To get more capital, Africa needs more data
1 month, 1 week ago

To get more capital, Africa needs more data

Live Mint  

“The concept of risk is completely invented to ensure that investment doesn’t come to Africa," Gagan Gupta told an audience of investors and entrepreneurs earlier this year, to resounding applause. Government debt across sub-Saharan Africa reached 60% of GDP in 2023, with two dozen countries’ debt burdens widely considered unsustainable. Equity valuations in stockmarkets are low, implying poor growth prospects or high risk: in aggregate, listed firms in sub-Saharan markets trade on 13 times profits, according to Bloomberg data. One kind of risk is of default on debt: Moody’s, another rating agency, reckons that default rates on infrastructure projects in Africa are low at 5.5%, compared with 11.9% in Asia and 14.5% in Latin America.

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History of this topic

Africa Central Banks Expected to Cut
1 month ago

Africa Central Banks Expected to Cut

Bloomberg  

00:00 Yvonne, let's just talk, first of all, about the Trump effect and what that is going to have on African central banks. I mean, how big a reality is high inflation for the other countries as well, especially as we're watching inflation data today in South Africa? So if we're heading into an environment where interest rates remain higher …

African development gets Chinese push
3 months, 3 weeks ago

African development gets Chinese push

China Daily  

Exhibitors exchange at an expo in Nairobi, Kenya. LI YAHUI/XINHUA Trade between China and Africa rose 5.5 percent year-on-year to 1.19 trillion yuan in the first seven months of this year, while China's trade with Africa in intermediate goods posted 6.4 percent year-on-year growth, official data showed. Echoing that sentiment, Zhang Chun, a researcher at the Center for African Studies, …

African development gets Chinese push
3 months, 3 weeks ago

African development gets Chinese push

China Daily  

Exhibitors exchange at an expo in Nairobi, Kenya. LI YAHUI/XINHUA Trade between China and Africa rose 5.5 percent year-on-year to 1.19 trillion yuan in the first seven months of this year, while China's trade with Africa in intermediate goods posted 6.4 percent year-on-year growth, official data showed. Echoing that sentiment, Zhang Chun, a researcher at the Center for African Studies, …

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit
6 months, 2 weeks ago

The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

Associated Press  

GENEVA — Global public debt rose to a record $97 trillion last year, the United Nations reported Tuesday, with developing countries owing roughly one-third of that — crimping their ability to pay for basic government services like health care, education and climate action. In 2023, public debt in developing countries hit $29 trillion, or about 30% of the total worldwide …

Improving funding in Africa
1 year, 2 months ago

Improving funding in Africa

China Daily  

Adding equity and quasi-equity financing mechanisms can advance BRI's objectives in the large, populous but poorest continent and, possibly, other continents too Extreme poverty is afflicting hundreds of millions all over the African continent. China's BRI directly addresses the yawning physical infrastructural gap in Africa and is already making a big impact on the continent. The African Development Bank estimates …

India’s ’economic diplomacy’ bolsters lending in Africa, countering China
1 year, 5 months ago

India’s ’economic diplomacy’ bolsters lending in Africa, countering China

Live Mint  

India has increased its credit flow to Africa, making it the second-largest beneficiary of Indian credit. As per a report by Bloomberg, Forty-two African nations received about $12 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbours, Harsha Bangari, the managing director of India’s Export-Import Bank said …

Global bond sales to cross $10 trillion in 2022: SP
2 years, 8 months ago

Global bond sales to cross $10 trillion in 2022: SP

The Hindu  

Global sovereign borrowing will reach $10.4 trillion in 2022, almost a third above the average before the coronavirus pandemic, S&P Global Ratings said in a report. While 137 countries will borrow an equivalent of $10.4 trillion in 2022, an estimated 30% lower than 2020, the overall figure is one-third higher than average borrowing between 2016 and 2019, S&P said. Egypt, …

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