Africa’s bond rush: Handle with care

ECO-opia

 

Quantitative easing helps float Africa’s infrastructure, but

Ethiopia’s internally funded Renaissance Dam an exception

 Ethiopia T                                                                           By Adam Green   

African governments must use bond revenues to address critical growth constraints, while global conditions are in their favour.

Sub-Saharan Africa has a $7bn potential bond pipeline in 2013. Zambia and Rwanda recently issued heavily over-subscribed bonds, and analysts anticipate issuances from Nigeria, Angola, Ghana (its second), Kenya and Zambia (again). Tanzania has hired a rating adviser as a precursor to a bond issuance in due course, with Mozambique an outside bet.

This is only partly a response to the continent’s robust growth. Low yields elsewhere (especially in the eurozone and the US) – as well as excess global liquidity due to quantitative easing – are the global trends pushing bond-hunters to Africa. “There is a lot of excess liquidity internationally and some of that is being used to buy high-yielding assets…

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About meon lic

You've gotta dance like there's nobody watching, Love like you'll never be hurt, Sing like there's nobody listening, And live like it's heaven on earth It is better to be hated for what you are than to be loved for what you are not Life is like riding a bicycle. To keep your balance, you must keep moving,,,,,,,thats all about my imaginations call me at Click to video call me  ooVoo Video Chat
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2 Responses to Africa’s bond rush: Handle with care

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