Lebohang Makhoa

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It’s OFFICIAL: AFRICA WILL launch its OWN credit ratings agency in 2025. Here’s what to know: A credit ratings company being established to meet the unique needs of Africa’s hashtag

#sovereign borrowers is set to be ready by next year, an hashtag

#AfricanUnion official said Saturday.

The institution won’t be owned by the regional bloc, Albert Muchanga, its commissioner for development, trade, tourism, industry and minerals, told reporters in Ghana’s capital, hashtag

#Accra. It’d be independent and professional, he said.

“We feel that we’ve not been treated very well when it comes to ratings and the cost of borrowing,” Muchanga said. “We want an institution developed by hashtag

#Africans to contribute to the process of de-risking the African capital market so that in the end we are able to have a situation where we can borrow competitively at home and abroad.”

African finance ministers first considered setting up such a body in 2021 amid complaints of unfair treatment by international hashtag

#creditratings firms that they said lead to higher interest rates relative to what other emerging-market borrowers and developed countries pay.

The task is being undertaken by the African Peer Review Mechanism, hashtag

#AfricanDevelopmentBank, hashtag

#AfricanExportImportBank and the hashtag

#AUCommission, Muchanga said. The project is at its next phase of operationalization that entails “coming up with the final work plan to ensure that we are able to roll it out,” he said

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Shift Impact Africa & Shared Value Africa are privileged to be part of the AU Midterm Review to release the Africa Export Competitiveness Report with our partners BADEA, Africa Capacity Building Foundation and Institute for Competitiveness (India) in Accra, Ghana. The report will be released on Sunday, 21 July.

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Ethiopian Capital Market Authority issues the hashtag

#Directive on 16 July that enables them to license stock exchanges, after consultation. This clears the way for the licensing of Ethiopian Securities Exchange (ESX), the first hashtag

#securitiesexchange in hashtag

#Ethiopia. Congratulations! hashtag

#regulation, hashtag

#capitalmarketdevelopment

Guaranty Trust Holding Company (GTCO) is raising NGN 400 billion ($253 million), Access Holdings Plc, parent of Access Bank Plc Nigeria’s biggest bank by assets, targets NGN 351bn ($222m) and FBNHoldings Plc, parent of Fidelity Bank, aims for NGN 127bn ($82m).

The CBN made the announcement in March and said banks need more capital after two large devaluations in the NGN since June 2023. News agency Reuters reported that more than 20 banks are affected.

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Just read an insightful report on African startup funding in H1 2024 by @TheBigDeal.

Some key takeaways:

• Total funding: $780M, down 57% from H1 2023

• Kenya leads with $244M (32%), followed by Nigeria $172M (23%)

• Transport & Logistics sector tops at $218M (28%), with FinTech close behind at $186M (24%)

• 85% of funding went to startups with no female founders

Despite the overall decline, it's encouraging to see sectors like mobility tech gaining traction. However, the persistent gender gap in funding is concerning.

What are your thoughts on these trends? How can we foster more inclusive growth in Africa's start-up ecosystem?

hashtag

#AfricanStartups hashtag

#VentureCapital hashtag

#TechInnovation hashtag

#JamiiTrade

Meet a hashtag

#sustainabilitybond champion from hashtag

#Tanzania

Tanzania’s NMB Bank Plc continues its success in pioneering hashtag

#impactinvesting in East Africa with a sustainability bond listed on the DAR ES SALAAM STOCK EXCHANGE and cross-listed on the London Stock Exchange and Luxembourg Stock Exchange.

This follows a first hashtag

#gender-linked bond, Jasiri, also issued by NMB in 2022.

The funds raised through the new bond will go to companies that are combating the climate emergency, support inclusive growth and are assessed as “high-impact”.

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Getting selected into one of the most prestigious accelerator programs has to be one of our major highlights this year. 🥳💯

The selection process was quite rigorous, meaning that our acceptance wasn't arbitrary.

SundryAgro is on a mission to open up channels for both local, intra-African trade through Agri eCommerce as well as export of quality farm produce into the international market.

Our goal is to catalyze economic growth by opening up new markets for smallholder farmers, ultimately solving the problem of post-harvest losses.

Our sincere appreciation goes to @africatechstartupforum and UVU Africa for providing such a platform for start-ups in hashtag

#Africa to grow and scale.

We keep building!🚀🚀

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Thoughts on this?

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On Tuesday, July 9th, the board and management of Access Bank Plc will be at the Exchange for a ‘Facts Behind the Rights Issue’ presentation.

Join us as the leadership of Access Bank Plc will discuss the opportunities available to investors through its capital-raising exercise.

hashtag

#NGX

hashtag

#AccessBankatNGX

hashtag

#FBRI