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Africa

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  • South Africa’s dollar bonds have managed to scrape through the rout on some of the country’s risk assets, after local media said the deputy president could be removed from his position and tried for treason.
  • SRI
    World Bank president Jim Yong Kim has told Caribbean leaders it is time to think creatively about ways to deal with the region's debt, low growth and the vulnerabilities posed by climate change-provoked disasters. By Lucien Chauvin, Oliver West and Virginia Furness.
  • Kenya’s largest power producer Kenya Electricity Generating Company (KenGen) is looking to raise $300m in the loan market, which the World Bank is providing a $180m guarantee for.
  • The Republic of Egypt is planning to issue a euro denominated bond, its finance minister Amr El-Garhy told GlobalCapital at the IMF Annual Meetings in Washington DC. However, investors are not convinced the sovereign will be able to get the deal done.
  • Fitch took the knife to Gabon’s credit rating after market close on Friday, cutting the creditworthiness of the West African sovereign a notch to B at a time of increasing funding requirements for the country.
  • African countries are moving full steam ahead to develop their economies through Chinese-funded railway infrastructure, hoping faster growth will forestall concerns about the costs and their ability to pay it back.