The International Finance Corp. is offering local-currency bonds in Rwanda, which is marking 20 years since a genocide that killed at least 800,000 people, as it expands an African debt program. The notes will be sold in Rwandan francs and listed on the nation’s bourse, Standard Bank Group Ltd., which […]
Author: InvestAdvocate
Exclusive: Nigeria favors local firms in $40 billion oil contract awards
Nigeria has awarded most of its long-term oil contracts worth an estimated $40 billion a year to local companies, according to a confidential list seen by Reuters, meaning global traders need to partner with them to access crude from Africa’s top producer. Global commodity traders, refiners and Nigerian dealers jockey […]
Fidelity Bank’s foreign currency exposure hits 27per cent
Fidelity Bank’s exposure to foreign currency lending rose to 27 per cent last year, from one per cent in 2012, a report by Renaissance Capital (RenCap), an investment and research firm, has shown. The firm said Fidelity achieved the growth after deploying its foreign currency liabilities as the pressure on […]
