{"id":597249,"date":"2019-07-21T04:01:56","date_gmt":"2019-07-21T04:01:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/"},"modified":"2019-07-21T04:01:56","modified_gmt":"2019-07-21T04:01:56","slug":"in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/","title":{"rendered":"In a world where investors are bucking African stocks for African debt, Egypt shines at both"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <b>In a world where investors are bucking African stocks for African debt, Egypt shines at both:<\/b> With Egypt\u2019s GDP growing at 5.6% in FY2018-19, the country is bucking the \u201canemic\u201d economic growth witnessed by African peers, giving it a clear advantage as far as equity traders are concerned. South Africa\u2019s output contracted the most in a decade in 1Q2019, and its key index dropped 1.4% since April, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-07-17\/investors-gorge-on-african-bonds-but-they-re-dodging-its-stocks\">Bloomberg says<\/a>, while Nigeria is struggling to recover since the collapse of oil prices five years ago. Excluding South Africa, African stocks trade at a forward price-to-earnings ratio of barely 9 based on estimates for the next 12 months, far below the emerging and frontier market average ratio of 12. By contrast, the EGX30 has risen 4.6% YtD.<\/p>\n<p><b>Egypt remains the star in a burgeoning African debt market:<\/b> Even when looking at an African bull debt market, Egypt remains the most attractive carry trade there is. \u201cEGP bonds, which yield 16%, have made total returns of almost 8% over that period, extending their gain this year to 25%,\u201d Bloomberg notes. Foreign holdings in Egyptian treasuries stood at USD 19.2 bn mid-June, Vice Finance Minister Ahmed Kouchouk said at a presser <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/18\/foreign-holdings-of-sovereign-egyptian-debt-at-usd-19-2-bn-mid-june\/\">on Wednesday<\/a>. South Africa\u2019s debt is up 6.9% since the end of April and Nigeria\u2019s 4.7%, the news information service says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a world where investors are bucking African stocks for African debt, Egypt shines at both: With Egypt\u2019s GDP growing at 5.6% in FY2018-19, the country is bucking the \u201canemic\u201d economic growth witnessed by African peers, giving it a clear advantage as far as equity traders are concerned. South Africa\u2019s output contracted the most in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":597250,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[7098,2082,7106,104,72,164,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-africa","tag-carry-trade","tag-debt","tag-economy","tag-enterpriseam","tag-equities","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ab477ecd-ac2c-4c55-beeb-2f1ffba53702","is_powered_by":true,"section_story_id":"4d4d3eb7-cc68-4a66-97b3-c12fce56eb92","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/1490.png","photo_position":"above","related_issue":[597238],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>In a world where investors are bucking African stocks for African debt, Egypt shines at both - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"In a world where investors are bucking African stocks for African debt, Egypt shines at both\" \/>\n<meta property=\"og:description\" content=\"In a world where investors are bucking African stocks for African debt, Egypt shines at both: With Egypt\u2019s GDP growing at 5.6% in FY2018-19, the country is bucking the \u201canemic\u201d economic growth witnessed by African peers, giving it a clear advantage as far as equity traders are concerned. South Africa\u2019s output contracted the most in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-21T04:01:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1490.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"In a world where investors are bucking African stocks for African debt, Egypt shines at both\",\"datePublished\":\"2019-07-21T04:01:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\"},\"wordCount\":227,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/1490.png?fit=%2C&ssl=1\",\"keywords\":[\"Africa\",\"carry trade\",\"debt\",\"economy\",\"EnterpriseAM\",\"equities\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/in-a-world-where-investors-are-bucking-african-stocks-for-african-debt-egypt-shines-at-both\/\",\"name\":\"In a world where investors are bucking African stocks for African debt, Egypt shines at both - 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Egypt has raised more debt during this time period than Nigeria and South Africa combined. Egypt sold on Friday EUR 2 bn worth\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/2062.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592011,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/24\/egypt-listed-among-top-african-bond-markets-for-next-year\/","url_meta":{"origin":597249,"position":1},"title":"Egypt listed among top African bond markets for next year","author":"enterpriseam admin","date":"24 December 2019","format":false,"excerpt":"Egypt set to be among top African bond markets in 2020: Global investors have \u201creaped rich rewards\u201d from African countries\u2019 debt markets, which have outperformed all other EM regions in 2019, Bloomberg\u2019s Paul Wallace says. The strong performance should be sustained in 2020 \u201cif the world\u2019s major central banks remain\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/12\/424.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549451,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/us-stocks-hit-two-month-lows-investors-are-starting-to-come-back-to-frontier-market-african-debt\/","url_meta":{"origin":597249,"position":2},"title":"US stocks hit two month lows + investors are starting to come back to frontier-market African debt","author":"enterpriseam admin","date":"18 September 2022","format":false,"excerpt":"Another grim week for US equities: The three major US stock indices dropped to two-month lows on intensified recession fears at the end of last week, Reuters reports. Markets plunged on warnings from FedEx of an economic slowdown as it pulled its earnings forecast, following hotter than expected August inflation\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560825,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/15\/egypt-will-be-back-near-pre-pandemic-growth-rates-by-next-year-afdb\/","url_meta":{"origin":597249,"position":3},"title":"Egypt will be back near pre-pandemic growth rates by next year \u2013AfDB","author":"enterpriseam admin","date":"15 March 2021","format":false,"excerpt":"Egypt\u2019s economy will be back near its pre-pandemic growth rate in 2022, coming in at 4.9% compared to the 5.6% recorded in 2019, according to estimates in the African Development Bank\u2019s (AfDB) 2021 Economic Outlook report (pdf). While our economy grew at a 3.6% clip last year \u201cdespite the relatively\u2026","rel":"","context":"In &quot;MACRO&quot;","block_context":{"text":"MACRO","link":"https:\/\/enterpriseam.com\/egypt\/category\/macro\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/200.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545211,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/taiwan-rushes-to-set-up-chip-schools-amid-global-shortage-getting-a-degree-abroad-gives-african-founders-an-edge\/","url_meta":{"origin":597249,"position":4},"title":"Taiwan rushes to set up chip schools amid global shortage + Getting a degree abroad gives African founders an edge","author":"enterpriseam admin","date":"13 March 2022","format":false,"excerpt":"Is getting a degree abroad giving African startup founders an edge with securing investments? That\u2019s what a recent analysis by The BigDeal, a newsletter covering African startup investments, suggests. The analysis found that Africa-educated CEOs raised less \u2014 both in number of funding rounds (44%) and in amount (28%) \u2014\u2026","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/477.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631106,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/11\/south-african-insurer-sanlam-looking-for-african-acquisitions-egypt-entry\/","url_meta":{"origin":597249,"position":5},"title":"South African insurer Sanlam looking for African acquisitions, Egypt entry","author":"enterpriseam admin","date":"11 March 2018","format":false,"excerpt":"South African insurer Sanlam looking for Egypt entry, African acquisitions: South African insurer Sanlam is \u201cscouring Africa for more acquisitions to extend its lead as the continent\u2019s largest financial-services company outside of banking,\u201d Bloomberg reports. Sanlam is \u201clooking for \u2018bolt-on\u2019 acquisitions in Ghana, as well an entry into Egypt and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=597249"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597249\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597250"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597249"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597249"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}