The COP28 summit in UAE is still going on with a lot of dealmaking like Kenya signing deals worth $4.48 billion for seven green projects, including geothermal generation plants, fertiliser production, and a renewable energy-powered data centre. Other activities this week in Africa Finance include Zimbabwe's Debt Headache, the
South Africa's Eskom the country's utility group has seen an improvement in its creditworthiness with the recent upgrade by S&P Global Rating “B” from “CCC+” over its secured and unsecured debt. The rating firm also upgraded the national scale rating to ‘zaBBB/zaA-2’ from ‘zaB/zaB’. The South African
Business
Cinema experiences, Social media, Gaming, Movie production and Streaming videos are shaping Africa's entertainment industry leading to new business models and an evolving ecosystem. Highly skilled African filmmakers are attracting new international attention as they produce content telling the African story. The continent's film industry is positioning itself for growth
Islamic Banking in Egypt shows impressive growth, AfricaGoGreen raises $150m, South Africa issues new $1.1 billion Sukuk Bond, IFU invests €21 million in Morocco-based Healthcare provider, Banking Updates and Notable deals of the week. Sustainable Finance AfricaGoGreen Fund completes interim close of $150m. AfricaGoGreen Fund AGGF a Fund initiated
Briefings
Key Takeaways: Africa Export-Import Bank (Afreximbank), has signed many deals, Cameroon reviews plans for its $333.2 million bond issue and Kenya got an extra $938 million to meet Eurobonds commitments. Sovereign Debt Cameroon rescinds $333.2 Million International Bond Issuance till 2024. The Cameroonian government has decided to rescind
Finance
Africa Data Centres are becoming an alternative asset class as the continent’s digital infrastructure ecosystem which includes fibre-optic broadband expansion and telecom towers grows due to increased mobile data consumption, a vibrant tech sector, high cloud computing and social media usage. Why it matters: According to a report by
Briefings
Key Takeaways: Saudi Arabia to invest in African countries, Kenya to pay back $300m Eurobonds, Africa Credit Markets Brief and Notable deals of the week. Investments Saudi Arabia’s $ 700 billion Public Investment Fund plans investments in African countries. Saudi Arabia recently hosted its Saudi-Arab-African Economic Conference in Riyadh fostering
A leading source of Africa-focused financial news, analysis and data-driven intelligence.
Key Takeaways • Africa commodities platform gets $26.5 million investment and chemical sectors. • Nigerian Banks Take on Fintechs • Notable deals of the week. African Commodities platform gets $26.5 million investment from British International Investment. The UK’s development finance institutional (DFI) and impact investor British International Investment (BII) has
Generates $157 Billion through Digital Banking Transaction Nigerian banks are longer just maintaining the status quo of traditional banking, they are seeing fast-emerging opportunities across the digital banking value chain, and positioning for a share of the growing market. Three of Nigeria's Tier-1 banks namely Access Holdings. Guaranty Trust Holdings
* The economy of world's largest producer of cobalt is expected to rise by 6% this year. * Global demand for Cobalt continues to increase The Democratic Republic of the Congo (DRC), The world’s largest producer of cobalt and the IMF have agreed the fifth review of the three-year Extended Credit
Key Takeaways: Ghana gets the next $3 billion IMF credit facility, Africa Bank buys Sasfin’s, Sony commits $10 million to Africa's Entertainment Industry and Notable deals of the week. Sovereign Debt Ghana gets next tranche of $3 billion IMF credit facility. The International Monetary Fund and The government of
Not many African Conglomerates have grown to dominate their local and regional markets without engaging the public capital market for financing. Though this trend continues, the maturation of Africa’s private capital markets has grown over the last two decades, with more financing opportunities to companies at varying stages of
With high energy potential, Africa faces imperative challenges in providing sustainable energy to its citizens. Over 640 million Africans do not have access to power, with constant electricity blackouts costing the continent as much as 4% of GDP. In sub-Saharan Africa (excluding South Africa) the electricity access rate is over
Data is everything, especially in Africa where its internet economy is growing at a fast rate leading to significant demand for data infrastructure and cloud base services. The nature of the demand cuts across key sectors of the economy such as financial services, healthcare, technology, businesses and government agencies with
Ghana needs an urgent resolution to its external debt crisis to unlock the $ 3 billion IMF bailout for the country, but this comes at a price, first the implementation of severe austerity measures and second an agreement with its international creditors, neither of which are easy options, hence recent twists
