Over the past 18 months, African sovereigns have come on to the international community’s radar – for all the right reasons. Successful Eurobond issues have brought previously unknown – often obscure – African credits to the forefront of emerging markets investments.
There are now an impressive 11 sub-Saharan African countries in JPMorgan’s Emerging Market Bond Index: Angola, Côte d’Ivoire, Gabon, Ghana, Mozambique, Namibia, Nigeria, Senegal, South Africa, Tanzania and Zambia. All of them have raised at least $500 million on the bond market.
“This is an exciting period,” says Jan Dehn, head of research at Ashmore Group, an emerging markets investment manager.
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