How Africa’s bond markets can continue to progress

paul-harry-aithnard

In November 2009, Safaricom, a joint venture between the Kenyan government and Vodafone, found the first KSh5 billion ($65.5m) tranche of its KSh12 billion bond program 50% oversubscribed.

And Safaricom is no fluke. Just a month before, KenGen, a Kenyan power company, managed to raise KSh25 billion from a ten-year bond issue - KSh10 billion more than was expected.

Around the turn of the millennium, such a debt issue - let alone such an oversubscription - would have been unthinkable. But the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: