December-January 2019

Cover Story: African finance caught in global crosswinds

Strong trade winds are blowing throughout Sub Saharan Africa. Pushing companies forward are rising oil and commodity prices, but throwing the continent’s businesses off course is a deterioration of trust after a spate of defaults and the end of cheap credit globally. 

Pushing the boundaries

New markets in the EMEA region are opening up apace in the depositary receipts market, but China remains the looming driving force behind activity.

Nigeria’s mixed messages...

The Nigerian financial sector is mired in liquidity shortages, the economy continues its slow progress out of recession, the Central Bank is in a major dispute with mobile operator MTN, and some international banks have packed their bags.

Middle East news

The Middle East’s bond machine has started rolling this year with major issuance from fixed income darling Saudi Arabia, and analysts reckon the region is set for a decent year in the capital markets. 

Africa news

Following a landmark transaction from Viathan, backed by InfraCredit, local currency infrastructure bonds are becoming more attractive to long-term investors. 

Capital Markets news

In July, ASA International became the first microfinance institution to publicly list in Europe. We explore the Group’s story to date and explain why microlending is becoming so attractive to mainstream investors.