Loan Market Report: West Africa (Apr 2018)

Brief overview of the loan market in select countries of West Africa.

Click here to download the report

Report includes a macro update as well as insights into the bank markets for each of Benin, Burkina Faso, Cabo Verde, Côte d‘ Ivoire, Ghana, Nigeria, Senegal, Sierra Leone and Togo.

Key take-aways:

  • Mixed views from market observers:
    • declining non-performing loans, yet still at high levelsstronger recapit
    • alisation of lenders expected in 2018-19 in some markets
    • forecasts for increasing and decreasing credit to private sector
  • Borrowers missing out on alternative pools of liquidity:
    • not deploying necessary resources to either find lenders or to meet their due diligence standards
    • forced to accept lender-defined structure as opposed to bespoke loan suited to their business needs
    • left with same old, stale, rigid structures from local banks that come with very high interest rates
  • Significant loan supply (upwards of $15m) from DFIs and debt funds for borrowers that can demonstrate:
    • some recurring and some hard currency revenues
    • positive and growing EBITDA
    • solid corporate governance and reputable auditors

Sophie Papasavva

Sophie Papasavva

Sophie Papasavva is the Founding Partner of EMFC Loan Syndications (“EMFC”), a boutique firm assisting companies seeking to raise bank debt. EMFC offers Loan Execution Support, acting as an additional ‘in-house’ resource to time-constrained finance teams. Prior to establishing EMFC, Sophie was a loans banker for 12 years, first as telecoms, media & technology relationship manager and later in loan syndications and sales, where she gained experience in multiple sectors such as oil & gas, mining, infrastructure, agribusiness and others. Sophie has originated, structured, executed, sold, restructured and syndicated loan financings ranging from simple bespoke bilaterals to complex multi-billion dollar, multi-currency syndicated transactions. Her expertise lies in arranging structured, bespoke financings for corporate borrowers operating in the emerging markets. To contact Sophie, please e-mail her directly at sophie@emfc-loans.com or follow her on Twitter at @Sophie_EMFC.