Author: The Editorial Team

LAGOS  (Capital Markets in Africa) — Chinese state banks have poured billions into the continent as part of the controversial belt and road infrastructure scheme. But it is unclear how Beijing will respond to calls for debt relief amid the economic fallout from the Covid-19 pandemic. African states expect a devastating impact on their economies this year from the Covid-19 pandemic and are appealing for relief from repayments on billions of dollars in outstanding debt…

NAIROBI (Capital Markets in Africa) — Kenya is exploring debt-relief options with lenders and considering a proposal by an industry body to freeze interest payments on pension assets, as the state seeks more money to deal with the coronavirus pandemic. Talks are underway with creditors who may opt to delay payments due this year, Treasury Principal Secretary Julius Muia said by phone on Friday. He declined to identify the lenders but specified that the talks…

CAIRO (Capital Markets in Africa) — Business conditions in the Arab world’s three largest economies deteriorated further last month amid shutdowns from the coronavirus and a plunge in commodity prices. Non-oil private sector activity collapsed at an unprecedented pace in Egypt and suffered another record setback in the United Arab Emirates, according to Purchasing Managers’ Index surveys compiled by IHS Markit. Business conditions in Saudi Arabia also remained below the threshold of 50 that separates…