Category: Economy

One of the world's major credit ratings agencies, Fitch Ratings, issued an ominous warning that last week's downgrade of Zambia's will likely not be the last in Sub-Saharan Africa. In an article published on its website yesterday, the agency highlighted Angola, the Republic of ...

The recent announcement that Zambia will default on several of its Eurobond notes, and the indication from ratings agencies that several other African countries are in similar danger are just the latest indicators of how the economic crisis kicked off by the pandemic is impacting African economies.  ...

There've been major developments over the past week in the African debt crisis. It appears that Angola and China reached a consensus on how to restructure the estimated $20 billion of loans that Luanda owes Beijing. This deal then paved ...

Hi Mr. Olander, I work as a sovereign credit analyst at a private buy-side financial firm - I research the Sub-Saharan (and Middle East/North Africa) regions, and as such your content enriches my understanding of the countries in which we invest. ...

Debt relief for developing countries is emerging as the latest front in China's rapidly escalating confrontation with the U.S, European countries, and Japan. Finance ministers from many of those countries, representing the Group of 7 (G7), met on Friday to discuss debt relief initiatives for ...

When the G20 says it has provided $14 billion of "estimated total immediate liquidity provided by official bilateral creditors in 2020 alone," consider that amount is spread across all regions around the world. It falls far short of calls by Ethiopian Prime Minister Abiy ...

Zambia's financial situation is rapidly deteriorating following last week's announcement by the government that it would default on $3 billion of Eurobond debt. Soon after, the credit ratings agency Fitch downgraded Zambia's foreign-currency bonds, immediately increasing the cost of borrowing for Lusaka. ...

The Chinese-financed and built Standard Gauge Railway is losing money at an unsustainable rate of $9.2 million per month prompting renewed calls in parliament for the State House to renegotiate the $3.2 billion of loans used to construct the Nairobi to Mombasa ...

Kenya's difficulties in servicing its debts for the newly-built, Chinese-financed Standard Gauge Railway (SGR) is nearing a breaking point. Even before the COVID-19 outbreak, the railway failed to meet passenger and cargo volume targets and now the economic downturn brought on by the ...

Whether it is ordering a vegetarian wrap or having a healthy fruit and veggie smoothie, the most sought after ingredient I crave for is avocado! Today, be it Beijing or Shanghai, restaurant chains and smoothie bars, are now catering to their customers' healthy tastes, delivering on this ...

Long-time China-Africa market analyst Martyn Davies, the managing director for emerging markets at Deloitte, explains why the once dominant "Chimerica" (China-America) is now giving way to a new era of "ChiAfrica" (China-Africa) trade. Watch the full ...

The Communist Party-controlled China Daily newspaper published an interesting article today written by Lewis Ndichu, a research and policy analyst at the Kenya-based think tank Africa Policy Institute, that proposes how China's Belt and Road Initiative can be integrated into the new African Continental Free ...