Regional stock exchanges have committed to enhancing the capital markets and increase their allure as preferred investment destinations for both local and foreign investors as well as attract new listings.
Soft drinks giant, Coca Cola company is mulling options for its bottling business in Africa, which includes either a sale or an Initial Public Offering (IPO). As Bloomberg reports, a sale or IPO of the stake could value the business at about $6 billion. However, this could change depending on the level of buyer interest.
Digital technology companies operating in Kenya, Nigeria, Ghana, Cote d’Ivoire, Ethiopia, Uganda, Tanzania, Zambia, the Democratic Republic of Congo, Mozambique, Botswana and South Africa are set to gain from a $25 million equity investment by the International Finance Corporation.
The implementation of the African Continental Free Trade Agreement (AfCFTA) on its own is unlikely to be a driver of rating adjustments for regional sovereigns. It could be credit positive in the longer term if successful trade liberalisation leads to an improved business environment more broadly and stronger economic growth in Africa, says Fitch Ratings.
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