Africa Finance Review (Page 2)

Africa Finance Review

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This Week in Africa Finance

This Week in Africa Finance

Today's email: * Fixed Income: WAEMU Countries raise $239.8 million in Fixed Income * FDI: Ethiopia nears $3.5 billion FDI goal. * Marco and Market Matters: South Africa keeps interest rate. * Infrastructure and Project Finance: Asian Infrastructure Investment Bank to invest $1 billion in Africa. * Deals: Unmissable deals of

This Week in Africa Finance

This Week in Africa Finance

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

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

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

Rwanda secures $164.6 million in vital financing from the IMF.

Rwanda secures $164.6 million in vital financing from the IMF.

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

IFC Considers $200Million Debt Investment in Airtel Africa.

IFC Considers $200Million Debt Investment in Airtel Africa.

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

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

Egypt's Beltone Investment Holding Launches $100Million Private Credit Platform

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

This Week in Africa Finance

This Week in Africa Finance

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

IMF and Mali Agree On $120 Million Rapid Credit Facility.

IMF and Mali Agree On $120 Million Rapid Credit Facility.

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)

Morocco's OCP Group's $2 Billion Dual-Tranche Eurobond 3.1 Times Oversubscribed.

Morocco's OCP Group's $2 Billion Dual-Tranche Eurobond 3.1 Times Oversubscribed.

Afreximbank Secures $350 Million Trade Finance Commitments.

Afreximbank Secures $350 Million Trade Finance Commitments.

Ecobank Repays $500Million 5-Year Eurobond Debt.

Ecobank Repays $500Million 5-Year Eurobond 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 Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

Egypt Receives $820 Million From IMF's Extended Fund Facility (EFF) Deal.

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

Kenya: The Rise of Rutonomics

Kenya: The Rise of Rutonomics

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

Ghana Yet To Restructure $13 Billion Debt with International Bondholders

Ghana Yet To Restructure $13 Billion Debt with International Bondholders

Ghana still needs to secure a restructuring deal for its $13 billion debt with its International bondholder. Why does this matter: Ghana is currently facing economic challenges and is working to resolve them. One of the significant issues is agreeing on a restructuring deal for its $13 billion debt with

Global and Domestic Investors Expressed Confidence in Ethiopia's New Securities Exchange with $26.6 million Investment.

Global and Domestic Investors Expressed Confidence in Ethiopia's New Securities Exchange with $26.6 million Investment.

Global and domestic investors in Ethiopia are expressing confidence in the country's new securities exchange in its new fundraising, which has already exceeded expectations. Why is this important: The exchange will provide investors and companies with the much-needed critical financial infrastructure and platform to trade securities, enabling them

South Africa's Leading Chicken Producer Daybreak Farms Seeks $13.3 Million Debt.

South Africa's Leading Chicken Producer Daybreak Farms Seeks $13.3 Million Debt.

Daybreak Farms, one of the largest chicken producers in South Africa, with a market share of over 7%, is planning to raise 250 million rand ($13.3 million) in debt. Why is this important: The company, owned by Africa's largest fund manager, Public Investment Corp, has had challenges

Kenya's Economic Reforms Attracts Record Capital Market Investment from BlackRock.

Kenya's Economic Reforms Attracts Record Capital Market Investment from BlackRock.

The ongoing economic reform implemented by President William Ruto's government has boosted Kenya's stock market and instilled confidence in international investors. Let's go deeper: Kenya's current debt profile is approximately $61.5 billion, 67% of its Gross Domestic Product (GDP). Due to

International Creditors Extend Ethiopia's Time to Complete IMF Support Deal.

International Creditors Extend Ethiopia's Time to Complete IMF Support Deal.

Ethiopia has been granted an extension until the end of June by its international creditors, The Paris Club, to secure a bailout deal with the IMF as reported by Reuters. The big picture: This comes after the country missed a $33 million coupon payment on its $1 billion Eurobond due

Uganda Gets First Islamic Banking- Compliant Financial Institution.

Islamic Finance

Uganda Gets First Islamic Banking- Compliant Financial Institution.

Salaam Group the Djibouti-based banking institution, has launched Uganda's first Islamic banking-compliant financial institution. Why is this important? Most African countries have a vibrant Islamic banking sector compared to Uganda's, which has 14% of its population as Muslims. Creating a new Islamic bank in Uganda presents

Africa Finance Corporation secures $1.16 billion in its largest-ever syndicated loan to meet Africa's Infrastructure financing needs.

Infrastructure Finance

Africa Finance Corporation secures $1.16 billion in its largest-ever syndicated loan to meet Africa's Infrastructure financing needs.

Africa Finance Corporation(AFC), the private sector-led infrastructure investment solution provider and multilateral development financial institution, has secured a record $1.16 billion in its largest-ever syndicated loan. Why is this important: According to the African Development Bank, Africa has an infrastructure financing gap of $108 billion needed to achieve

Zambia Agrees Historic $3.5 billion Debt Restructure Deal with Private Creditors.

Zambia Agrees Historic $3.5 billion Debt Restructure Deal with Private Creditors.

Zambia has taken significant steps to improve its debt with a new $3.5 billion debt restructuring deal with its Eurobond holders. Why is this important: Zambia, Africa's largest copper producer, defaulted on its $18.6 billion external debt in 2020 and has since failed to reach an

This Week in Africa Finance

This Week in Africa Finance

Plus: Indorama secures $1.25 billion investment, Uganda's gold exports grows 10-fold, Actis acquires Swiftnet. Happy Monday! Hope you had a good weekend , We have more dealmaking activities , developments and trends from last week that have shaped Africa's financial landscape . Don't forget to share

IFC and Partner Investors Provide $1.25 Billion Investment In Nigeria's Indorama Eleme Fertilizer and Chemicals.

IFC and Partner Investors Provide $1.25 Billion Investment In Nigeria's Indorama Eleme Fertilizer and Chemicals.

The International Finance Corporation( IFC) an arm of the World Bank, has led a group of investors in providing a $1.25 billion financing package to Indorama Eleme Fertilizer and Chemicals Limited in Nigeria. Why is this Important: The Port-Harcout based Indorama Eleme Fertilizer and Chemicals is Sub-Saharan Africa'

Why Mozambique's new Sovereign Wealth Fund is a big deal.

Sovereign Wealth Fund (SWF)

Why Mozambique's new Sovereign Wealth Fund is a big deal.

Mozambique's council of ministers recently approved creating the country's new sovereign wealth fund legislation. Why is this important: Most African countries are creating sovereign wealth funds to manage the monetisation of their natural resources. In Mozambique's case, the gas-rich discoveries of up to 150tr

Uganda's gold exports grows by 10-fold to $2.3 billion in 2023.

Uganda's gold exports grows by 10-fold to $2.3 billion in 2023.

Uganda's gold export has grown 10-fold over the last twelve months to $2.3 billion in 2023. Why is this important: According to data from the Central Bank of Uganda and reported by Reuters, the country's gold export rose to $2.3 billion in 2023 compared