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After years in the cold, signs of renewed investor interest in Africa as 2024 proving bumper year (By Miranda Abraham)

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investor interest

African countries are seeking to address global development challenges and are calling for a fair financial system to handle climate shocks and implement their development agenda

SANDTON, South Africa, May 17, 2024/APO Group/ — 

By Miranda Abraham, Head of Loan Syndication at RMB (www.RMB.co.za) in London.

Over the past few years, African debt markets have faced significant challenges due to a combination of factors including soft global economic conditions, the COVID-19 pandemic and related supply chain failures.

These factors led to a decrease in demand for African debt and a dramatic rise in borrowing costs, placing sovereign borrowing in particular in a difficult position.

In fact, in 2023, there was no issuance at all in Sub-Saharan Africa, marking the first time since 2008 that this happened.

The global bond market was effectively frozen for Africa.

The funding squeeze and the closure of the bond market forced African countries to seek alternative sources of financing, such as domestic capital markets, multilateral institutions, and bilateral agreements.

But in January and February 2024, everything changed. 

Suddenly there was a rush of deals. First Cote d’Ivoire reopened the market with a bumper $2.6bn of bond issuance. Even more encouragingly, the sale was oversubscribed more than three times, with a combined demand of $8 billion.

Then Benin came to market with a smaller issuance of $750m at a yield of just under 9%. Kenya issued a hefty $1.5bn at a yield of 10.4%, the proceeds of which will be used to buy back most of its debt which falls due in June this year. First Quantum Minerals issued $1.6bn, closely following Kenya.

Moreover, these bonds actually all priced lower than initial guidance – indicating that investor demand was far stronger than initially anticipated.  The issuance was proof positive that the market had turned a corner and confidence had returned.

This confidence spread to the loan market, with banks suddenly rushing to pitch loan bridges to bond issuance and / or medium-term financing at more attractive loan pricing than borrowers have been offered over the last 2 years.

As we approach the midway point of the year, the prospect of further interest rate cuts from central banks seems less and less likely. Debt capital markets issuance however is continuing with recent deals for Puma Energy for $500m and phosphate miner OCP S.A., which successfully completed a bond issue on the international markets for $2bn. There are more in the pipeline which suggest the African bond markets are alive and well again.

These recent debt sales in Africa show that investors are buying riskier bonds. This trend is likely to continue as more high-yield borrowers return to sub-Saharan Africa, seeking to capitalise on the region’s growth potential.

As we approach the midway point of the year, the prospect of further interest rate cuts from central banks seems less and less likely

The cost of borrowing remains high in Africa, but with projections that most of the central banks will be reducing their base rates in hard currency, borrowers will immediately start to see the benefits as costs fall.

Encouraging too, is that the debt levels in sub-Saharan Africa have largely stabilised at around 60%, and this could begin to ease slightly from 2024, halting a nearly decade-long upward trend.

We are also optimistic of a rise in event-driven financing this year.

Event driven financing refers to strategies where investment decisions are made based on specific corporate events, such as mergers, acquisitions, spin-offs and bankruptcies.

In the context of Africa’s economic development, event-driven financing can play a crucial role. We expect event-driven financing in Africa to leverage innovative financing instruments to crowd-in private climate investments and support sustainable development and green initiatives.

Importantly, the African Development Bank Group has actively promoted the use of philanthropic and other forms of capital to create an ecosystem of green growth.

This approach has been highlighted at the World Economic Forum (WEF) earlier this year.

Additionally, the African Union has hosted the Conference of Ministers of Finance, Planning, and Economic Development (COM2024) in Victoria Falls, Zimbabwe, with a theme focused on financing Africa’s green and inclusive transition. The event brought together experts to discuss ways to mobilise climate finance at national, regional, and global levels.

Events such as the African Economic Outlook 2023 launch and the Conference Internationale De Lome Sur Le Financement also focused on venture capital and infrastructure financing for African projects and businesses as the continent looks towards a new financial landscape to support green industrialisation and sustainable growth.

African countries are seeking to address global development challenges and are calling for a fair financial system to handle climate shocks and implement their development agenda.

Debt remains a headwind and inequalities in the international financing architecture make access to finance inadequate and expensive.

In other developments, the African Union has emphasised the need for global reforms, concessional finance, Special Drawing Rights, and Africa’s voice in decision-making to address debt, risk ratings, and the cost of capital.

