Author: The Editorial Team

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,…

ACCRA (Capital Markets in Africa) – Ghana’s $3 billion Eurobond offering on Tuesday attracted bids that were more than six times the amount issued, according to a government official. The sale’s orderbook was about $20 billion, the country’s Finance Minister Ken Ofori-Atta told Bloomberg TV, a sign appetite for risky assets is still going strong. Ghana joins a slew of emerging-market borrowers who took advantage of the dovish turn in some of the world’s most important central…