Bonds
Ghana, the world's second-largest cocoa producer, has started talks with overseas creditors, including BlackRock, Greylock, Amundi, and Abrdn. To begin the talks, Ghana and its international creditors have signed a non-disclosure agreement (NDA) that will prevent the country's largest bondholders from trading the bonds in the
Corporate Debt
South Africa-based car subscription startup Planet42 has secured a $16 million loan from Standard Bank to replace its euro-dominated debt. The company recently raised $100mn to drive its global expansion. The recent funding was co-led by Naspers of South Africa and ARS Holdings, and other existing and new shareholders. US-based
Corporate Debt
South Africa's leading grocer, Pick n Pay, is in renegotiation talks with FirstRand over its loan commitment as it prepares for the IPO of its Boxer Brand. The South African retailer has been facing financial challenges, which have affected its customer engagement and supply chain. It needs an
Bonds
Ecobank Transnational Incorporated (ETI) has signed a $250 million senior bridge-to-bond loan facility led by The African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC), which serve as the Global Coordinators and Initial Mandated Lead Arrangers. The initial twelve-month loan will support Ecobank Transnational Incorporated's trade finance and
Ratings
Moody's upgrades Ivory Coast to Ba2, two levels under investment grade. Deemed one of Africa's promising economies, Ivory Coast has embarked on an economic program over 2023-2026 to ensure macroeconomic stability and boost private investment to grow its economy. The country has also achieved a manageable
Merger and Acquisition
Vivendi SE’s Canal+ French mass media holding company has increased its offer bid to $2.9 billion for MultiChoice the African leading entertainment company. Why is this important: The African pay TV market is expected to grow consistently over the next five years; according to reports from Digital TV
Bonds
Ghanaian banks are experiencing exceptional profitability due to high yields on the country's treasury bills. Monetary policy initiatives by the Bank of Ghana in 2022, including restructuring domestic debt instruments, resulted in losses to domestic bondholders. According to reports by Fitch, the country's banking sector reported
Economics
Egypt expects to generate $55 billion worth of investment in the current fiscal year to boost its economy. The North African country has been facing an ongoing economic crisis, with the Egyptian pound losing around 50% of its value since 2022, high inflation and a budget deficit of 7.0%
Infrastructure Finance
Global data centre and colocation provider Equinix is investing $390 million to build data centres across Africa. Why is this important: The continent's internet penetration worldwide with data consumption expected to increase by 45% annually until 2025. With the continent's growing population, the demand for storage
Economics
Zambia's kwacha has rallied 13.8% to 22.8 against the dollar since the start of this year. Why is this important: The country's central bank, the Bank of Zambia, continues to tighten its monetary policy by raising the monetary policy rate by 150 basis points
Infrastructure Finance
African Finance Corporation (AFC) and the African Export-Import Bank (Afreximbank), in close collaboration with King’s College Hospital, London, have invested $40 million in The African Medical Centre of Excellence, Abuja (AMCE Abuja). Why is this important: Nigeria's healthcare infrastructure remains underdeveloped, with poor healthcare compensation and a
Energy du Mali SA, the state energy company of Mali, is in talks with banks to restructure its 600 billion CFA franc ($989 million) debt. Mali continues to experience incessant power cuts across the country's major cities affecting businesses and key economic activities. The country's energy