Finance - Africa Finance Review

Cameroon Issues $500million Bonds in Private Placement.

Cameroon has recently made its debut in the international credit markets through the issuance of $500 million in bonds. Despite the heightened interest rates, these bonds have garnered significant demand from various African nations namely Kenya, Ivory Coast, Senegal since the outset of 2024, thereby bolstering fiscal capabilities and enabling

Private Credit

d.light secures $176 Million Multi-Currency Securitisation Facility

d.light, a leading provider of solar-powered products and financial services for low-income households, has successfully secured a substantial $176 million securitisation multi-currency facility from Africa Frontier Capital, a prominent social impact-focused asset management firm. Why is this important: This funding will directly benefit an estimated six million individuals across

Moody's Completes Acquisition of African Credit Rating Agency GCR Ratings.

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Merger and Acquisition Featured

Moody's Completes Acquisition of African Credit Rating Agency GCR Ratings.

Africa Energy Bank: A Potential Game-Changer

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Banking

Africa Energy Bank: A Potential Game-Changer

Trade Finance

African Development Bank (AfDB) and Banque Centrale Populaire (BCP)sign $70million Trade Finance Agreement.

The African Development Bank (AfDB) and Banque Centrale Populaire (BCP) have agreed on a $70 million risk-sharing agreement (RSA) to provide trade financing for the private sector across Africa. This agreement will address the urgent trade financing needs for small and medium-sized enterprises (SMEs) across the continent by limiting the

Bonds

Kenya confident of repaying $2bn Eurobond due in June

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

Finance

What Mastercard sees in MTN's $5.2 billion Fintech Business

Global financial services firm Mastercard has acquired a minority stake in the Fintech business of MTN Group Limited, the South African multinational corporation and mobile telecommunications provider. Let's go deeper: MTN's CEO indicated last year that the company was willing to sell 30% of the fintech

Bonds

Afreximbank acts as Joint Global Coordinator on BADEA‘s first €500M Social Bond

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,

Eurobond

Nigeria Targets $1.5 Billion Eurobond Return

Nigeria is looking to join the Ivory Coast in returning to the Eurobond markets as it seeks to raise $1.5 billion according to Bloomberg. Why is this important: Nigeria is facing a dollar scarcity problem with almost $2 billion of Fx backlog settled recently. The dollar shortage is putting

Trade Finance

Africa Finance Corporation Issues $250 million Sharia-law Compliant Trade Loan to Egypt.

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

Sovereign Debt

IMF Hopeful Ghana and Its Bilateral Creditors Will Secure a Deal Soon

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

Finance

Africa's $56 Billion Remittance Market Needs a Fintech Disruption

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

Bonds

EAIF Underwrites Zambia's First Green Bond With $50m Investment

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

The Rise of Africa's Sovereign Wealth Funds

Africa Sovereign Wealth Funds (SWF) have grown since the first one Botswana’s Pula Fund was established in 1994, with the total assets managed by African SWFs rising to US$ 97.9 billion. State governments continue to create these special-purpose investment funds using revenue from mineral resource exports, government finances

Sovereign Debt

Nigeria converts $8.2 billion overdrafts to longer-dated bonds

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.

Sovereign Debt

Somalia Gets $4.5 Billion in Debt Relief.

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 to Establish Sovereign Wealth Fund.

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

Fintech

Nigerian Banks take on Fintechs

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

Sovereign Debt

Ghana’s Sovereign Debt - New twists and turns.

Ghana needs an urgent resolution to its external debt crisis to unlock the $ 3 billion IMF bailout for the country, but this comes at a price, first the implementation of severe austerity measures and second an agreement with its international creditors, neither of which are easy options, hence recent twists