Access via sign-up on the event app or by invitation only. English-French translation available.
Local currency debt markets are vital for Africa’s monetary and fiscal resilience. Despite this, outside South Africa and Nigeria, under 15% of sovereign bonds (2015–2023) were issued in local currencies with corporate bonds mirroring this trend. This contrasts with 89% of corporate bonds in Asia issued in local currencies. Shallow domestic investor bases, inflation volatility, regulatory fragmentation, and investor preference for hard-currency bonds impede Africa’s local currency issuances. But with African local currency bonds offering some of the world’s highest yields (10%+), a weakening dollar, and growing investor demand for diversification, could these markets finally flourish? This roundtable explores the digital issuances, credit enhancements, and regional coordination needed to achieve scale.
Key points:
- How can governments deepen local debt markets without crowding out the private sector?
- What financial innovations can improve market depth and investor confidence?
- How can countries build cross-border issuance frameworks with shared risk mitigation?