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S&P: Sub-Saharan Africa Remains Out Of Step With Islamic Finance
JOHANNESBURG (Capital Markers in Africa) -Islamic finance is an unlikely showstopper across Sub-Saharan Africa. Despite the region’s pronounced financing needs, particularly for infrastructure projects and to repay COVID-19-related debt, S&P Global Ratings believes that Sub-Saharan countries will access the market via multilateral institutions (MLIs) instead of through sukuk issuances. Sukuks’ Run May Be Short-Lived We foresee limited market issuance–of both sukuk and conventional debt–across Sub-Saharan Africa (SSA) over the remainder of the year. Senegal was…
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