Zambia’s borrowing costs fell in the first bond auction since this month’s elections as investors bet that political continuity will bolster the prospects of Africa’s second-biggest copper producer.

Ethiopia sold $500 million to local banks on Thursday, stepping up efforts to ease dollar shortages and stem the slide in its currency.

Citigroup Inc. plans to go long on Zambia’s bonds as it sees the copper-producer to be in line for credit upgrades after recent elections.

Ethiopia is burning through billions of dollars in a frantic — and so far unsuccessful — bid to stem the selloff in its currency.

African local-currency debt is outperforming emerging-market peers, as high yields and economic reforms drive investor appetite for government securities.

Cameroon’s 93-year-old president hasn’t been seen in public since he boarded a flight to Geneva two months ago, deepening concerns over a succession plan for the world’s oldest ruler.

Most emerging-market currencies weakened Thursday as the details of an agreement between Iran and Oman to reopen the Strait of Hormuz risk reigniting tensions with the US.

Gabon has become a top performer in emerging sovereign bond markets, buoyed by expectations that an International Monetary Fund program will help it avert a debt restructuring.

Most emerging-market currencies gained on Tuesday, rebounding from an earlier selloff amid optimism the US and Iran are nearing a deal to restart peace talks.

Foreign investors shunned Nigerian stocks this year, choosing to focus on fixed-income assets, missing out on a 66% rally that made the market the world’s best performer.

The South African rand slumped after the central bank defied expectations by leaving interest rates unchanged to support economic growth and revised its inflation forecasts lower.

The world-beating rally in Zambia’s bonds is likely to extend if President Hakainde Hichilema decisively wins next month’s elections, according to Citigroup Inc.

Coronation Asset Management Ltd., which oversees $47 billion, has trimmed its exposure to chipmakers and increased its allocation to India, as expectations for artificial intelligence stocks have risen to levels that are nearly impossible to beat.

Bloomberg reporters answer your questions about Nigeria’s world-beating stocks, and where investors are finding opportunities in African markets, in a Live Q&A on Friday, July 17 at 12 p.m. GMT

Holders of Senegal’s dollar bonds could end up recouping less than 50% of the face value of the securities in the event of a restructuring — below the prices at which the debt currently trades, according to Citigroup Inc.

Citigroup Inc. said the political rupture between Senegal’s president and his former premier has increased the likelihood of a debt reprofiling rather than a restructuring.

Nigerian equities have overtaken South Korea’s to hand investors the highest dollar-based returns this year, as souring sentiment on artificial-intelligence stocks pushes the Asian nation’s world-beating rally into bear territory.

A selloff in Indonesian assets that accelerated during the Iran war has created a buying opportunity, prompting a South African money manager with $29 billion in assets to enter the market.

Most developing-world currencies rallied on Thursday after weaker-than-expected US employment data prompted investors to scale back bets that the Federal Reserve will raise interest rates as soon as this month.

The Democratic Republic of Congo is drawing up plans for its first stock exchange as it seeks to attract more investment to an economy that’s benefiting from soaring demand for minerals critical to the artificial intelligence buildout.