In The Economist (07/06/2007)
African financial markets are looking more attractive
Africa's financial markets are, at long last, becoming globalised. Low interest rates and saturated financial markets in OECD economies are pushing developed-world investors to look further afield, while the strengthening of African balance sheets (as a result of debt relief), underpinned by booming commodity export earnings and improved macroeconomic management, are making Sub-Saharan markets more enticing. The combination of "push" and "pull" factors is such that, over the next few years, four Sub-Saharan countries—Ghana, Kenya, Nigeria and Zambia—are expected to issue sovereign bonds in international markets for the first time.
Africa's financial markets are, at long last, becoming globalised. Low interest rates and saturated financial markets in OECD economies are pushing developed-world investors to look further afield, while the strengthening of African balance sheets (as a result of debt relief), underpinned by booming commodity export earnings and improved macroeconomic management, are making Sub-Saharan markets more enticing. The combination of "push" and "pull" factors is such that, over the next few years, four Sub-Saharan countries—Ghana, Kenya, Nigeria and Zambia—are expected to issue sovereign bonds in international markets for the first time.
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