We are also seeing a significant uptick in activity around underwriting, not only for clients who want fund certainty for general loans, but for M&A activity as well, which clearly demonstrates renewed investor appetite.

While M&A deals tend to have a long lead time before coming to market, they are eagerly anticipated and often represent new borrowers and new transactions, along with renewed investor activity in a challenging market.

All the signs point to a positive turnaround for both bonds and loans in 2024.

There is plenty of pent-up demand from both borrowers and investors, and as the year got off to a strong start there are clear grounds for cautious optimism. 

Distributed by APO Group on behalf of Rand Merchant Bank.

Business

Aurionpro expands its multi-country transaction banking engagement with Diamond Trust Bank (DTB)

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Aurionpro

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers

MUMBAI, India, April 30, 2026/APO Group/ –Aurionpro Solutions Limited (www.AurionPro.com) (BSE: 532668 | NSE: AURIONPRO)a global leader in banking technology, announced the expansion and upgrade of its transaction banking engagement with Diamond Trust Bank (DTB), to modernize and enhance the bank’s corporate transaction banking capabilities across multiple countries.

Download Document: https://apo-opa.co/4edHUaC

This multi-country transaction banking upgrade covering Kenya, Uganda, and Tanzania aligns with DTB’s intent to enhance customer experience, streamline operations, and support growing transaction volumes as it expands its regional corporate banking footprint. DTB continues to focus on building a more agile, ‘digital-first’ banking experience, particularly around payments for its corporate customers across Africa, and is now well positioned to scale these capabilities. As part of its broader transformation agenda, the bank has been steadily investing in platforms that enhance scale, reliability, and service consistency across markets.

Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility

Aurionpro’s upgraded iCashpro platform for DTB delivers a unified digital experience across payments, trade, virtual accounts, and real-time reporting, enhancing straight-through processing, visibility, and control for both the bank and its corporate customers. By enabling DTB to standardize and scale its transaction banking operations across countries, the platform ensures consistent service levels, stronger control, and improved efficiency. It also supports enhanced user experience, advanced security, and the flexibility to introduce new features as DTB expands its regional transaction banking footprint.

Murali Natarajan (https://apo-opa.co/48trPdk), Managing Director & CEO, DTB Kenya   commented: “We are delighted to strengthen and broaden our partnership with Aurionpro Solutions as part of DTB’s ongoing digital transformation journey across multiple markets. Our focus on innovation, operational excellence, and customer-centricity continues to guide our technology investments. This upgrade strengthens our transaction banking capabilities, enabling us to deliver greater value to our customers through robust digital channels and seamlessly integrated experiences.”

Ashish Rai, Group CEO, Aurionpro Solutions, commented: “We are pleased to deepen our multi-country engagement with Diamond Trust Bank and support the next phase of its transaction banking modernization. As DTB continues to scale across markets, platform resilience and consistency become paramount. Through this partnership, we are proud to lead the next era of transformation in transaction banking, helping DTB enhance operational agility, deliver superior experiences to corporate customers, and create long-term value across geographies.”

He added, “Aurionpro’s iCashpro lays a strong digital foundation for transaction & wholesale banks across the globe to grow their corporate and SME client portfolio today, while creating a clear roadmap for next- generation capabilities in AI-driven insights, advanced automation and API-led connectivity for businesses in Kenya and across Africa.”

Distributed by APO Group on behalf of Aurionpro Solutions Ltd.

 

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Minerals Council Chief Executive Officer (CEO) Joins African Mining Week (AMW) as South Africa Improves Sectorial Investment Climate

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Energy Capital

Minerals Council CEO to share insights on policy, infrastructure and investment trends shaping South Africa’s mining industry

CAPE TOWN, South Africa, April 30, 2026/APO Group/ –The upcoming African Mining Week (AMW) conference will feature Mzila Mthenjane, CEO of the Minerals Council of South Africa, as a speaker. Scheduled for October 14 – 16, 2026 in Cape Town, the event will bring together global investors, policymakers and industry leaders, with Mthenjane’s participation highlighting the council’s commitment to engaging international stakeholders and promoting investment across South Africa’s mining sector.

