Sovereign Debt
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
Economics
Nigeria's Central Bank has settled nearly $2 billion of outstanding foreign exchange liabilities including does due to foreign airlines. Why is this important: The recently elected government is keen to create an enabling environment and has taken bold steps to grow the economy through tough decisions like abolishing
Finance
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
Economics
The International Monetary Fund (IMF) projects Mauritania's economic growth will triple in 2025, estimating a 5.1% growth in 2024 and a significant rise to 14.3% in 2025. Why is this important: The expected rise in economic growth is attributed to the first gas production and exports
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
Finance
Sovereign Debt
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
Ethiopia has missed a $33 million coupon payment on its $1 billion Eurobond as of the 22nd of December as the country joins two African countries Ghana and Zambia who have also defaulted on Eurobond within the last three years. Why is this important: This is Ethiopia's only
Briefings
Key Takeaways: Standard Chartered to exit Ivory Coast, Rwanda receives $268 million after IMF second review, Ghana tackles inflation and notable deals. Banking Standard Chartered To Sells Ivory Coast Banking Operation. Standard Chartered, the international banking company is selling its consumer-banking business unit in Africa to Burkina Faso-based Coris Bank
Economics
Ghana has recorded a record 19-month low in November's inflation rate, a rare feat for any African nation. Why is this important: The gradual reduction in the overall inflation rate to 26.4% in November 2023 compared to 35.2% in October 2023 is due to a sustained
Sovereign Debt
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 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