ZAMBIA will be among other African countries at the Africa-Debt Capital Markets Summit in London next month as it plans to sell its first 500 million euro bonds this year.
The event scheduled to take place on June 21, 2011 will be organised by the African Banker magazine and Springwood Capital in collaboration with the London Stock Exchange.
Recently, Zambia obtained a B+ credit rating by Fitch Ratings and Standard and Poor’s because of its general good economic policies and performance.
According to the African Banker website, the summit aims at uncovering the potential of one of Africa’s most viable markets and will bring together prospective bond issuers from Africa (sovereign and institutional) to interact with potential investors and operators.
“Ministers and government officials from Nigeria, Kenya, Ghana, Zambia, Tanzania, Uganda, and Côte d’Ivoire are expected to attend.
“It will be attended by the buy and sell sides of the financial services industry and will uncover developments and opportunities. Attendees will also hear first-hand from current issuers and investors,” the statement said.
At least five countries from Africa including Zambia are looking at issuing a sovereign bond this year with many others, including a number of local companies, looking at tapping international financial markets for debt in the near future.
Among other firms expected to participate include BUA Group, Diamond Bank Plc, Dangote, Kengen, Oando, PTA Bank, Sea and Trucks Group.
Others are Nedbank Capital, FM Capital Partners, Rand Merchant Bank, Standard Chartered Bank, UBS, Absa Capital, Aberdeen Asset Management, African Development Bank, Ashmore Group, PIMCO, Control Risks, Fitch Ratings and SNR Denton will also participate.
The statement says African governments, parastatals and private enterprises are increasingly turning to financial markets to fund investments and expansion plans.
It adds that with European debt looking seemingly unattractive, and interest rates in the West at historic lows, African debt has become an attractive alternative for investors.
The Africa-Debt Capital Markets Summit is expected to bridge the information gap.
Please stop Sata. He will come and destroy all this progress. He is a typical old fashioned African leader giving promises that he very well knows he cannot deliver. It is hard work and toil that that will take us to the next stage in our develpoment. Investors are falling upon themselves to invest in Zambia. We should not take this for granted. No room for envy either.
I understand Zambians in the diaspora are going to make a big investment in Zambia imminently. You see, opportunities in Zambia are not exclusively left to foreigners. You can also be a benefactor as a member of this investment club. You do not even need to be in the diaspora to be part of it. Zambiadiaspora.com
This is an important summit. To whoever is responsible for selecting people to attend this meeting, please send the correct people…people with the right credentials for such a summit. Let’s not have danda heads, passengers, none performers, dead weights and the like, representing us just because of travel allowances. You can send them to other meetings fitting their caliber.
I will not be surprised to see Kamwendo Munjila travelling to London to represent Zambia.
Well, to misrepresent Zambia by snoring Kayope style at the conference of ministers.