Global Market

ISTF Earmarks 100m Euro Support for Cotton in Cameroun

YAOUNDE, (Sundiata Finance) — The International Islamic Trade Finance Corporation (ITFC) (, a member of the Islamic Development Bank (IDB) Group (, signed a EUR 100 million syndicated agreement with the Government of Cameroon and Sodecoton as the Executing Agency for the export of cotton and the import of agricultural inputs. The Agreement was signed by HE Louis Paul Motaze, ...

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China Rises To Top Of African FDI League

(Sundiata Finance) – After a decade of economic and political engagement with Africa, China’s significance as an influencer and investor on the continent is in little doubt. However, until now the predominance of Chinese investments in infrastructure and other broader forms of capital injection had seen the country under-represented as a greenfield investor in the continent. This appears to be ...

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Angola In Talks With Banks For $2bn Eurobond Sale

(Sundiata Finance) – Angola is in talks with banks to raise $2 billion via a Eurobond in what would be the OPEC member’s biggest debt sale on global capital markets. The government has yet to choose banks to lead the deal and media reports that Russia’s VTB Bank PJSC has the mandate are false, the Finance Ministry said in an ...

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Emerging Market Funds See Largest Weekly Redemptions In 5 Months

(Sundiata Finance) – Stock funds suffer $1.6 billion of outflows in the week to August 16 Investors last week pulled money from emerging market (EM) stock funds for the first time in five months. Emerging market stock funds suffered $1.6 billion of withdrawals in the week to August 16, the largest weekly outflow since last December, according to data provider ...

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ABSA Bank, China Development Bank Sign $100m SME Financing Agreement

JOHANNESBURG, (Sundiata Finance) — Absa Bank Limited (, a subsidiary of the Barclays Africa Group (BAGL) (, has successfully concluded a five-year $100 million Special Facility Agreement with the China Development Bank (CDB). This is the first major transaction between the two lenders and is geared towards providing funding to Small and Medium Enterprises (SME). This will also benefit BAGL’s ...

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European Stocks Slump Ahead Of G20 Meeting In Germany

European stocks have retreated on Thursday as rising geopolitical tensions, oil volatility and mixed signals from the Federal Reserve have sapped investors’ appetite for risk. While the French CAC 40 Index has slumped by 1 percent, the German DAX Index is down by 0.8 percent and the U.K.’s FTSE 100 Index is down by 0.6 percent. Sodexo shares have slumped ...

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Investors Edgy As Super Thursday Gets Underway

Financial markets revealed subtle signs of stability on Thursday as investors remained on standby ahead of an array of high risk political and macroeconomic events that could spark extreme volatility. Asian shares were flat while European equities inched higher before the pending European Central Bank meeting. With caution still lingering in the air as traders brace for former FBI Director ...

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U.S. Stocks Slump As Apple Earnings Disappoint

(Sundiata Finance) – U.S. stocks traded lower on Wednesday, in part weighed down by an earnings-driven drop for Apple Inc., the world’s largest company by market value. Moves come ahead of the Federal Reserve’s closely watched policy update due 2 p.m. Eastern. The S&P 500 index SPX, -0.26% fell 6 points, or 0.3%, to 2,384. Technology losses, down 0.5%, led the ...

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