Africa

South African telecommunications company MTN Group is holding a non-deal roadshow in Taipei this month.

Steinhoff International, the retail conglomerate listed in Johannesburg and Frankfurt, said on Tuesday that its numbers for 2015 were unreliable and that prior years may also need to be restated.

Emerging market borrowers will front-load their funding tasks in 2018, according to several EM bankers who are predicting a busy month.

For CEEMEA bonds, 2017 was a record breaking year and one which pushed the boundaries of product, tenor, and issuer. The $200bn of bonds raised in CEEMEA, and the $140bn raised in Latin America are the highest annual volumes on record. Investors’ seemingly insatiable appetite for EM debt fuelled massive inflows into the asset class and kept the many idiosyncratic risk events – from Qatar’s regional isolation to deteriorating relations between Turkey and the US– contained. Picking out the deals of the year for 2017 was not easy for GlobalCapital’s editorial team, but after much deliberation the below were chosen.

Nomura has hired Nihal Elkafrawi as head of client coverage for the Middle East and north Africa. She will foster cross-selling opportunities for global markets and investment banking, the bank said in a statement.

Top emerging market bond investors are warning that making strong returns will be much more difficult in 2018, as elections and interest rate risk introduce more volatility into the markets.

How the Schuldschein market reacts when a borrower has payment difficulties has been a perennial question since the instrument reached a global audience. The revelations about possible false accounting at Steinhoff are likely to prove one of the market's biggest tests yet.

Nigeria has become the first government in Africa to issue a green bond, with a N10.69bn ($29m) five year issue led by Chapel Hill Denham, a local investment bank.

Steinhoff International’s shares jolted downwards again today as it met its banks in London, seeking their support to get through the difficulties caused by apparent false accounting.

Moody’s published a cautious note on Tuesday in response to “business-friendly candidate” Cyril Ramaphosa’s slim victory in South Africa’s African National Congress (ANC) presidential elections on Monday. But the agency acknowledged that, if implemented, Ramaphosa’s reform priorities could “begin to address the weaknesses flagged” when the agency put South Africa on review for downgrade.

Savannah Petroleum, the UK oil and gas company focusing on African exploration, has secured a partnership with ASMA Capital Partners, a Bahraini fund manager which invests on behalf of the Islamic Development Bank, as part of its equity capital raising, which is set to be priced today.

Africa Finance Corp, a pan-African multilateral development finance institution (DFI), has closed a $200m loan with five banks.