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Latest articles in Zambia

African sovereign bonds through the pandemic: Winners and losers

It is – loosely speaking – the one-year anniversary from when African eurobonds began to feel the full force of the coronavirus pandemic. Although global markets began to weaken towards the end of February, we date the fall in Sub-Sharan Africa (SSA)...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 5 March 2021
African sovereign bonds through the pandemic: Winners and losers
African sovereign bonds through the pandemic: Winners and losers

Zambia: IMF statement marginally positive; programme still unlikely pre-election

The IMF released a statement after its virtual mission, which was held from 11 February to 3 March, saying that "significant progress has been made and discussions are expected to continue in the next few weeks, following additional technical work on...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 5 March 2021
Zambia: IMF statement marginally positive; programme still unlikely pre-election
Zambia: IMF statement marginally positive; programme still unlikely pre-election

Airtel Africa: Stake sale could unlock Airtel Money’s value; re-rating possible

In this report, we examine Airtel Money’s KPIs, assess its contribution to Airtel Africa, and compare it with EM payments peers. Airtel Money offers digital payments, microloans, savings products and international money transfer services in 14 Africa...
Tellimer Research Rohit
Rohit Kumar @ Tellimer Research 2 February 2021
Airtel Africa: Stake sale could unlock Airtel Money’s value; re-rating possible
Airtel Africa: Stake sale could unlock Airtel Money’s value; re-rating possible

Zambia is treading down the wrong path

Since Zambia entered default on 13 November, it has made little to no progress towards resolving its debt crisis. We therefore think a program will not materialise anytime soon, which will continue to keep Zambia’s creditors from the negotiating tabl...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 25 January 2021
Zambia is treading down the wrong path
Zambia is treading down the wrong path

Sovereign defaults in 2020: Experience and lessons

We've seen a record number of sovereign defaults on bonded (external) debt this year according to our records, at least in terms of recent history, although it was becoming obvious we were heading for a record even by the middle of the year. Second, ...
Tellimer Research Stuart
Stuart Culverhouse @ Tellimer Research 8 December 2020
Sovereign defaults in 2020: Experience and lessons
Sovereign defaults in 2020: Experience and lessons

Zambia likely to default today after creditors reject standstill

By the close of business today Zambia could become the fifth country globally and first in sub-Saharan Africa to default since Covid began. In addition, the government budgeted for eurobond payments in 2021 in case the standstill is rejected, creatin...
Tellimer Research Patrick
Patrick Curran @ Tellimer Research 13 November 2020
Zambia likely to default today after creditors reject standstill
Zambia likely to default today after creditors reject standstill