Africa
African debt issuance dries up – for now
The scarcity of corporate bond issuances across Sub Saharan Africa follows a lack of sovereign issuance, with South Africa being the only country in the region to issue on the international markets this year. It appears that many corporates are reassessing their capital expenditure plans and funding needs, while states planning debt sales may wait until after a US interest rate rise.
19 May 2016
South African market volatility to intensify in coming weeks
The rand opened weaker on Monday and stayed relatively depressed Tuesday as market uncertainty increased following reports over the weekend that South Africa’s Finance Minister would be arrested. Analysts say the volatility is likely to intensify in the weeks to come.
17 May 2016
Financing Africa’s Infrastructure Pipeline
Most African economies look set to have a tough year ahead but one thing seems to remain consistent, whether in North, East, West or Central and Sub Saharan Africa: the thirst for infrastructure investment. According to the World Bank, Africa’s infrastructure deficit is estimated at US$38bn of investment per year and a further US$37bn per year in operations and maintenance. The total required…
16 May 2016
Lafarge Africa looking to cement bond deal
Lafarge Africa is looking to tap Nigeria’s local currency debt markets to fund the acquisition and service the debts of another company it has taken over. Currency volatility and unfavourable yields contributed to the decision to issue in naira, as the depth of the local market provided a larger investor base.
3 May 2016
CFO View: Eskom’s Anoj Singh on South Africa’s Capital Markets
Anoj Singh currently serves as Chief Financial Officer at Eskom Holdings SOC Ltd., where he leads the utility’s financial strategy. Before joining Eskom, Singh served as CFO of Transnet SOC Ltd., a large South African rail, port and pipeline company, and worked for food retail Group Spar and Deloitte & Touche.
3 May 2016
Nigeria offers lifeline to states
Certain states within Nigeria are struggling to repay their debts to such an extent that the federal government has intervened to financially assist them.
26 Apr 2016
Mozambique in hot water over undisclosed borrowing
The failure of Mozambique to declare a substantial amount of borrowing has overshadowed the successful EMATUM restructuring and threatens the country’s ability to access foreign financial support on which it heavily relies.
25 Apr 2016
Eskom set to receive loan
South Africa’s Eskom will receive a loan from the New Development Bank. The transaction highlights the vital role that Development Finance Institutions play in African infrastructure projects, but also raises questions over why a corporate connected to the state would need to access external funding.
25 Apr 2016
Video: Tony Leon, Former DA Leader, Republic of South Africa
How has political mismanagement impacted South Africa?
20 Apr 2016
Video: Pieter Henning, CFO, Sibanye
How is gold market volatility impacting mining opportunities in Africa?
19 Apr 2016