Barclays Plc recently received more than a 100 bids when it sought to sell a 12.2 per cent stake in Barclays Africa Group Limited (BAGL) that owns Barclays Kenya, David Hodnett, a deputy CEO at the unit said in an interview.
African import-export bank Afreximbank has announced in a statement that it has, on May 17, 2016, in London, raised $750 million after issuing a Eurobond. The 5-year bond has a 4% interest rate.
African economies should grow, in average, by 3.7% in 2016 before climbing to 4.5% in 2017, as resilient private consumption and investment offsets the effect of a slump in commodity prices and global headwinds, the African Development bank (AfDB) said on May 23, 2016 in a report.
With the exception of South Africa, sub-Saharan African banks tend to have highly speculative fundamental credit quality, but strategic investors are still looking to expand in the region, says Fitch Ratings.
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