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CFO Insights

Turkcell CFO: Building Resilience to Market Volatility is Core Treasury Objective

After enduring significant volatility in 2018, many Turkish corporates are struggling to keep their balance sheet in order and retain access to affordable financing. Some, however, like Turkcell – the country’s largest telecommunications operator – are bucking the trend. Bonds & Loans speaks with Osman Yilmaz, Chief Financial Officer of Turkcell about the company’s shift towards an asset-light…

10 Jul 2019

Growthpoint Treasurer: Internationalisation, Funding Innovation in Focus as Economy Stays Soft

When the economy suffers, real estate is often among the first sectors to feel the pinch – and South Africa, where growth has stagnated amidst a hitherto volatile political landscape, is no exception. As the country’s recent election outcome heralds renewed optimism in the economy, we speak with Dirkje Bouma, Group Treasurer at Growthpoint Properties Limited, one of the country’s leading real…

26 Jun 2019

4G Capital CEO Talks Co-opetition with Traditional Lenders in East Africa

East Africa continues to be a world leader in the mobile banking space. Consumers across the region are now able to access an array of financial products through their smartphone, from online payment services to micro loans, enhancing financial inclusion for a largely underbanked population. Bonds & Loans speaks with Wayne Hennessy-Barrett, CEO of 4G Capital, a FinTech providing a combination of…

20 Jun 2019

Off the Record in Kenya: Private Equity, Banking Consolidation, and a Blossoming FinTech Sector

The last three years have been tough for Kenyan banks and corporates. The introduction of the interest rate cap in 2016 sapped liquidity, leaving many corporates deprived of financing. But the last few years have also seen the blossoming of new liquidity pools including private equity and mobile lenders, which are beginning to claw market share away from banks, according to CFOs and bankers who…

13 Jun 2019

Off the Record: Peru’s Miners See CSR, ESG, Innovation as Key to Unlocking Funding

As Brazil braces for another tailing dam collapse, Miners & Investors talked with Peruvian majors’ CFOs and their investors about the industry’s challenges and opportunities for the year ahead. Majors demonstrated healthy financing positions with low expansion pipelines; juniors, on the other hand, continued to explore alternative financing in a dry equity market. All made mention of social…

12 Jun 2019

CASE STUDY: Almarai’s USD500mn Issue Marks First Corporate International Sukuk out of Saudi

The benchmark-sized international debut sukuk received more than USD5bn worth of orders – a similar level of oversubscription to the recent Saudi Aramco jumbo bond, a tremendous start to the Saudi dairy giant’s new USD2bn Islamic finance programme.

21 May 2019

Buoyant Markets Herald Strong Start for GCC Credits in 2019: Where Next for the Region?

With further bond index inclusion on the horizon and oil prices holding steady, CFOs and Treasurers are optimistic about the GCC region’s credit market prospects. But the accelerated pace at which today’s markets are evolving is reducing long-term visibility and raising questions over the kind of macro and monetary policy environment borrowers and investors are likely to find themselves in going…

16 May 2019

Total Eren: ECAs Key to Argentine Power Funding as Banks Sit Out the Volatility

RenovAr, Argentina’s flagship solar and renewables programme, has struggled in recent months due to the severe macroeconomic challenges weighing on the country. But as the country’s markets stabilise, developers focused on the region remain cautious as upcoming elections later this year could result in a change of direction. We speak with Martin Parodi, Managing Director, Total Eren Argentina,…

14 May 2019

Turkey Looks East for Much-Needed FDI Boost

Asian investors are being sought as natural candidates for a revival of foreign investment in Turkey, according to CFOs, bankers and investors who spoke with Bonds & Loans on a recent research trip to Istanbul. Whether investors in the Far East oblige is another question entirely.

3 May 2019

Scrapped New City Airport, Struggling Pemex Dominate Discussions at HSBC Mexico Roundtable

Mexican borrowers are gradually adjusting to the new market environment that has emerged since the inauguration of Andrés Manuel López Obrador, and amid broader emerging market volatility driven by the rise in global interest rates. Nevertheless, CFOs at a Breakfast Roundtable hosted by HSBC and Bonds & Loans in Mexico in February have raised important questions about some of the new…

21 Mar 2019

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