African Credit Outlook

“Junk”-rated debt could cost South Africa more than $10bn in lost funds

JOHANNESBURG (Capital Markets in Africa) – If South Africa loses two of its prized investment grade credit ratings for foreign and local currency borrowing in the turmoil triggered by the sacking of the finance minister, the country could lose more than $10 billion in investment funds. S&P Global has already struck. In an unscheduled review on Monday that prompted a selloff in South African assets, it cut the sovereign rating for external debt to BB+, one…

S&P says South Africa needs to deliver growth, fiscal improvements

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s sovereign credit rating could come under pressure if the country’s economic growth and fiscal performance do not improve, the head of the sub-Saharan region of S&P Global Ratings said on Wednesday. “We have certain expectations with regard to GDP growth and certain expectations with regard to fiscal improvements. If there is no delivery in this regard, that could certainly put pressure on the rating,” Konrad Reuss told…

Industrialisation key to Africa’s economic transformation

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DAVOS (Capital Markets in Africa) – Industrialisation is key to making Africa a force to be reckoned with, but without power and infrastructure this will remain a mere dream. On this Building Africa debate CNBC Africa is joined by panellists consisting of Phuthuma Nhleko, Executive Chairman, MTN; Paul Kagame, President of the Republic of Rwanda; Oluyemi Oluleke Osinbajo, Vice President of Nigeria and Siyabonga Gama, CEO, Transnet to discuss what is needed from power to…

AFRICAN CREDIT OUTLOOK: AN ECONOMIST’S PERSPECTIVE

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GAIMIN NONYANE Head of Economic Research desk and Project Manager for Local Knowledge Africa (LKA; an advisory arm at Ecobank Research) at the pan-African bank, Ecobank Group, based in London. Gaimin joined the bank in November 2012, and helped to launch the bank’s first ever Country Profiles, designed to give investors an insight into the operating environment in Middle Africa. Prior to that, she headed the sub-Saharan Africa desk on macroeconomic and political research at…

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