Nigeria’s Osun State has begun offering the country’s first Islamic bond, taking a major step towards developing an Islamic finance industry in Africa’s most populous nation, bankers said on Thursday. The issue makes Nigeria the first big economy in sub-Saharan Africa to market a sukuk, although Gambia has been selling […]
Tag: South Africa
South Africa Sells $2 Billion of Bonds After Boosting Offering
South Africa sold $2 billion of 12-year bonds in overseas debt markets after boosting the size of the offering. The country issued the bonds due in 2025 to yield 6 percent, or 3.15 percentage points above U.S. Treasuries, yesterday. It had originally planned to sell $1.5 billion of the debt […]
FirstRand has $1 bln to fund Africa growth plan
* FY earnings rise 20 pct, interest income up 13 pct * Impairments fall 5 pct to 4.8 billion rand * Diluted normalised EPS 271.8 cents vs 225.8 cents * Shares up 1.7 pct (Adds CEO, analyst quotes) South Africa’s FirstRand , Africa’s second-largest lender by stock market value, said […]
