IFC bond facility shields Afro businesses from forex risks

Friday, May 11, 2012

Botswana is among six African countries that will benefit from a pan-African bond programme introduced to the market this week by the International Finance Corporation (IFC) in partnership with Standard Chartered Bank.

The program is aimed at increasing the availability of local-currency financing for private sector businesses in the earmarked African countries.

In a joint statement released by the two institutions, the IFC says the Pan-African Debt Medium-Term Note Programme will initially focus on Zambia, Ghana, Kenya, South Africa, Uganda and Botswana, but does not give an indication of the amounts involved.

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