North Africa
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The Kingdom of Morocco moved from roadshow to deal execution on Thursday with a 12 year bond that looked set for tight pricing. -
The Arab Republic of Egypt this week proved that emerging market bond investors will still part with their cash even at this stage in the year if the deal is right, while at the same time proving that ultra-long dated bond funding is open to emerging markets issuers.
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The Arab Republic of Egypt pulled in $14.5bn of demand for its $2bn triple tranche bond deal on Wednesday, in a trade that was priced well inside the sovereign's curve.
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The Arab Republic of Egypt had clocked up more than $9bn of demand for its triple tranche bond trade by lunch time on Wednesday.
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Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal.
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Less than a decade ago Egypt was deemed a no-go zone by many private sector investors, but now it’s an investment hotspot. We asked Sahar Nasr, Egypt’s Minister of Investment and International Co-operation, to explain what’s behind the turnaround
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Egypt’s banking system has undergone a transformation. Supported by strong economic growth and a root-and-branch reform programme put in place over the last two decades, the country’s financial institutions are now pulling their weight, providing a vital lubricant for Egypt’s economic success
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Egypt has reached a pivotal point in its new phase of economic development. For the fastest growing economy in the Middle East, and the biggest investment magnet in Africa, the task is to build on deep reforms to create a more business friendly environment, attract fresh investment and create meaningful jobs for the poorest Egyptians.
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BCME Bank, one of the largest banks in Morocco, has raised Dh1bn ($103m) by selling new shares on the Casablanca Stock Exchange.
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Libya has paid in capital to become a shareholder in the European Bank for Reconstruction and Development, in a move that extends the development lender’s reach across the region.
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