Swaziland |

Swaziland Could Be Next to Sell a Eurobond

SWAZILAND (Capital Markets in Africa) – Another African country is considering selling dollar debt — but its international debt market debut may be hindered by its economy is too small. Swaziland is debating whether to issue a Eurobond and should decide by January or February, Bheki Bhembe, principal secretary at the Finance Ministry, said by phone Tuesday. The problem is that the country would probably need to raise a minimum of $500 million if it were…

Moody’s assigns B2 first-time issuer ratings to the Government of Swaziland, with a negative outlook

Posted on by The Editorial Team

LONDON (Capital Markets in Africa)– Moody’s Investors Service (“Moody’s”) has today assigned first-time issuer ratings of B2 to the Government of Swaziland. The outlook is negative. The rating assignment is based on the following key drivers: 1. Economic strength assessed at ‘Low (+), reflecting the country’s relatively small and slow-growing economy, but well integrated and resilient on top of its middle-income status. 2. Institutional strength constrained by governance challenges that have been hampering fiscal policy-making…

Finance | Swaziland secures US$63 million AfDB loan to finance smallholder irrigation project

Posted on by The Editorial Team

Mbabane, Swaziland, Capital Markets in Africa: Swaziland has secured a US $63 million (ZAR 2.01 billion) loan to finance the second phase of the Lower Usuthu Smallholder Irrigation Project (LUSIP II) in the south eastern part of the country. The LUSIP II, approved by the African Development Bank Board on Wednesday, May 5, 2016, is a follow-up project to the LUSIP-I which was completed in 2010. The project was a response to the Government’s recognition…