Africa
Nigeria: A Struggling Economy Embraces Reform - Part II
Over the past year Nigeria's economy, hit by rising inflation, low FX reserves and deflated oil price, shrank by about 1.6%. But with a better market outlook on the horizon, as evident from the recent success of a US$1bn Eurobond, the Bonds & Loans Nigeria Special Report looks into what 2017 may bring.
13 Apr 2017
Top Dealmaker: Andreas Scheer, Commerzbank AG
Commerzbank AG's Head of Loan Capital Markets, Financial Institutions speaks to Bonds & Loans about the challenges banks and FIs had to navigate in the past year, Afreximbank's success story and the outlook for the sector in 2017.
11 Apr 2017
The Cape Town Shuffle: Rand Plummets as Zuma Sacks Chief Treasurer
The sacking of South Africa’s finance minister and his cabinet prompted another all-too-familiar slide in the rand and bond prices. As his successor takes office, the markets are tentatively awaiting signs about the direction of economic policy.
5 Apr 2017
Nigeria: A Struggling Economy Embraces Reform - Part I
Over the past year Nigeria's economy, hit by rising inflation, low FX reserves and deflated oil price, shrank by about 1.6%. But with a better market outlook on the horizon, as evident from the recent success of a US$1bn Eurobond, the Bonds & Loans Nigeria Special Report looks into what 2017 may bring.
4 Apr 2017
CASE STUDY: Cameroon’s XAF165bn Bond Paves the Way for Fresh Project Investment
Cameroon, a leading economy in the Central African Economic and Monetary Community (CEMAC), successfully issued a XAF165mn bond in the local markets in October 2016, a deal that saw aggressive pricing attract strong regional liquidity.
31 Mar 2017
CASE STUDY: MTN Comes Back from Downgrade to Price at Tight End on US$1bn Bond
African telecoms giant MTN Group overcame bearish sentiment precipitated by last September’s Nigerian sovereign downgrade, along with that of its Nigerian subsidiary, to successfully price a US$1bn dual-tranche bond at the tight end of guidance.
27 Mar 2017
Top Dealmaker: Kobby Bentsi-Enchill, Stanbic IBTC Capital
Kobby Bentsi-Enchill, Executive Director and Head of Debt Capital Markets at Stanbic IBTC Capital speaks with Bonds & Loans about how his clients are managing in a challenging market environment, and what needs to happen in order for the 2017 outlook to improve.
24 Mar 2017
CASE STUDY: Nedbank Pioneers AT1 Instruments in South Africa
Nedbank successfully priced South Africa’s first Tier 1 capital Basel III-compliant securities in 2016, setting the stage for future issuances ahead of the regulatory framework’s introduction in the country over the next year.
23 Mar 2017
Gabon: A Step in the Right Direction
Analysing and investing in Frontier Emerging Markets usually comes with its fair share of challenges; often, these are centred on availability or quality of data, news, language barriers, and finally, accessibility. Gabon is a great example of how these challenges can distort the real opportunities before us, and progress made on key initiatives.
22 Mar 2017
CBK Governor on the Trump Effect, Banking Sector Risks, and the Promise of Green Finance
Having weathered most of 2016 quite well, Kenya faces a number of domestic and external headwinds including a prolonged drought and increasing uncertainty around the future policy direction in the US, UK and Europe. But Patrick Njoroge, Governor of the Central Bank of Kenya believes some of these challenges also present opportunities – to explore further East African policy integration, double…
13 Mar 2017