KEY INDUSTRY VIEWS: AFRICA
December 17, 2021
OFAC SDN List Update: Central African Republic Designation.
February 9, 2021
Fitch Ratings Downgrades Ethiopia’s Long-Term Foreign Currency Issuer Default Rating from B to CCC.
October 21, 2020
S&P Global Ratings Service Downgrades Zambia’s Long-Term Foreign Currency Rating from CCC- to SD.
August 7, 2020
OFAC SDN List Update: Hong Kong-related Designations; Central African Republic Designation.
May 27, 2020
EMTA Webinar: Economic Outlook on Sub-Saharan Africa. Click Here to Register.
August 28, 2019
EMTA Forum on Sub-Saharan Africa in London to be Held on September 24, 2019. Click Here to Register.
January 30, 2019
EMTA Forum on Sub-Saharan Africa in New York to be Held on February 26, 2019. Click Here to Register.
June 14, 2018
EMTA Forum on Sub-Saharan Africa in London to be Held on Tuesday, September 25, 2018. Click Here to Register.
December 15, 2017
Nigerian FMDQ Publishes Notice of Proposed Cessation of NiFEX rate.
August 7, 2017
EMTA Forum on Sub-Saharan Africa in London to be Held on Tuesday, September 19, 2017. Click Here to Register.
June 29, 2017
Global Group of Mozambique Bondholders Welcomes Release of Kroll Summary Report and Comments on Recent Developments.
April 3, 2017
S&P Global Ratings Downgrades South Africa’s Long-Term Foreign Currency Rating from BBB- to BB+.
November 8, 2016
Global Group of Mozambique Bondholders Announces Formation.
Mozambique's Ministry of Finance Presentation.
August 5, 2016
Moody's Assigns Cameroon a Foreign-Currency Issuer Rating of B2.
August 3, 2016
EMTA Forum on Sub-Saharan Africa in London to be Held on Wednesday, September 21, 2016. Click Here to Register.
July 8, 2016
Moody’s Downgrades Mozambique’s Issuer Debt Rating from Caa1 to Caa3.
April 29, 2016
Fitch Downgrades Mozambique’s Long-Term Foreign Currency Issuer Default Rating from B to CCC.
Moody's Downgrades Nigeria's Long-Term Issuer Rating from Ba3 to B1.
Moody's Downgrades Gabon's Government Issuer Rating from Ba3 to B1.
Moody's Downgrades Republic of Congo's Government Issuer Rating from B1 to B2.
Moody's Downgrades Angola's Long-Term Issuer Rating from Ba2 to B1.
April 19, 2016
Moody’s Downgrades Zambia’s Long-Term Issuer Rating from B3 to B2.
March 15, 2016
Moody's Downgrades Mozambique's Issuer Rating from B2 to B3.
February 12, 2016
Standard & Poor’s Downgrades Angola’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to B.
January 29, 2016
Standard & Poor’s Downgrades Gabon’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to B.
November 5, 2015
Moody's Upgrades Côte d'Ivoire's Long-Term Sovereign Rating from B1 to Ba3.
August 17, 2015
EMTA Forum on Sub-Saharan Africa in London to be Held on Thursday, September 24, 2015. Click Here to Register.
July 6, 2015
Standard & Poor's Downgrades Mozambique’s Long-Term Sovereign Rating from B to B-.
May 28, 2015
EMTA, ISDA and the FXC Publish Amendments to Annex A to the 1998 FX and Currency Option Definitions.
August 11, 2014
EMTA Forum on Sub-Saharan Africa in London to be Held on Tuesday, September 23, 2014. Click Here to Register.
July 21, 2014
EMTA publishes New and Updated FX Documentation for Trading the Ghanaian Cedi, Kenyan Shilling and Zambian Kwacha. Please Click Here to see Market Practice No. 74, Click Here to see the GHS, KES and ZMW NDF and NDO Template Terms and Click Here to see the GHS, KES and ZMW Rate Source Definitions.
February 4, 2014
Bank of Ghana Notice to Banks and the General Public on Repatriation of Export Proceeds and Bank of Ghana Revised Rules on the Operations of Foreign Exchange Accounts and Foreign Currency Accounts.
September 5, 2013
EMTA Forum on Sub-Saharan Africa in London to be Held on Monday, October 7, 2013. Click Here to Register.
June 11, 2012
EMTA Launches the Africa Focus Portal, providing convenient access to Africa-related resources on www.emta.org.
May 2, 2012
EMTA publishes standard terms for GHS/USD non-deliverable FX transactions. CLICK HERE for Recommended FX and Currency Derivatives Market Practice No. 65.
April 30, 2012
Fiscal Agent Notice Regarding May 15, 2012 Payment on Nigeria Payment Adjustment Rights.
January 23, 2012
Ivory Coast Investor Meeting Presentation.
January 16, 2012
FT Article: Egypt Asks IMF for $3.2bn Standby Facility.
January 13, 2012
Ivory Coast Meeting Invitation to Creditors.
December 21, 2011
Moody's Downgrades Egypt's Government Bond Rating from B1 to B2.
November 21, 2011
Communique from Ivory Coast Minister of Economy and Finance.
October 31, 2011
Fiscal Agent Notice Regarding November 15, 2011 Payment on Nigeria Payment Adjustment Rights.
October 28, 2011
Resolutions of the 28th October 2011 CBK/ACI Members Q&A Session at Mayfair.
September 2, 2011
EU Amends Libyan Sanctions – Cleary Gottlieb Explanatory Memo.
