Zimbabwe Stock exchange continues to soar, with gains of 9.3% yesterday (14 September) in its industrials index which closed at 379.95, up by 163% this year.
On average Africans paying up to 12.4% ($25) to send $200 home, twice the global average. The fees cost Africans an estimated $1.8 billion a year, according to UK thinktank Overseas Development Institute.
Zambia went to the global market yesterday (13 September) with its first eurobond, a USD750 million 10-year bond priced at a 5.625%. It will be used to fund its budget and invest in infrastructure and the issue highlights “great appetite” for African credit.