Bonds
Prime Energy, the Kigali-based hydropower company, has issued Rwanda's first Green Bond, valued at $7.3 million. Why is this important: Rwanda will join other African countries taking proactive steps to invest in the needed energy infrastructure and increasing grid connectivity to rural areas while they build their
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
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
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
Bonds
Kenya seems confident they can repay the $2 billion Eurobond due in June. Let's go deeper: The country has a debt profile of around $61.5 billion, which is around 67 per cent of its gross domestic product( GDP), with a 29 per cent currency devaluation against the
Bonds
The African Export-Import Bank (Afreximbank) has successfully acted as a Joint Global Coordinator for the Arab Bank for Economic Development in Africa's (BADEA) first €500m RegS-only senior unsecured social bond. The issue is under BADEA’s new Euro Medium Term Note (EMTN) programme on the London Stock Exchange,
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.
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