AFRICAN CREDIT OUTLOOK: AN ECONOMIST’S PERSPECTIVE

AFRICAN CREDIT OUTLOOK: AN ECONOMIST’S PERSPECTIVE

GAIMIN NONYANE Head of Economic Research desk and Project Manager for Local Knowledge Africa (LKA; an advisory arm at Ecobank Research) at the pan-African bank, Ecobank Group, based in London. Gaimin joined the bank in November 2012, and helped to launch the bank’s first ever Country Profiles, designed to give investors an insight into the operating environment in Middle Africa. Prior to that, she headed the sub-Saharan Africa desk on macroeconomic and political research at…

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Exploring The Benefits Of Bond Issuance In Nigeria

LAGOS, Nigeria, Capital Markets in Africa: Tax Savings Benefit Issuers of bonds enjoy some tax benefits from the deductible nature of the interest on bonds. On one hand this lowers the issuers’ taxes. On the other hand, dividends paid to equity holders are not tax-deductible and must come from income after-tax. Tax savings, therefore, help further reduce a company’s debt financing cost. Cheaper Cost Source of Funding Debt is generally cheaper than equity, because debt…

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