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

Risk-On Appetite Boosts African Bonds After Middle East Truce

2 days ago | bloomberg.com | Anthony Osae-Brown

Egyptian bonds led the gains in emerging markets on Wednesday. (Bloomberg) -- African bonds are rallying as investors return to high-yield assets amid bets that the truce between Israel and Iran will hold, with lower oil prices cutting inflation expectations and boosting real rates on the continent. A gauge measuring the performance of African sovereign and quasi-sovereign dollar bonds jumped 1% on Wednesday, the most in nearly two months.
MSCI Says it Needs More Time to Assess Nigeria’s Forex Reforms

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

(Bloomberg) -- MSCI Inc. said it needs more time to assess the impact of foreign exchange reforms in Nigeria, suggesting the global index provider is not yet ready to restore the West African’s country’s frontier-market status. Operational modifications in Nigeria’s foreign exchange market have improved liquidity, but “more time is needed to assess the impact of these changes,” MSCI said in its annual market accessibility review.
Precious Metals Gains Pushing Several African Currencies Higher

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

A mobile money agent in Lusaka, Zambia. (Bloomberg) -- A surge in the price of precious metals is helping several African currencies to rebound from a weak start to the year. The Zambian kwacha is up about 8% so far in June, the best performance globally. It’s followed by the Tanzanian shilling, up 4% this month, and not far after by the Nigerian naira, up 3.1%, according to data compiled by Bloomberg.
Israeli Assets Gain as Traders Gauge Netanyahu Coalition Woes

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

Israeli Prime Minister Benjamin Netanyahu (Bloomberg) -- Israel’s bonds and stocks rose as markets began factoring in that Prime Minister Benjamin Netanyahu’s government was at risk of collapse, an outcome that some traders view as a positive for the economy. The government’s dollar bond due in 2048 jumped more than a cent on the dollar to 74 cents, one of Thursday’s best performers across emerging markets.
Israeli Assets Gain as Traders Gauge Netanyahu Coalition Woes

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

9 hours agoIsraeli forces have recovered the bodies of two Israeli-Americans taken back to Gaza as hostages during the Hamas-led attack on southern Israel on 7 October 2023, the Israeli military says. Judi Weinstein Haggai, 70, who was also a Canadian citizen, and her husband Gadi Haggai, 72, were murdered by …
Emerging Markets End Strong Month on Sour Note With Trade Woes

4 weeks 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

4 weeks 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 month 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

1 month 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

1 month 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.