Ethiopia emerges as a market that investors can’t ignore


Views
Issue 291 - 18 Dec 2014 | 4 minute read

The success of Ethiopia’s $1bn, ten-year sovereign bond issue, to provide hard currency to finance infrastructure investment, has chalked up another significant triumph for its ‘developmental state’ – a highly centralised form of societal organisation that has delivered positive economic results despite exhibiting deeply-rooted authoritarian tendencies. Despite a range of potential political and economic risks, outlined in the bond’s 108-page prospectus, the poorest country ever to tap the global sovereign market attracted bids worth $2.6bn for a $1bn offer, at a competitive 6.625% interest rate.

Tagged with:

Pin Ethiopia

Want to read more?

Subscribe to African Energy

View subscription options

This article is available to registered users

Login

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register