Sovereign Debt
The International Monetary Fund (IMF) has granted Kenya a new loan of more than $941 million to help support the East African nation through its liquidity issues. Why is this important: Kenya has been facing a host of economic challenges including increasing debt, currency devaluation and a cost of living
Trade Finance
Africa Finance Corporation(AFC) the private sector-led infrastructure investment solution provider and International Islamic Trade Finance Corporation (ITFC) are to provide a $250 million Sharia-compliant trade loan facility to Egypt. Why is this important: Egypt was Africa Finance Corporation's first North African sovereign shareholder, but the country has
Bonds
Ivory Coast the world's largest cocoa producer will sell new international debt to raise funds on the Eurobond market next week. Why is this important: This would be the first Eurobond issue of any Sub-Saharan African since Angola and South Africa's bond sale in April 2022.
Briefings
Plus: Africa Export-Import Bank (Afreximbank) arranges one of Africa's largest syndicated loans, Africa Remittance Markets and the Disruption Opportunities, Standard Chartered's €533 million of sustainable financing and other notable deals. M & A South Africa's FirstRand explores Banking Acquisition across Africa FirstRand Ltd one
Industries
Cadbury Nigeria Plc the food, sweet and drink company has announced plans to convert an outstanding $7.7 million loan from its parent company Cadbury Schweppes Overseas Ltd into equity to reduce higher financing obligations due to the further devaluation of the Naira. Why is this important: Nigeria has undergone
Sovereign Debt
The International Monetary Fund (IMF) seems hopeful that Ghana and its official bilateral creditors will reach a restructuring deal on its $4.5 billion debt soon. Why is this important: Ghana defaulted on most of its external debt in December 2022 and needs to secure a restructuring deal with its
Economics
Nigeria's Central Bank has settled nearly $2 billion of outstanding foreign exchange liabilities including does due to foreign airlines. Why is this important: The recently elected government is keen to create an enabling environment and has taken bold steps to grow the economy through tough decisions like abolishing
Finance
Remittances, the cross-border payments used by the African diaspora community to send money back home to their families and loved ones need disruption by our Fintech heroes. Over 20 million Africans have migrated outside the continent to mostly Europe, North America and Asia in the last two decades based on
Economics
The International Monetary Fund (IMF) projects Mauritania's economic growth will triple in 2025, estimating a 5.1% growth in 2024 and a significant rise to 14.3% in 2025. Why is this important: The expected rise in economic growth is attributed to the first gas production and exports
Bonds
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group Company (PIDG), will underwrite US$50m of Zambia’s first US$53.5m green bond. Why is this important: This is Zambia's first green bond and key solar infrastructure initiative. It will support the country's
Finance
Sovereign Debt
Nigeria's President Bola Tinubu's request to convert the country's N7.5 trillion ($8.2 billion) overdrafts from the central bank to longer-dated bonds has been approved by its lawmakers. Why is this important: The longer-dated bonds will be added to the country’s debt.