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
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights l...
Plan targets English teachers for Burkina Faso and French teachers for Ghana Talks focus on boosting language skills and regional education ties Both...
Alsat-3A was launched into orbit from China as Algeria’s third Earth observation satellite The satellite provides high-resolution imagery to support...
Fitch revised Benin's outlook to Positive (B+), citing 7.5% growth and a debt-to-GDP ratio projected to fall to 49.8% by 2027. Despite growth, GDP per...
Plan targets safety, infrastructure, and skills development through 2045 Sector remains weakened by post-war underinvestment and low oversight...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...