Category: Africa

Reuters exclusively reported that at least five African countries are working on what could be the world’s first joint “debt-for-nature” swap to raise at least $2 billion to protect a coral-rich swathe of Indian Ocean. Debt-for-nature deals are becoming increasingly popular for poorer nations to pay for conservation.   The post African countries eye world’s first...

Reuters was first to report that Ghana had reached an agreement in principle with its bondholders to restructure $13 billion worth of international debt, a key milestone for the nation, including details on the agreement.  The post Ghana reaches deal in principle with bondholders on $13 bln debt  appeared first on Reuters News Agency.

Reuters exclusively reported that Ghana’s official creditors are scheduled to meet on Monday to discuss restructuring some $5.4 billion in loans to the country, a key step needed to secure its next tranche of funding from the International Monetary Fund.  The post Ghana official creditors to meet Monday to discuss debt restructuring terms appeared first...

Reuters was first to report that French telecoms firm Orange (ORAN.PA) told Reuters on Monday that it had decided to withdraw from the process to purchase an up to 45% stake in Ethiopian operator Ethio Telecom. Orange submitted an expression of interest in 2021 to participate in the partial privatisation of Ethio Telecom, a former...

Reuters exclusively reported that Nigeria’s state oil firm NNPC Ltd will supply the new 650,000 barrel-per-day Dangote oil refinery with up to six cargoes of crude oil in December to be used in test runs.   The post Nigeria brings major Dangote refinery to life with own oil supply appeared first on Reuters News Agency.

Reuters was first to report that Kenya’s government plans to buy back up to a quarter of its $2 billion international bond maturing next year before year-end. The decision comes after the east African country secured new loans, central bank governor Kamau Thugge told Reuters on the sidelines of the World Bank and IMF meetings...

Reuters exclusively revealed that The Democratic Republic of Congo aims to boost its stake in a cobalt and copper joint venture with Chinese firms to 70% from 32%, on concerns the deal gives away too much of Congo’s resources with little benefit to the country. The post Congo to hike stake in copper, cobalt venture...

Angola’s finance minister exclusively shared with Reuters that their next sovereign debt issuance will be an ESG bond of up to $1 billion; however, they are not looking to tap the market this year. The post <strong>Angola’s next debt issuance to be ESG bond, but not in 2023</strong> appeared first on Reuters News Agency.

Sources exclusively revealed to Reuters that Ethiopia is in talks with the International Monetary Fund (IMF) to borrow at least $2 billion under a reform program. While the IMF is still evaluating the country’s debt sustainability, an initial analysis calculated that Ethiopia is set to face a financing gap of at least $6 billion until...

Reuters exclusively revealed that an informal group of international bondholders has proposed to Ethiopia’s government to extend the maturity of the country’s $1 billion eurobond issue coming due in 2024. The sources said the proposal to extend the eurobond maturity foresees a coupon of 6.625% – the same as the current one on what was...