Opportunities In: Sub-Saharan Africas Capital Markets

Publication Date	November 2007
Publisher	IFR Market Intelligence
Product Type	Report
Pages	202
ISBN Number	not applicable
Product Code	IFR00003

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Summary

Edited by Richard Segal

Few would have predicted even five years ago that countries such as Benin and Burkina Faso would today have sovereign credit ratings at all, let alone ratings as high as Single B. This is indicative of the quiet yet radical change across Sub-Saharan Africa's banking and capital markets sector recently, where a picture of opportunity is emerging for those banks and investors willing to venture into a region long-considered too risky.

Opportunities in: Sub-Saharan Africa's Capital Markets is the most comprehensive and authoritative analysis available on the region's economic and banking sector transformation. It tracks the reforms that have been made in recent years and highlights the openings they have created. It also assesses what further changes are needed to unlock the region's full potential.

Featuring insightful contributions from leading banking practitioners from the private sector as well as from supranationals such as the World Bank and the IMF, and packed with practical advice on doing business in the region, this report should be essential reading for anyone looking to exploit its rich potential while avoiding its not inconsiderable pitfalls.

The report features country profiles, each providing:

Country economic overview
Forward-looking political and economic risks
Investment regulations, exchange and currency controls
Recent capital market developments
Financial sector overview
Government securities markets
Ratings agency summaries

Countries profiled include:

Benin, Botswana, Burkina Faso, Cameroon, Ethiopia, Ghana, Kenya, Madagascar, Mali, Mozambique, Nigeria, Senegal, Seychelles, South Africa, Tanzania, Uganda, Zambia, Zimbabwe

Content

Introduction
Section 01 Reform And Governanced Governance
- C01 Connecting Africa And Asia
  - Africa In The Global Context
  - Economic Fortunes Shaped By Geography
- C02 How To Lend To African Countries Aftera Decade Of Debt Relief
- C03 Vulnerability Analysis In The Sub-Saharan Context
- C04 Kenya Trading, With No Aid
- C05 Due Diligence In Africa
- C06 East Africa: A Road Map Of Investment Opportunities And Risks
Section 02 The Credit Markets
- C07 The Outlook For Sovereign Bond Issuance
- C08 Local Debt Markets The Zambian Template
- C09debt Trading Trends A Tiger In Waiting
  - Country Trends
  - Cte Divoire
  - Nigeria
  - Zambia
  - Other Countries
Section 03 The Financial Sector
- C10 Outlook For The Nigeria Banking Sector
- C11 Insurance In Nigeria And Kenya A Growth Market
- C12 Bankable Assets
Section 04 The Equity Markets
- C13 Sub-Saharan Equity Markets Prospects Forthe Future
  - Introduction
  - Nigeria
  - Kenya
  - Cte Divoire
  - Botswana
  - Mauritius
  - Ghana
  - Zambia
  - Malawi
  - Uganda
  - Zimbabwe
- C14 Africa A Great Investment Opportunity
- C15 Why Africa Does Not Get More Equity Investment
Section 05 The Real Economy And Background Intelligence
- C16 Economy Case Studies
- C17 Country Credit Profiles
  - Countries Given In Text Above And Including Details Of:
  - Rationale
  - Economic Background
  - Public Finance Management
  - Foreign Investment
  - Public And Private Sector Governance
  - Socioeconomic And Infrastructure Challenges
  - Monetary Environment
  - Political Environment
  - Outlook
- C18 Fixed Income Markets
  - Angola, Botswana, Cameroon, Democratic Republic Of Congo, Cte Divoire, Ethiopia, Ghana, Kenya, Malawi, Mauritius, Mozambiqu, Namibia, Nigeria, Senegal, Tanzania, Uganda, Zimbabwe
  - Including Coverage Of:
  - Fixed Income Markets
  - Government Securities
  - Non-Central Government Issuance
  - Clearing And Settlement
  - Secondary Market
  - Foreign Exchange
  - Derivatives
  - Participation Of Foreign Investors And Issuers
  - Investment Taxation
- C19 Foreign Exchange And Money Market Trading Conventions
  - Gabon And Cameroon
  - Cte Divoire
- C20 Ease Of Doing Business Indicators: How Does The Sub-Saharan Region Measure Up?
Tables & Figures
Over 120 Charts Of Key Data Are Included In This Comprehensive Report