Fitch Ratings has affirmed African Export-Import Bank's (Afreximbank) Long-Term Issuer Default Rating (IDR) at 'BBB-' with Stable Outlook. Fitch has also affirmed the bank's Short-Term IDR at 'F3' and senior unsecured debt at 'BBB-'.
The African Exchange Linkage Project (AELP) is a joint initiative by the African Securities Exchanges Association (ASEA) and the African Development Bank to facilitate cross-border trading and settlement of securities in Africa, unlock Pan-African investment flows, promote innovations that support diversification for investors, and address depth and liquidity in the markets.
Governance, good regulation and availability of market data and prices help African fund managers decide on investing into other African markets, according to a survey of 50 African asset-managers for the African Exchanges Linkage Project (AELP) project. Key factors when they choose new markets are: market regulation (91% of replies), followed by investor regulation and availability of market data and prices (90% each).
The seven leading African stock exchanges struck about $1.6 billion in cross-border deals in 15 months as fund managers expressed optimism on the prospects of investments in the African markets.
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