Author: The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria may have about the best-performing Eurobonds in emerging markets this year, but the West African nation says it will prioritize borrowing from concessional lenders such as the World Bank and African Development Bank as it looks to rein in interest payments. “If you were to ask me if we’re going to issue Eurobonds this year, I’d say we’ll explore all the options,” Patience Oniha, head of the Debt Management…

JOHANNESBURG (Capital Markets in Africa) – Ghana will work with the market to determine the tenure of possible longer-dated bonds for a future debt issuance after raising $3 billion this week, said Finance Minister Ken Ofori-Atta. The world’s second-biggest cocoa producer sold Eurobonds in a three-part dealwith an average maturity of seven, 12 and 31 years after receiving $19.9 billion in offers, Ofori-Atta said in an interview Wednesday with Nejra Cehic and Manus Cranny on Bloomberg Television. Last…

JOHANNESBURG (Capital Markets in Africa) – Damage caused by Cyclone Idai to pylons in Mozambique that carry power to neighboring countries may take weeks to repair, a state-power company official said. The damage to Mozambican infrastructure has exacerbated rolling outages in South Africa, where state-owned utility Eskom Holdings SOC Ltd. is struggling to bring faulty generating units back online. Mozambique’s 2,075-megawatt Cahora Bassa hydropower dam supplies almost three-quarters of its output to South Africa along a 1,400-kilometer…

JOHANNESBURG (Capital Markets in Africa) – Sibanye Gold Ltd. said a South African court ruling that it can extend a wage agreement reached with three unions to a fourth could pave the way to ending a strike by thousands of workers at its gold mines. Should a verification exercise determine that those three unions — the National Union of Mineworkers, UASA and Solidarity — together account for more than 50 percent of the company’s gold-mining workforce,…