The World Bank’s decision to open up its 25-year Eurorand offering for the third time late last month and the EIB’s R100 million ($23 million) five-year deal are signs of renewed confidence in this nascent market. The next step in the market’s maturing must be its use by local issuers, which is expected soon.
This would be a big step forward in the rebirth of South Africa’s capital markets which have not been without their difficulties over the past few years.
The toughest of these was last year when the local capital market took a severe knock, mainly when foreign investors jumped out because of a weakness in the rand.
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