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21 Dec, 2020 Author Matt SmithMohammad Abbas Taqi
Landmark issuances of green instruments suggest a growing trend in the Middle East and North Africa; Lebanon s beleaguered banks prepare for another challenging year; and Kenyan lenders are set to benefit from a risk-based loan pricing model.
Green financing set to grow
Green sukuk and bond issuance in the Middle East and North Africa region will likely increase in 2021 as governments and state-linked companies seek to diversify their financing sources and take advantage of falling pricing.
Investor appetite for regional green debt appears strong, with three landmark issuances in September. Egypt s $750 million, five-year bond was the first by a MENA sovereign and received $3.7 billion of orders, while state-controlled Saudi Electricity Co. s $1.3 billion green sukuk was 4x oversubscribed. Investors from Europe and the U.S. bought 88% of Egypt s bond, which car
Credit guarantee scheme gives businesses lifeline
Thursday December 17 2020
Credit Bank CEO Betty Korir signs the Credit Guarantee Scheme agreement with the Treasury on December 8, 2020 in Nairobi. Looking on is the Kenya Bankers Association chairman Joshua Oigara (left), National Treasury CS Ukur Yatani (third left) and Treasury PS Julius Muia ( seated right). PHOTO | SALATON NJAU | NMG
By Joshua Oigara
Summary
A Credit Guarantee is effectively an insurance that gives lenders the confidence to extend loans to high-risk borrowers at flexible terms and often faster than under ordinary circumstances. Therefore, this move by Government is a tremendous show of confidence in our local enterprises.