Foreigners have piled into Zambia’s local bond market following the government’s move to lift a cap on non-resident participation in debt auctions, as money shifts from dollar-denominated assets into higher-yielding investments.
Foreigners have piled into Zambia’s local bond market following the government’s move to lift a cap on non-resident participation in debt auctions, as money shifts from dollar-denominated assets into higher-yielding investments.
A street currency dealer counts out Zambian kwacha banknotes at a bus station in Lusaka, Zambia, on Friday, Feb. 23, 2024. Zambia’s currency is in its longest winning streak in nearly a year, supported by an unexpectedly large interest-rate hike and a decree that local banks hold back more funds in reserve. Photographer: Luke Dray/Bloomberg
Emerging-market currencies and stocks clocked in a fifth session of gains after the Federal Reserve fulfilled market expectations by keeping interest rates steady on Wednesday.
Emerging-market currencies and stocks clocked in a fifth session of gains after the Federal Reserve fulfilled market expectations by keeping interest rates steady on Wednesday.
Trump’s relaxed tone about the dollar selloff is fueling speculation the US currency.
Angola is weighing plans to issue a $1.7 billion bond on international capital markets this year, joining a list of prospective issuers across the continent from Kenya to the Democratic Republic of Congo.
Angola is weighing plans to issue a $1.7 billion bond on international capital markets this year, joining a list of prospective issuers across the continent from Kenya to the Democratic Republic of Congo.
Emerging-market currencies and stocks clocked in a fifth session of gains after the Federal Reserve fulfilled market expectations by keeping interest rates steady on Wednesday.
Emerging-market currencies and stocks clocked in a fifth session of gains after the Federal Reserve fulfilled market expectations by keeping interest rates steady on Wednesday.
Trump’s relaxed tone about the dollar selloff is fueling speculation the US currency.
Senegal has been left as the only African nation with a sovereign risk premium in distressed territory after yields on the debt of Mozambique and Gabon narrowed relative to US Treasuries.
Senegal has been left as the only African nation with a sovereign risk premium in distressed territory after yields on the debt of Mozambique and Gabon narrowed relative to US Treasuries.
The Democratic Republic of Congo is preparing to raise $750 million in April with its first international bond sale, and will use the proceeds to fund infrastructure projects.
The Democratic Republic of Congo is preparing to raise $750 million in April with its first international bond sale, and will use the proceeds to fund infrastructure projects.
Democratic Republic of Congo’s Finance Minister Doudou Fwamba Likunde Source: Democratic Republic of Congo Finance Ministry
Ninety One Plc sees Africa’s broad bond market, a corner of emerging markets once shunned because of its economic risks, as an opportunity for investors looking for bigger returns.
Ninety One Plc sees Africa’s broad bond market, a corner of emerging markets once shunned because of its economic risks, as an opportunity for investors looking for bigger returns.
Emerging-market stocks were little changed as ambitious spending plans by Taiwan Semiconductor Manufacturing Co, the world’s largest chip-maker, lifted sentiment for AI-linked shares across the world.
Emerging-market stocks were little changed as ambitious spending plans by Taiwan Semiconductor Manufacturing Co, the world’s largest chip-maker, lifted sentiment for AI-linked shares across the world.
The Taiwan Semiconductor Manufacturing Co. Museum of Innovation in Hsinchu, Taiwan.
Africa’s top oil producers led a bond rally across emerging markets as the price of brent crude rose, fueled by the US escalating pressure against Iran.
Africa’s top oil producers led a bond rally across emerging markets as the price of brent crude rose, fueled by the US escalating pressure against Iran.
A flame rises from a gas flare stack at the under-construction Dangote Industries Ltd. oil refinery and fertilizer plant site in the Ibeju Lekki district, outside of Lagos, Nigeria, on Friday, March 6, 2020. Aliko Dangote, Africa’s richest man, plans to spend more than his net worth of $13.5 billion building one of the world’s biggest oil refineries.
A rally in Africa’s dollar bonds is stumbling as long-term US plans to boost crude from Venezuela dim the appeal of debt from oil exporters on the continent.
A rally in Africa’s dollar bonds is stumbling as long-term US plans to boost crude from Venezuela dim the appeal of debt from oil exporters on the continent.
While a complete overhaul of Venezuela’s oil industry would likely take years, crude prices are already down almost 20% in the past year. Photographer: Gaby Oraa/Bloomberg
African credit markets may disappoint investors hoping for a repeat of last year’s stellar returns, according to hedge fund Enko Capital Management LLP, which is seeking out trades to cushion against setbacks in the continent’s top performing assets.
African credit markets may disappoint investors hoping for a repeat of last year’s stellar returns, according to hedge fund Enko Capital Management LLP, which is seeking out trades to cushion against setbacks in the continent’s top performing assets.
Pockets of distress remain in Africa, with Senegal’s yield spread versus Treasuries standing at over 1,000 basis points.
Zambia’s kwacha faces risks in the coming weeks that may snap a year-end rally that has extended into 2026 and made it the world’s best-performing currency.
Zambia’s kwacha faces risks in the coming weeks that may snap a year-end rally that has extended into 2026 and made it the world’s best-performing currency.
Citigroup Inc. sees an increased risk of currency devaluations in Africa this year after a relatively stable 2025, as low oil prices pressure economies such as Angola, Algeria and Gabon.
Citigroup Inc. sees an increased risk of currency devaluations in Africa this year after a relatively stable 2025, as low oil prices pressure economies such as Angola, Algeria and Gabon.
Ethiopia’s sole eurobond rallied almost 3 cents on the dollar after the government reached an agreement in principle with bondholders on a restructuring that would impose a relatively modest 15% haircut on the $1 billion note it defaulted on two years ago.
Ethiopia’s sole eurobond rallied almost 3 cents on the dollar after the government reached an agreement in principle with bondholders on a restructuring that would impose a relatively modest 15% haircut on the $1 billion note it defaulted on two years ago.
Pedestrians walk on a newly built walkway in Addis Ababa, Ethiopia.
Ethiopia says it reached an agreement in principle with bondholders over the restructure of a $1 billion bond on which it defaulted in 2023, and sees progress in efforts to revamp the debt this year.
Ethiopia says it reached an agreement in principle with bondholders over the restructure of a $1 billion bond on which it defaulted in 2023, and sees progress in efforts to revamp the debt this year.
Pedestrians near Merkato open-air marketplace in Addis Ababa, Ethiopia, on Thursday, Jan. 9, 2025. Ethiopia is opening a stock exchange after a five-decade gap, in its latest step to lure investors to a nation that’s struggling to control regional strife as it recovers from a civil war. Photographer: Amanuel Sileshi/Bloomberg
Zambia’s kwacha traded near the highest in more than two years, as a government order to curb the use of foreign currencies in domestic transactions prompted traders to sell the greenback.
Zambia’s kwacha traded near the highest in more than two years, as a government order to curb the use of foreign currencies in domestic transactions prompted traders to sell the greenback.
A street currency dealer counts US dollars and Zambian kwacha banknotes in Lusaka, Zambia. Photographer: Luke Dray/Bloomberg
Gold’s rally and a buildup in foreign-exchange reserves have helped Zimbabwe’s bullion-backed currency pare most of its decline against the dollar this year.
Gold’s rally and a buildup in foreign-exchange reserves have helped Zimbabwe’s bullion-backed currency pare most of its decline against the dollar this year.
Anmelden
