The past two years were the most active in the history of sub-Saharan Africa’s sovereign bond issuances.
In early April, South Africa issued its first sovereign bond in over two years. The ten-year, $1.25 billion bond was oversubscribed by a factor of two. This is the first international bond issued by a sub-Saharan African nation in 2016. It is likely to be followed by Kenyan, Nigerian and Ghanaian issuances.