After years of easy Eurobond access and ramped-up Chinese lending, developing economies are now caught between rising interest rates and geopolitical tensions, making debt restructurings more numerous and more complicated. Despite some progress in inter-creditor talks, many debtor nations face an uncertain financial future.

Unquantifiable risk as a result of Covid-19 made the complex deal unworkable.

Citi’s chief executive for Kenya and east Africa tells Euromoney how Kenya’s banks have come together to buy ventilators; how Covid-19 will accelerate the adoption of digital banking; and why the removal of the interest rate cap is more important than ever for Kenya’s SMEs.

The fall in the oil price will benefit oil-importing countries such as Kenya, but the benefits may be lost because of the African continent's over-reliance on trade with China.

Kenyan property developer Acorn Holdings has issued a small but smartly structured bond programme, which will remove barriers to entry for local market bonds as local currency bonds retain appeal.

Kenya’s parliament passes a law to lift an interest rate cap that has hampered credit growth and economic development, in a move that may pave the way to a new agreement with the IMF.

Launched in January, Fuliza has already attracted more than four million customers, and Bob Collymore, CEO of Safaricom, hopes the product will reach all 21 million M-Pesa customers in Kenya.

Central bank governor Patrick Njoroge talks to Euromoney about the challenges of a turbulent year in Kenya and about his strategy to tackle them.

Barclays’ exit from the continent shows how banks based in developed countries are either unable or unwilling to support growth in emerging markets. But for institutions with a focus on Africa, the departure of such international rivals makes banking in the region look even more attractive.

Currency devaluations and swings in commodity prices have taken their toll on many a private equity investment in Africa in recent years, particularly for those who invested at the height of the Africa bull market between 2005 and 2013. These days, sponsors are picking their targets carefully, with a focus on domestic consumers and non-commodity exporters.

Angola