Briefings
Welcome back to your weekly essential briefing on African finance and why it's important. Today's email: * Sovereign Finance : Ivory Coast get BB- rating, highest in Africa. * Industrials: Safaricom Ethiopia seeks $350 million Debt from IFC. * Marco and Market Matters: Kingdom of Eswatini issues $217 million bond
Trade Finance
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
Sovereign Debt
The International Monetary Fund (IMF) has approved the release of $164.6 million to Rwanda to support the country's ongoing flood relief efforts. The IMF funding will consist of $76.2 million to be released under the Resilience and Sustainability Facility (RSF) and $88.4 million to be
Corporate Debt
The International Finance Corporation (IFC) is considering providing Airtel Africa with a debt financing facility of up to $200 million. Some Context: Airtel Africa plc provides telecommunications, data centres, distribution networks, and mobile money services across 14 West, Central, and East African countries. The company intends to use the new
Private Credit
Egypt-based Beltone Investment Holding (BIH), an affiliate of Beltone Holding, has launched a $100 million private credit platform to support Egyptian exporters. Why is this important: Few private credit offerings exist across Africa, and Beltone's platform provides a unique opportunity in the Egyptian financial markets. The private credit
Briefings
Beltone Investment's $100 million private credit platform, Kenya's $2 billion PPP airport project, and Airtel Africa's $200 million debt facility. In Today's Email: * Corporate Debt: IFC mulls a $200 million debt facility for Airtel Africa. * Private Credit: Beltone Investment Holding launches a
Sovereign Debt
Mali recently reached a staff-level agreement with the International Monetary Fund (IMF) to obtain emergency financing through the Exogenous Shock Window of the Rapid Credit Facility (RCF). Why is this important: The agreement will provide Mali with $120 million (approximately 0.6% of GDP) to support its urgent balance-of-payments (BOP)
Trade Finance
Corporate Debt
Ecobank Transnational Incorporated (ETI) repaid a 5-year, $500 million Eurobond loan that matured last week. Why does this matter: Ecobank is a multinational banking conglomerate that operates locally in 33 African countries. The company's first international debt market entry was a $200 million bond issue, listed on the
Egypt has secured $820 million as the second tranche of the International Monetary Fund's (IMF) loan program. The country has been taking decisive measures to grow its economy, consistently reduce its debt-to-GDP ratio, and increase revenue through deals with some Middle Eastern investors. Despite facing economic challenges similar
Economics
President William Ruto's economic reforms have yielded positive results for the largest economy in East Africa. Why is this important: President Ruto campaigned on a 'bottom-up' economic model that aimed to strengthen the Micro, Small, and Medium Enterprises (MSMEs) economy, create a strong digital superhighway and