Moody’s News

Africa's Liquid Telecom raises $700m in bond and term-loan issue

Africa's Liquid Telecom raises $700m in bond and term-loan issue

Liquid Telecom, an unlisted pan-African telecoms group, has raised $700m in a bond and term-loan issue that will help it refinance debt and provide a war chest for further acquisitions.

Zuma has survived several no-confidence votes in recent years. Credit: Rogan Ward/Reuters/Al Jazeera

S&P downgrades South Africa's credit rating to junk

Credit rating agency Standard and Poor’s (S&P) has downgraded South Africa’s rating to junk status.

President Jacob Zuma is coming under increasing pressure to step down

South Africa unions to Zuma: Time to go

South Africa’s powerful trades union federation Cosatu has called for President Jacob Zuma to step down.

Godwin Emefiele, Governor, Central Bank of Nigeria

Nigerian Banks in Distress? Not Exactly

Nigeria’s economy has spent much of 2016 in recession for the first time in over two decades. Unsurprisingly there has been speculation about the strength of its banking system.

Resilient Earnings at African Banks Offset Risks, Moody's Says

Resilient Earnings at African Banks Offset Risks, Moody's Says

Banks across Africa are expected to remain stable in 2016 as resilient earnings, adequate capital levels and deposit-based funding counter rising asset-quality risks, according to Moody’s Investors Service.

Miguel Azevedo, Head of Investment Banking, Citi Africa

Citi to Deutsche Bank on charm offensive in Africa as banks clamor for bond issuance deals

Bankers from London to Frankfurt and New York are on a charm offensive in Africa. Their goal: convincing governments to keep selling debt as first-half issuance slows from a five-year high.

Angola is a heavily oil-dependent economy with about 97% of its export revenue coming from crude.

Sub-Saharan Africa's growth remains strong despite low commodity prices

Sub-Saharan Africa is likely to retain its status as the world’s second-fastest-growing region after emerging Asia, Moody’s Investors Service says.

African sovereign credit quality stable, says Moody's

African sovereign credit quality stable, says Moody's

The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s.

A shopper peruses the grocery aisles at the South Africa–based Shoprite in the three-year-old Ikeja City Mall. Photo credit: nationalgeographic.com

Global X MSCI Nigeria ETF: Speculative multi-year play approaching attractive valuation

The bet is a very long-term (multi-year) play on: (1) Earnings growth; and (2) Increased multiples assigned to equities by market participants as Nigeria’s markets mature.

Moody's Says Nigeria's Economy Resilient in Face of Oil Plunge

Moody's Says Nigeria's Economy Resilient in Face of Oil Plunge

Moody’s Investors Service said Nigeria’s economy remains resilient in the face of falling oil prices even as the currency slumped to a record low and growth in Africa’s largest crude producer is set to slow.

Sizwe Nxasana, CEO, FirstRand

African Bank not a proxy for South Africa's banking industry: Sizwe Nxasana, CEO, FirstRand

FirstRand Ltd. (FSR), Africa’s biggest bank by market value, said unsecured lending was the least of its issues and criticized ratings companies for seeing failed African Bank Investment Ltd. as a proxy for the industry.

African Bank recently received a $1.6B bailout from the South African Reserve Bank (SARB)

South Africa’s Subprime Crisis

When America’s housing bubble burst and the subprime loan market tanked in 2007, banks around the world found themselves exposed to subprime debt through an array of complex and opaque financial arrangements.