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Africa

21 Aug 2018   Projects, Africa

Mixta Africa CFO on Affordable Housing Initiative, High Cost of Funding and Advice for Borrowers

With pressure on high-yield assets and non-investment grade credit across EMs, Mixta Africa, an African property developer and fast-rising player in the continent’s real-estate market, is doubling down on its corporate principles – including adaptive product development, low cost land acquisition and establishing local communities – to navigate those challenges. Bonds & Loans speaks with Benson Ajayi, Executive Director and Chief Financial Officer for Mixta Africa about this and more.

African Trade Insurance Agency: Sovereign Debt, Current Account Balances Need Watchful Eye

How is the current macro environment – rising interest rates, a global escalating trade war, and elevated regional sovereign debt – influencing East African markets? John Lentaigne, Chief Underwriting Officer at African Trade Insurance Agency, speaks with Bonds & Loans about the economic outlook in some of the region’s largest economies.

Eskom is Running Out of Options – and so is the Government

Eskom, South Africa’s scandal-plagued state-owned power utility, has embarked on an ambitious overhaul of its balance sheet, governance structure and approach to the markets as it looks to overcome allegations of corruption and mismanagement. Analysts are split on whether it will be enough.

2019 Elections Weigh on Nigeria’s Outlook Despite Broad Economic Improvement

As the debt capital markets continues to deepen in Nigeria and the fundamentals continue to stabilize, upcoming elections and simmering security threats look set to test investor and borrower conviction.

Part II: Idiosyncratic Challenges Weighing on East Africa’s Local Bond Markets Growth

As East African borrowers' access to dollar liquidity, plentiful in the 00s and early 10s, becomes more limited amid central bank tightening across the developed world, infrastructure development looks set to become the new driver for the local debt capital markets in the region. We explore the shift to private markets and potential for new financing instruments in Part 2 of our story.

Idiosyncratic Challenges Weighing on East Africa’s Local Bond Markets Growth

Since the turn of the century, two trends have notoriously characterised African economies: world-leading rates of growth and high external debt. East Africa has been at the forefront of this growth spurt, much of which came from the vast volumes of cheap dollar funding streaming into EMs from the low-yield environment in Western economies post-2008. But as the global EM sentiment turns sour and investors abandon riskier regions, those high levels of dollar credit are becoming unsustainable, and fostering growth of local debt markets is becoming increasingly urgent.

Nigeria SWOT Analysis: Rising Oil and Election Jitters Paint Mixed Picture

Bonds & Loans team arrived on the ground in Nigeria to meet with a broad range of local finance leaders in order to get a sense of the risks and opportunities on the horizon.

EM Bond Outlook: Better 2H 2018 Expected

It has been a tough start to the year for emerging market bonds, but things are looking up as we head into 2H 2018 – you just need to know where to look.

Interview: Mybucks Taking a Lead in Microfinancing Space Across Africa

Financial inclusion has been a challenge that African FIs have struggled to overcome for decades, with vast chunks of the population remaining unbanked to this day. Now a number of microfinance institutions are using fintech tools and disruptive technologies to bridge that gap. Tim Nuy, CEO of Mybucks, spoke to Bonds & Loans about the company’s achievements and goals for this year.

Kenya Pooled Water Fund CEO: The Water, Sanitation Sector is Ready for Green Bonds

A core part of Kenya’s Vision 2030 plan, the water and sanitation sector is driving significant improvements in the quality of life of the country’s citizens, and after years of regulatory review it is only just beginning to open up to private sector funding. Robert Bunyi, CEO of the Kenya Pooled Water Fund talks to Bonds & Loans about why green bonds could help funnel billions of shillings to the sector, and discusses the company’s own issuance plans.

 

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