The Guinean state raised 4,579 billion Guinean francs, or 183.17% of the initial target, through a bond issue in which seven banks took part. Afriland First Bank Guinea provided nearly 30% of the funds, according to Ecomatin.
The Guinean state raised 4,579 billion Guinean francs, or 183.17% of the initial target, through a bond issue in which seven banks took part. Afriland First Bank Guinea provided nearly 30% of the funds, according to Ecomatin.
The Guinean government’s bond issue raised 4,579.145 billion Guinean francs, around 530 million dollars, against a target of 2,500 billion. Subscriptions, which closed on 23 October, reached 183.17% of the target for the five-year issue paying 11% interest, according to central bank data cited by Financial Afrik.
First National Bank is relaunching unsecured business loans, pre-approved based on the banking data of eligible companies, to finance their working capital and expansion. Mark Achiampong, the bank’s head of commercial and business banking, presents the offer as a way to facilitate small and medium-sized enterprises’ access to credit.
Afriland First Bank is leading a CFA-franc 166 billion bond issue launched by Guinea. The bank is drawing on 15 years of experience structuring and placing sovereign issues in Cameroon, according to Ecomatin.