Sovereign Debt
Somalia has received US$4.5 billion in Debt Relief from the International Monetary Fund (IMF), the World Bank, and bilateral and commercial creditors. The debt relief was approved under The Group of Twenty (G20) major economies’ Heavily Indebted Poor Countries (HIPC) programme. Why is it important: The approved debt
Sovereign Wealth Fund (SWF)
Mozambique is to join other African countries to create a sovereign wealth fund using revenues from its LNG exports. According to the country's finance minister, projections showed that at their peak in the 2040s, the state is expected to receive more than $6 billion a year from gas
Briefings
Plus Senegal is to start its first sustainable financing, Ghana's Koa gets new funding, Societe Generale is to sell its two operations in Mozambique and Burkina Faso and other notable deals. First time reading? Subscribe here As always, please send us feedback at info@africafinancereview.co Sustainable Finance
Briefings
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
Ratings
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
Industries
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
Briefings
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
Industries
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
Briefings
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
Fintech
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