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Africa

Eurasia Group: Balance Between Diversification and Fiscal Consolidation Key for Southern Africa

Sub-Saharan Africa has progressed in strides over the past two decades, but rapid debt accumulation, political instability and impact of global market volatility has led to souring near-term sentiment on the region. Bonds & Loans discussed these and other topics with Darias Jonker, Director for Southern Africa at the Eurasia Group.

30 Jan 2019

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

EM FX ended the week on a soft note, as the dollar remains resilient. While a softer US interest rate outlook benefits EM, we think this is offset by the deteriorating global growth outlook. The IMF will release its updated World Economic Outlook Monday, which is likely to highlight the growing downside risks.

21 Jan 2019

Duet Group: “Frontier Countries Growing in Spite of Governments, Not Because of Them”

In an exclusive interview with Bonds & Loans, Joe Delvaux, Senior Fund Manager at Duet Asset Management, delves into frontier markets, assessing their performance in 2018, providing insight into investor sentiment on broader EM assets, and takes a glimpse into what 2019 might bring.

14 Jan 2019

S&P Global: From Rwanda to South Africa, External Risks Trump Idiosyncratic Challenges

Gardner Rusike, Sovereign Analyst at S&P Global, offers a brief outlook assessment of Africa’s largest markets and examines the challenges and opportunities facing the continent in 2019.

9 Jan 2019

Gabon: Political Turmoil Delays Essential Hydrocarbons Code Revision

As Gabon is the fifth largest oil producer in sub-Saharan Africa, the health of its economy is tied to its hydrocarbons industry. But since the 2014 oil crash, the legislation currently governing the sector has been wholly unsuitable. Now, the government is hoping to woo international oil companies (IOCs) by revising the code; but the President’s recent illness, along with a failed coup attempt…

7 Jan 2019

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

EM FX ended the week on a firm note as stronger than expected US jobs data fed into risk-on sentiment. Fed Chair Powell also added to the positive sentiment Friday as he addressed basically every area of concern that the markets have had with the Fed. US rates backed up but not by enough to lend the dollar much support. In this current “wait and see” period regarding the US economy and the Fed,…

7 Jan 2019

Emerging Markets in 2019: What’s in Store for The Asset Class?

This year was not particularly forgiving for emerging market assets. Rising US interest rates and a strengthening US dollar coupled with a wider shift from quantitative easing to tightening led to broad-based repricing across the investment landscape. It was also a year that saw political and policy uncertainty, trade wars, and commodity and asset price volatility weigh heavily on market…

28 Dec 2018

Brown Brothers Harriman: Emerging Markets Preview for the Week Ahead

Global growth concerns are likely to keep EM on its back foot. China and the eurozone reported weak economic data Friday, and even a much stronger than expected US retail sales report was not enough to turn market sentiment.

17 Dec 2018

Airport Company South Africa Group Treasurer on Avoiding the SOE Governance Scandals

Following the far-reaching state-capture allegations two years ago, many of South Africa’s state-owned companies continue to make the headlines for all the wrong reasons. Aubrey Matlabe, Group Treasurer for Airport Company South Africa (ACSA) tells Bonds & Loans about how the organisation has managed to duck this trend, and dives deeper into the company’s current funding plans, its bid for…

12 Dec 2018

CASE STUDY: Enel Gives Wind to First Project Financing in South Africa’s Local Renewables Market

Nedbank and ABSA Bank were instrumental in helping Enel’s Green Power Division secure ZAR14bn financing for 5 wind farm projects across the country, enhancing the deal with innovative features including a tailored shareholder structure and cross-collateralization between the sub-portfolios.

10 Dec 2018

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