The government of Angola is planning to issue $3 billion worth of Eurobonds on the international market between late 2019 and early 2020. The information was announced by Banco de Fomento Angola in an official statement.
The institution said talks are already engaged with investors, who authorities met last week in New York. Operations will be monitored by Deutsche Bank, ICBC and Standard Chartered.
The announcement comes a few days after President Joao Lourenço gave the green light to the Finance Minister as part of the Global Medium-Term Program for the Issuance of Sovereign Debt Securities, to issue sovereign debt securities in the form of Eurobonds, up to $3 billion or the equivalent in other currencies, in one or several series.
Under his strategy to diversify the economy, Joao Lourenço has engaged various actions to mobilize financing, either by incurring debt or, more recently, by privatizing most state-owned companies. While the country is already suffering a debt burden amounting to about 90% of GDP, this new operation should increase the government's bond charges for the coming years.
Moutiou Adjibi Nourou
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
ITSCI resumes 3T mineral traceability in Walikale, DRC, after March 2025 suspension Risks persist from illegal taxes and armed group involvement...
Senegal's peanut output is forecast to drop 54% to 731,000 tons in 2024/2025 Poor rainfall, bad inputs, and a 35% cut in harvested area are key...
In its latest report, Transport Connectivity for Food Security in Africa: Strengthening Supply Chains, the World Bank highlights the challenges of...
• Mozambican government and Huawei considering the construction of a local mobile phone factory catered to rural needs • Special features for rural...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...