Africa

  • Egypt turns green but few MENA sovs to follow

    Egypt turns green but few MENA sovs to follow

    The Arab Republic of Egypt is set to become the first Middle East or North African sovereign to sell a green bond. But there are no “obvious suspects” for a follow-on deal, according to those in the market. While green bond issuance is taking root among the region's other borrower classes, the format has yet to grasp the attention of governments for whom, some say, the challenge of being greener is proving too great, writes Mariam Meskin.

  • Stanbic Nigeria raises loan, African FIs remain hot

    Stanbic Nigeria raises loan, African FIs remain hot

    Stanbic IBTC Holdings, the Nigerian subsidiary of Standard Bank, has raised a loan of $150m from a consortium of international lenders, according to bankers. A number of African banks have come to market over the last 12 months, defying economic and country-specific risks to achieve attractive terms on their financing, a trend that is likely to continue.

  • Egypt to issue green bond as MENA's ESG wave builds

    Egypt to issue green bond as MENA's ESG wave builds

    The Arab Republic of Egypt has hired a group of international banks to arrange its debut green bond. Though the deal will be the first sovereign issue of its kind in the Middle East and North Africa region, it adds to a string of green issuance from corporates and banks, which are developing a taste for ESG-linked debt.

  • Creditors pull back from frontier markets

    Creditors pull back from frontier markets

    Frontier market bond issuance dropped in 2019, with sovereign issuance at its lowest figure since 2011, amid signs that private-sector creditors are pulling back from riskier countries.

  • Tanzania raises $1.46bn for railway project

    Tanzania raises $1.46bn for railway project

    Tanzania’s Ministry of Finance has raised a $1.46bn loan — its largest foreign loan to date — to finance the construction of a railway from Dar es Salaam to the centre of the country. The loan is being provided by a number of development banks and credit agencies.

  • Almarai feasts on $100m for MENA expansion

    Almarai feasts on $100m for MENA expansion

    Saudi Arabian food and beverage producer Almarai has secured a $100m loan from the European Bank for Reconstruction and Development (EBRD) to support expansion in Egypt and Jordan.

  • Ninety One seeks FTSE 250 entry after LSE flotation

    Ninety One seeks FTSE 250 entry after LSE flotation

    Ninety One, the asset management division of Investec, has announced its intention to float on the London Stock Exchange, formally launching what is likely to be one of the largest UK IPOs this quarter.

  • People moves in brief

    People moves in brief

    HSBC hires Lahham for MENA corporate finance — Lisanti broadens markets role at Citi — Muscatt joins BMO

Africa News Archive