Good Morning Africa
Good Morning Africa is your daily source of Economy and Business news from the continent. It is a product of @TheKFinancial, hosted by Ruth Adong.
Good Morning Africa
The Africa Debt Renminbi Shift
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The K Financial
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Season 5
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Episode 33
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An important signal may be emerging for African debt markets — and it’s coming from Kenya.
Nairobi has secured a debt re-profiling agreement with China, extending repayment on a 3.5 billion dollar loan by 15 years and shifting the denomination from US dollars to the Chinese renminbi.
For a continent where China remains the single largest bilateral creditor, this move could set a template.
Jibran Qureishi is the Head of Africa Regions Economic Research sheds light on this development.