Briefings
Your weekly essential briefing on African finance. Sign up for our free weekly newsletter to access exclusive insights designed for Africa-focused finance professionals, business leaders, international institutions, and policymakers. Good day. In today's email : The Demand for an African Credit Rating Agency, Guan Chong Berhad Acquires 25% of
Ratings
The African Development Bank, Prosper Africa (a U.S. presidential initiative), and the United States Department of the Treasury have agreed to create an African online credit rating data platform with a $700,000 grant. Why does this matter : Several African countries have recently been accessing international credit markets to
Finance
Guan Chong Berhad (GCB), a Malaysia-based cocoa manufacturer and the fourth-largest cocoa grinder globally, is poised to acquire a 25% stake in Transcao Côte d’Ivoire (Transcao CI), a Côte d'Ivoire -based cocoa manufacturer, for a sum of US$28.9 million. Why does this matter: Côte d&
Analysis
Lagos, Nigeria's economic and entertainment capital, has set an example for many African cities to boost their tourism industry, as demonstrated by the recently concluded Detty December. Why does this matter: Despite high inflation and a soaring cost of living, the month-long event generated $71 million, which underscores
Ratings
Moody's has expressed a positive outlook on sub-Saharan Africa's growth prospects, emphasising the significance of energy and infrastructure investments in supporting the region's economic development. Why does this matter: South Africa is prioritising infrastructure development in the energy, water, and transport sectors to enhance
Finance
Yields for Africa Sovereign Dollar Bonds, tracked by the Standard Bank Africa Sovereign Yield Index, have reached a record high of 9.15%, according to Bloomberg. Why does this matter: In recent years, African nations have increasingly turned to the Eurobond market to secure funding needed to address budgetary shortfalls
Finance
South Africa's Tyme Bank has achieved the coveted status of African Unicorn after raising $250 million in Series D funding, reaching a valuation of $1.5 billion. Why does this matter: Most of Africa's unicorns have emerged from the fintech sector, as these startups address the
Finance
Guinea is set to join a growing list of African countries, establishing a Sovereign Wealth Fund (SWF). Why does this matter: Guinea is home to some of the world's largest and highest-grade iron ore reserves. As the government works to monetise these resources, it plans to invest the
Insights
Middle Eastern investors are increasingly focusing on investment opportunities in Africa. Why does it matter: This strategic shift is mainly due to the continent's rapid economic growth and demographic advantages, which include a youthful population, significant urbanisation, a growing middle class, and an improving business environment for foreign
Bonds
The Arab African International Bank (AAIB), based in Egypt, has launched a groundbreaking $500 million sustainability bond. Why does this matter: This marks Egypt's first and only sustainability bond, highlighting the country’s increasing dedication to sustainable development and the transition to renewable energy. The fund mainly focuses
Nigeria has made a notable return to the international capital markets after more than two years of absence, launching a $2.2 billion Eurobond issue to secure funding that addresses its fiscal deficit. Why does this matter: This move aligns with a trend in several other African countries, including Ivory
IHS Holdings Limited, the largest independent owner, operator, and developer of shared telecommunications infrastructure in Africa has successfully raised an impressive $1.2 billion through an oversubscribed issuance. This funding milestone underscores the rapid expansion of Africa's digital landscape, where the demand for connectivity and infrastructure is increasingly