Africa

Equities bankers are trumpeting a wave of new enthusiasm for Africa and two new deals are set to try to capitalise on this momentum.

Seven new banks have joined Stanbic Kenya's loan, which will be signed on Thursday, leading to a heavy oversubscription, but the borrower declined to take any more money than the $100m it had set out to raise.

Egypt paid a generous spread to access euros on Monday, during a volatile day for emerging market assets.

Yvette Babb, a strategist in JP Morgan’s emerging markets research team, has joined NN Investment Partners.

FirstRand Bank has announced plans for a three day global roadshow ahead of a planned inaugural dollar-denominated tier two issue.

Egypt opened books on its debut dual tranche euro issue on Monday, following investor meetings in Europe last week.

Ghana Cocoa Board (Cocobod) has sent off invitations to its annual financing for its cocoa harvest amid concerns it may struggle to repay its previous loan.

Consol Holdings, the South African glass packaging company, plans to return to the Johannesburg Stock Exchange after filing an intention to float on Thursday.

Three CEEMEA issuers are embarking on roadshows — the Arab Republic of Egypt, Sharjah Islamic Bank and Kazmunaygaz.

Investec Bank plc has signed a A$150m ($115.3m) loan to refinance a loan signed in 2015, attracting a total of 18 banks to the deal — the majority of which came from Asia.

Sanlam, the South African insurer and wealth manager, has raised R5.7bn ($489m) to finance its takeover of Saham Finances, the Middle East and Africa-focused insurance company.

South African bonds started the week on an upbeat note following Moody's announcement on Friday that it would not remove the country’s last investment grade rating.