Kenya is contender to issue region’s first eurobond since 2022 Moody’s warns refinancing risks still weigh on African credits
Nations in Sub-Saharan Africa have been locked out of international debt markets for 22 months now, and investors increasingly are betting the drought will soon end as countries seek funding for a slew of principal payments coming due this year and next.
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South Africa is due to repay $1.5 billion in bonds this month, while Kenya has a $2 billion maturity in June. Second-half principal repayments will then come from Senegal, Ivory Coast and Gabon. Ethiopia was slated for December, but defaulted last month.
Source: Bloomberg