February 4, 2011
December 14, 2010
EMTA today announces the publication of its Recommended FX and Currency Derivatives Market Practice No.54 on Template Terms for Nigerian Naira Non-Deliverable Forward FX Transactions. See EMTA’s website (FX and Currency Derivatives Documentation and Market Practices) for documentation and more information.
March 24, 2010
Ivory Coast Investor Presentation.
March 17, 2010
Holders of Côte d'Ivoire Brady Bonds Are Required to Confirm Their Eligibility to Participate in the Exchange Offer by Visiting www.dfking.com/RCI, or Contacting D.F. King, the Information Agent, at D. F. King (Europe) Ltd., One Ropemaker Street, London EC2Y 9AW, +44 (0) 20 7920 9700, RCI@dfking.com.
February 26, 2010
UK Debt Relief Legislation Update
November 30, 2009
The Return of Frontier Markets: Is Africa Back in Business?
October 2, 2009
Press Release for Ivory Coast Sphynx Noteholders.
September 28, 2009
Ivory Coast Strikes London Club Deal.
November 20, 2007
Revised Primers for Venezuela Oil Obligations and Nigeria Payment Adjustment Warrants, and EMTA Advisories Regarding Venezuela Oil Obligations and Their Related Payments and Nigeria Payment Adjustment Warrants and Their Related Payments.
July 5 2007
EMTA's Seminar on the Côte d'Ivoire - After the Peace: Finding the Path to Rehabilitation and Debt Sustainability, hosted by UBS, London on July 26, 2007. Click Here to Register.
June 11, 2007
BNP Paribas, as Servicing Institution of the Restructuring and Consolidating Agreement dated September 20, 1990 (RCA), has been advised by the Kingdom of Morocco of its intention to prepay Tranche A in full (principal plus interest) on July 2, 2007 pursuant to clause 21.02 of the RCA.
June 7, 2007
Netting and Offset Facilities Completed for Nigeria and Venezuela Warrants.
EMTA Summer Forum in London to be Held on June 28, 2007. Details TBA.
March 15, 2007
Nigeria Press Release Regarding Warrant Tender Offer.
March 1, 2007
Congo Press Release Relating to London Club Meeting.
February 26, 2007
Nigeria Launches Tender Offer for Warrants.
February 19, 2007
Donegal International Ltd. v. Republic of Zambia and ANR Transcript.
January 26, 2007
Nigeria Hires Citigroup for Planned Tender Offer for Warrants.
January 11, 2007
Nigeria Intends to Launch Tender Offer for Warrants
October 18, 2006
EMTA's Focus on Africa: The Nigerian Financial Markets to Be Held on November 9, 2006. Click Here to Register.
September 13, 2006
AF-Cap v. Congo Petition for Rehearing En Banc.
August 24, 2006
Fifth Circuit Decision in AF-Cap v. Congo.
March 31, 2006
Ivory Coast Press Release.
February 6, 2006
Nigeria Assigned a BB- by Standard & Poor's.
January 30, 2006
Nigeria Assigned a BB- Rating by Fitch.
August 25, 2005
Fitch Upgrades South Africa's Long-Term Foreign Currency Rating to BBB+.
August 9, 2005
Standard & Poor's Raises Morocco's Long-Term Foreign Currency Rating to BB+.
August 1, 2005
Standard & Poor's Raises South Africa's Long-Term Foreign Currency Rating to BBB+.
June 29, 2005
Paris Club Sets Naples Terms for Nigeria.
November 12, 2004
Euroclear Notice Regarding Nigeria Payment Adjustment Rights.
September 8, 2004
EMCC Notice Regarding Exiting of Failed Warrant Transactions.
May 16, 2003
Citibank Informs EMTA of Missed Payment on Nigeria Payment Adjustment Rights. Previous Payment Due on May 15, 2001 was Paid with Interest on November 15, 2001.
January 7, 2003
Nigeria Announces Collateral Value for Par Bond Invitation.
December 5, 2002
Nigeria Exchange Offer Extended from December 6 to December 20. Bond Instructions Must be Submitted by 3:00 PM (London Time) on December 19; Letters of Transmittal Must be Submitted by 3:00 PM (London time) on December 20; and the Clearing Price for the Bonds will be Announced on December 23.
October 30, 2002
Brady Bond Holiday Schedule for US Veterans Day Holiday.
The Fiscal Agent has Confirmed that the November 15 Payment Amount Relating to Nigeria Warrants is Zero.
March 8, 2002
The Slide Presentation Made by Paris Club Officials at a Meeting with Private Sector Representatives Is Available at http://www.clubdeparis.org/rep_upload/presentationcomplete0.pdf.
November 15, 2001
Primer on Venezuela Oil-Indexed Payment Obligations.
April 5, 2001
Market Practice for Ivory Coast Bonds.
June 23, 2000
BNP Luxembourg, the Fiscal Agent for Ivory Coast, has Announced that the New Record Date for the Remaining Portion of Interest Due on the PDI, Discount and Front-Loaded Interest Reduction Bonds will be July 7, 2000, with a Payment Date of July 17, 2000.
May 26, 2000
BNP Luxembourg, the Fiscal Agent for Ivory Coast, has Announced that:
(1) the Record Date for Principal Payments on PDI Bonds is May 16, 2000, with a Payment Date of May 23, 2000, and
(2) the Record Date for a Portion of Interest Payments on PDI, Discount & Front-Loaded Interest Reduction Bonds is May 24, 2000, with a Payment Date of June 2, 2000.
October 19, 1998
Market Practice for Morocco Restructured Loan.
August 31, 1998
Market Practices for the trading and settlement of Nigeria Promissory Notes.
September 27, 1996
Market Practice for trades of Brady bonds with related Rights or Warrants.
September 30, 1992
Market Practices for trading bonds with related rights or warrants.