Matthew Hill

Cape Town, Zambia

Reporter at Bloomberg News

Reporting for work. mhill58 at bloomberg dot net + own opinions here Also @matthill3.bsky.social

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Articles

TDB Warns Losses on African Development Banks Set Dangerous Precedent - Bloomberg

4 days ago | bloomberg.com | Katarina Hoije |Matthew Hill

Forcing African development lenders to take losses in sovereign debt restructurings would set a dangerous precedent and increase the cost of financing on the continent, TDB Managing Director Admassu Tadesse cautioned.
Zambia Joins Ghana in Asserting Afreximbank Debt-Rework Plan - Bloomberg

1 week ago | bloomberg.com | Katarina Hoije |Matthew Hill

Zambia will restructure its debt with regional lenders including the African Export-Import Bank and remain in default on those payments until it completes the process, Finance Minister Situmbeko Musokotwane said.
25 African Startups to Watch in 2025

2 weeks ago | bloomberg.com | Rivaldo Jantjies |Loni Prinsloo |Matthew Hill

These solutions-oriented companies are focused on tackling regional challenges including health care, food storage and banking services. Bloomberg’s inaugural list of African startups highlights companies developing innovative solutions to the continent’s many challenges. Investors fled Africa last year as interest rates in developed nations peaked, leading to a 22% drop in funding.
Trump AfDB Cut Calls for Realignment, Aspiring Leader Says

4 weeks ago | bloomberg.com | Matthew Hill

The headquarters of the African Development Bank in Abidjan, Ivory Coast, in 2022. (Bloomberg) -- US President Donald Trump’s plan to cut hundreds of millions of dollars of funding to the African Development Bank will have outsized repercussions, said Samuel Maimbo, who plans on engaging the superpower if he’s elected to lead the lender later this month.
Zambia Mines Ministry to Unveil Local Content Rules by End June

1 month ago | news.bloomberglaw.com | Taonga Clifford Mitimingi |Matthew Hill

Zambia will by the end of this quarter announce new regulations governing the level of goods and services mining companies must give preference to local suppliers, the Ministry of Mines and Minerals Development said. The copper-rich nation’s government is still consulting with the industry and other relevant stakeholders on the matter, Paul Kabuswe told reporters Wednesday in Lusaka, the capital.
Why was Shedeur Sanders not drafted in the first round of the NFL Draft?

1 month ago | medium.com | Matthew Hill

By Matt HillFormer Colorado quarterback and famous son of Hall of Fame football player turned collegiate coach Deion Sanders had quite the party going on Thursday night. They had an electric atmosphere and some hip hop music playing, as shown on NFL Network. The party was on and about 8pm, Sanders’ name was supposed to in their eyes, to be called. There was only one problem. The call never came.
Zambia to Finalize Bilateral Debt-Revamp Deals by September

1 month ago | bloomberg.com | Matthew Hill

Situmbeko Musokotwane(Bloomberg) -- Zambia aims to sign debt-restructuring deals with its remaining bilateral creditors by the third quarter, said Finance Minister Situmbeko Musokotwane, helping to bring closure to a years-long effort. The copper-rich southern African nation has already finalized deals with France and Saudi Arabia, yet agreements with other creditor countries — including the largest, China — remain pending.
Zambia Sees Inflation Hitting Target for First Time Since 2019

1 month ago | bloomberg.com | Taonga Clifford Mitimingi |Matthew Hill

Shoppers walk through the City Market in Lusaka. (Bloomberg) -- Zambia’s annual consumer-price inflation is set to dip below 8% by year-end, the secretary to the treasury said, which would be the first time it falls within the central bank’s target range since 2019. Price growth in the copper-rich southern African nation reached nearly 25% in 2021, months after Zambia became Africa’s first pandemic-era sovereign defaulter, and this year it touched 16.8% in the wake of a crippling drought.
Trump Jolts Africa Nations Emerging From ‘Great Funding Squeeze’

1 month ago | bloomberg.com | Matthew Hill

The Central Business District of Johannesburg. (Bloomberg) -- African governments can barely catch a break. Just as regional finance ministers were beginning to get over what the International Monetary Fund dubbed “the great funding squeeze” in the aftermath of the Covid-19 pandemic, they’re facing another surge in borrowing costs that’s locked many out of credit markets once again.
Fuel Pumps Run Dry in Mozambique Capital as Dollar Deficit Bites

1 month ago | bloomberg.com | Tavares Cebola |Matthew Hill

From empty fuel pumps to dollars selling for a steep premium on the street, Mozambique’s foreign-currency crunch is becoming increasingly obvious in the natural gas-rich southeast African nation. Motorists in Maputo, the capital, hunt for filling stations that have stock and join increasingly long queues when they find them. Red and white tape cordoning off pumps that have run dry has become a common sight.