Africa

The advance of global warming, highlighted by the Intergovernmental Panel on Climate Change’s report this week, not only demands that the private sector accelerate efforts to cut carbon emissions. Companies must also adapt to the changing climate – and this will involve interacting in new ways, experts say.

Sonangol, the Angolan national oil and gas company, has mandated Standard Chartered to arrange a term loan after a two year absence from the market.

Angola has signed a $2bn loan from China Development Bank, putting more debt onto the sovereign balance sheet as the country’s oil company seeks to borrow from commercial lenders.

Sonangol, the Angolan national oil and gas company, has entered the loan market after a two year absence, following a rise in oil prices.

Hassan Allam, the Egyptian construction firm and utilities firm, intends to list shares on both the local Egyptian Exchange and in London through the sale of global depository receipts.

Afreximbank was able to launch a $500m five year dollar transaction, pulling in the spread despite what a banker at one of the leads called 'choppy conditions'.

The order book for Afreximbank’s revived five year dollar benchmark had filled with more than $1bn of orders by Thursday lunchtime, according to a banker close to the deal.

Botswana’s diamond industry has received a $125m boost, after a trio of commercial and state-linked lenders have signed a joint risk loan guaranty agreement.

Dmitry Gladkov has been promoted to be Renaissance Capital’s acting global head of investment banking, replacing James Friel.

Ghana is not preparing to issue 100 year bonds this year, according to deputy finance minister Charles Adu Boahen, but has not ruled them out for 2019, although the nation is looking at different opportunities to raise long term capital.

Investors, bankers and traders have lined up to pour scorn on Ghana finance minister Ken Ofori-Atta’s expectations that the country will issue $5bn-$10bn of century bonds before the end of the year, the first part of a plan to sell $50bn of such bonds.

African private placements are expected to rise in the coming months as issuers eschew the high prices of public bonds after the emerging markets sell-off over the summer.