of the doubt.
23 May 2018
CASE STUDY: Stanbic Kenya Sees Tremendous Demand on Fourth International Syndication
The Kenya-based subsidiary of one of Africa’s leading financial institutions managed to secure strong demand from a broad group of lenders as it sought to diversify its sources of funding.
17 May 2018
SWOT Analysis: Nigeria, West Africa’s Largest Market
In advance of our Bonds, Loans & Sukuk Nigeria 2018 conference and forthcoming special report on the region, Bonds & Loans met with a broad range of local finance leaders in order to get a sense of the risks and opportunities on the horizon.
19 Apr 2018
CASE STUDY: Cote D’Ivoire Coasts to the Market with Largest African Euro Bond
The West African nation was able to extend its debt profile with the first ever EUR 30-year tranche from the continent’s sovereigns and the largest ever EUR-denominated issue by an African sovereign.
12 Apr 2018
SWOT Analysis: Kenya, East Africa’s Largest Market
In advance of our Bonds, Loans & Sukuk East Africa 2018 conference and forthcoming special report on the region, Bonds & Loans visited the region to meet with a broad range of finance leaders in order to get a sense of the risks and opportunities on the horizon.
6 Apr 2018
CASE STUDY: Senegal Hits Tightest Yields for SSA Sovereigns with Dual-Currency Bond
Senegal shook up the Sub Saharan African issuance pipeline with its largest ever international bond at its longest tenor to date, setting a new benchmark for Sub Saharan Africa sovereign borrowers with its widely welcomed 30-year addition to the curve.
29 Mar 2018
On the Ground, Off the Record in Africa: Public Debt Access, ESG, and Reform
Will 2018 see more African corporates tap into the public debt market? Are green bonds, sukuk, and other alternative fixed income structures likely to grow in prominence across the continent this year? And will political reversals in some of the region’s largest economies be matched by deep reform? Bonds & Loans spoke with dozens of borrowers, investors, bankers and government representatives at…
26 Mar 2018
MTN Group Treasurer: ‘Diversification High on Agenda, but Nigeria, SA Ratings a Key Risk’
Africa has a thriving telecoms sector with huge growth potential, but economic and political risks appear elevated – particularly in the continent’s largest economies. Thuto Shomang, Group Executive – Treasury at MTN Group, Africa’s largest mobile telecoms operator, talks to Bonds & Loans about the company’s funding objectives in 2018, and shares his views on how US monetary policy and credit…
20 Mar 2018
Post-Arab Spring North Africa Could Dominate Key Sectors
In 2011 winds of change swept through MENA, and what followed was a tumultuous period for many African economies in particular. Seven years on, some, like Libya, are still struggling to recover from the turmoil, but others, like Tunisia or Morocco, are revitalized and in many ways emboldened. Indeed, many of their markets have much to show for it.
13 Mar 2018
UPF Corp EMD Head: ‘Africa has bright spots but transparency, governance still pitfalls'
African borrowers have boosted international borrowing over the past few years, but have investor perceptions of the benefits – and risks – inherent to investing on the continent changed during that period? Bonds & Loans speaks with Union Privatfonds EM Corporate Debt Head Sergey Dergachev about how African assets figure within his fixed income portfolios.
6 Mar 2018