No. 51 – 3AMReads: Mozambique and Ivory Persist and Attract Capital | African Development Bank Makes Case for Investing in Africa

Bloomberg: Traders Snap Up Assets of Nation Where Default Is New Normal

I’m not really sure what to make of this article. I wrote a several weeks ago about how I was nervous about hedge funds investing in countries like Mozambique. While the independent audit of the country’s finances seems to have given investors increased confidence in the country, are we certain Mozambique is rounding the corner in being able to make it’s debt payments? I’d hate to see this turn into a situation where investors just have more assets to play with in order to get their money.

Reuters: Ivory Coast says long dated Eurobond raised $1.25 bln, 625 mln euros

Despite the tensions with its military, Ivory Coast continues to attract capital. Good stuff.

African Development Bank: Adesina – Its time to reboot and boost US-Africa Commerce and Investments

The Corporate Council on Africa is hosting is US-Africa Business Summit this week. Is Commerce Secretary Wilbur Ross speaking at the Summit a signal that we’re a few inches closer to seeing the US start to roll out bits of an Africa policy?