Africa
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Heavy debt burdens are forcing African countries to either renegotiate loan terms with China, or ask for debt forgiveness, with some blaming China’s lack of attention to debt sustainability.
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Banque Ouest Africaine de Développement (BOAD) was able to tighten pricing beyond guidance on a 12 year bond, one of its longest dated issues, this week. -
The African Export Bank (Afreximbank) has confirmed its intention to float on the London Stock Exchange, paving the way for a $250m IPO.
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Shares in Helios Towers, the African telecommunications infrastructure company backed by George Soros and Madeleine Albright, rose as much as 4.3% following their debut on the London Stock Exchange on Tuesday morning, despite a jittery market that has seen numerous IPOs pulled or trading below their offer prices.
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Standard Bank is expected to raise $1bn in the loan market, up from an initial target of $500m, and slash the pricing of a three year loan by roughly 30bp.
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Banque Ouest Africaine de Développement (BOAD) is set to return to the capital markets for the first time in over two years, sounding out investors for a long end dollar benchmark. The trade will follow a euro dual trancher from the Ivory Coast sovereign.
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The African Export Bank (Afexrimbank) has filed initial paperwork before a potential float on the London Stock Exchange.
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Ivory Coast has bolstered loans bankers' expectations that African sovereigns will become a rare source for growth in the market, closing a €300m seven year loan.
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Less than a decade ago Egypt was deemed a no-go zone by many private sector investors, but now it’s an investment hotspot. We asked Sahar Nasr, Egypt’s Minister of Investment and International Co-operation, to explain what’s behind the turnaround
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Egypt’s banking system has undergone a transformation. Supported by strong economic growth and a root-and-branch reform programme put in place over the last two decades, the country’s financial institutions are now pulling their weight, providing a vital lubricant for Egypt’s economic success
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Egypt has reached a pivotal point in its new phase of economic development. For the fastest growing economy in the Middle East, and the biggest investment magnet in Africa, the task is to build on deep reforms to create a more business friendly environment, attract fresh investment and create meaningful jobs for the poorest Egyptians.
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