His participation comes at a critical moment as the Minerals Council works closely with government on finalizing the Mineral Resources Development Bill 2025, a policy framework aimed at strengthening the country’s mining investment climate and the sector’s contribution to GDP. According to the council, the revised legislation will support new investment across the value chain as South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

The policy reforms come amid shifting production trends in the sector. In 2025, South Africa recorded declines in gold and platinum group metals output of 1.9% and 4.1%, respectively. The new regulatory framework is expected to strengthen public-private partnerships and stimulate investment, enabling South Africa to increase production and capitalize on strong global commodity prices. Increased private sector investments is crucial with South Africa seeking targeting to unlock an estimated R40 trillion in untapped iron ore potential as well as maintain its position as the world’s leading producer of chrome and manganese.

At AMW 2026, Mthenjane is expected to outline these trends, providing insights into how the council is contributing to addressing challenges disrupting the sector. Infrastructure and energy costs remain key concerns for industry players. To support the energy-intensive sector, South Africa approved a 35% reduction in electricity tariffs for major ferrochrome producers, helping stabilize an industry that has faced significant cost pressures after electricity prices surged by roughly 900% since 2008.

Logistics constraints are also a priority area for reform. South Africa’s economy is losing an estimated R1 billion per day due to inefficiencies across rail and port infrastructure. As a result, the government is considering measures supported by the Minerals Council to increase private sector participation in logistics. Planned reforms include rail modernization initiatives targeting 250 million tons of freight capacity by 2029, alongside port upgrades and private operator participation aimed at strengthening mineral exports and improving supply chain efficiency.

Beyond infrastructure and policy reforms, the Minerals Council is advocating for stronger exploration investment to support long-term industry growth.

At AMW, Mthenjane is expected to highlight these developments and outline the steps required to reinforce South Africa’s position in the global minerals supply chain. His insights will offer investors and stakeholders a timely perspective on opportunities within the country’s mining sector.

Distributed by APO Group on behalf of Energy Capital & Power.

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Seychelles Targets Energy Investment Push as Minister Jérémie Joins African Energy Week (AEW) 2026 as a Speaker

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African Energy Chamber

Seychelles energy minister will speak at AEW 2026, positioning her to highlight reforms, renewable projects and investment opportunities as the island nation advances its transition toward a diversified energy system

CAPE TOWN, South Africa, April 29, 2026/APO Group/ –Marie-May Jérémie, Minister of Environment, Climate, Energy and Natural Resources for Seychelles will participate as a speaker at this year’s African Energy Week (AEW) 2026, taking place from October 12–16 in Cape Town. Her participation underscores the country’s growing role in shaping Africa’s small-island energy transition agenda.

Minister Jérémie’s presence at AEW 2026 comes at a critical time as Seychelles accelerates efforts to reduce its heavy reliance on imported fossil fuels. The event provides a platform to attract investment, strengthen policy alignment and showcase bankable projects, positioning the country as a viable destination for private-sector participation in island energy systems.

Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments

In May last year, international finance institution the World Bank approved the Renewable Energy Acceleration Program, a seven-year initiative aimed at modernizing the grid and increasing renewable energy penetration to 15% by 2030. The program focuses on unlocking private capital while strengthening transmission infrastructure to accommodate variable renewable energy sources.

Project development is gaining traction in the country, particularly in innovative technologies suited to Seychelles’ land constraints. The 5.8 MW Seysun Lagoon floating solar PV project, developed by independent renewable power producer Qair, is under construction and expected online in 2026.

Alongside renewables, Seychelles continues to pursue upstream opportunities to diversify its economy. The government approved new exploration entrants in 2025 and extended exiting petroleum agreements, while securing an infrastructure partnership with China. Multilateral estimates suggest over $800 million in investment will be required over the next 25 years.

Regulatory reform is central to this transition, with Seychelles introducing an independent power producer framework to open the market to private developers. Standardized power purchase agreements, grid access reforms and strengthened public-private partnership structures are being implemented to improve transparency, reduce risk and accelerate project bankability across solar, storage and emerging wind opportunities.

“Minister Jérémie’s participation highlights the strategic importance of island nations in Africa’s broader energy transition,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Seychelles is demonstrating how policy reform and innovation can unlock investment in constrained environments. Her insights will be critical to advancing dialogue on resilient, low-carbon energy systems across the continent.”

Distributed by APO Group on behalf of African Energy Chamber.

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