Anthony Osae-Brown

Scotland

Bureau Chief for Nigeria at Bloomberg L.P.

Bloomberg BC, Nigeria. Former Editor, BusinessDay. Opinions mine. RTs for research purpose, not endorsements.

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Articles

Emerging Markets End Strong Month on Sour Note With Trade Woes

6 days ago | news.bloomberglaw.com | Giovanna Azevedo |Anthony Osae-Brown

Indexes for emerging-market stocks and currencies dipped Friday on renewed trade tensions between the US and China, tarnishing the end of a positive month for the asset class. Markets wrapped up May on a sour note after a US court reinstatedPresident Donald Trump’s trade tariffs, reversing an earlier ruling that had blocked the levies. Risk sentiment took another hit after Trump said China “totally violated” a tariff agreement, spelling fresh turmoil for the US trade agenda.
Once-Shunned Ghana Bonds Deliver Best EM Returns in May

1 week ago | bloomberg.com | Anthony Osae-Brown

(Bloomberg) -- Ghana, the West African nation that defaulted three years ago, is on track to hand investors the best dollar-bond returns in emerging markets in May, amid mounting confidence in the government’s handling of the economy. Dollar-denominated bonds for the gold and cocoa producing country delivered 8.7% in total returns this month, according to data compiled by Bloomberg. It’s well above the average return of 0.4% for emerging markets in the period.
Barclays Advises Switch to Nigeria Shorter-Dated Dollar Bonds

1 week ago | bloomberg.com | Anthony Osae-Brown

Nnamdi Azikwe Street by Idumota market in Lagos, Nigeria. (Bloomberg) -- Barclays is recommending investors shift away from Nigeria’s longer-dated dollar bonds, noting that yields in the mid-section of the curve now look more attractive. Analysts led by Andreas Kolbe remain overweight Nigerian hard-currency bonds, but note the yield curve has lagged the steepening momentum seen in other emerging markets, where short-dated bonds have rallied more than longer maturities.
Lagos Startups Lure 42% More Funding, Defying Slowdown in Africa

2 weeks ago | bloomberg.com | Emele Onu |Anthony Osae-Brown

Lagos, Nigeria. (Bloomberg) -- Startups in Nigeria’s commercial hub of Lagos attracted 42% more investment last year, as the presence of businesses such as Flutterwave Inc. and Interswitch Ltd. showcased the city’s appeal as a hub for new enterprises. Companies in Lagos raised $252 million last year, up from $178 million in 2023, according to the Netherlands-based research firm Dealroom.co.
Nigerian Sovereign Fund Boosts Exposure to Asia, European Assets

2 weeks ago | bloomberg.com | Anthony Osae-Brown |Jennifer Zabasajja |Joumanna Bercetche

Aminu Umar-Sadiq in Doha, on May 20. (Bloomberg) -- Nigeria’s sovereign wealth fund reduced its exposure to the US at the beginning of this year and bought other investments to diversify its portfolio.
EM Risk Premium Narrows Most Since 2022 as Trade War Abates

3 weeks ago | news.bloomberglaw.com | Srinivasan Sivabalan |Anthony Osae-Brown

The risk premium on emerging-market debt narrowed by the most since November 2022, data from JPMorgan Chase & Co showed, as investors recalibrated their portfolios following a pause in the US-China trade war. The extra yield money managers demand to own EM sovereign dollar bonds rather than US Treasuries narrowed by 16 basis points on Monday, the data showed. That was due to a combination of an 11 basis-point increase in US government yields and a 5 basis-point reduction in EM yields.
S&P Sees UAE Issuing $18 Billion in Local Currency Debt in 2025

3 weeks ago | bloomberg.com | Anthony Osae-Brown

Dubai, United Arab Emirates. (Bloomberg) -- The UAE federal government and individual emirates are expected to issue a combined $18 billion in local currency loans this year as part of efforts to build a domestic debt yield curve, repay maturing obligations and partly fund budget shortfalls, global ratings firm S&P said.
Asset Managers Eye Nollywood for Blockbuster Returns (Correct)

1 month ago | news.bloombergtax.com | Emele Onu |Anthony Osae-Brown

Earlier this month, colorfully dressed film stars and gray-suited asset managers gathered on the top floor of a Chinese car showroom in Lagos to discuss how to make money on movies. Nollywood, as Nigeria’s freewheeling filmmaking industry is called, is a booming business. Hard figures are difficult to come by, but the country produces the second-highest number of movies in the world every year after India, and at least a million people are estimated to work directly or indirectly in the sector.
Asset Managers Eye Nollywood for Blockbuster Returns

1 month ago | bloomberg.com | Emele Onu |Anthony Osae-Brown

Nigerian filmmakers in a set in Lagos, Nigeria in 2023. (Bloomberg) -- Earlier this month, colorfully dressed film stars and gray-suited asset managers gathered on the top floor of a Chinese car showroom in Lagos to discuss how to make money on movies. Nollywood, as Nigeria’s freewheeling filmmaking industry is called, is a booming business.
Fitch Upgrades Nigeria to B Citing Commitment to Policy Reforms

1 month ago | bloomberg.com | Anthony Osae-Brown

Shoppers and traders in a congested street market in Lagos, Nigeria, on Monday, July 17, 2023. Nigeria’s monthly inflation rate soared to a seven-year high in June, after President Bola Tinubu scrapped fuel subsidies and allowed the currency to weaken before declaring a state of emergency to control staple food costs.