{"id":3959,"date":"2015-09-02T05:11:20","date_gmt":"2015-09-02T09:11:20","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/the-african-development-bank-announces-expansion-of-its-african-bond-index\/"},"modified":"2015-09-02T05:11:20","modified_gmt":"2015-09-02T09:11:20","slug":"the-african-development-bank-announces-expansion-of-its-african-bond-index","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/the-african-development-bank-announces-expansion-of-its-african-bond-index\/","title":{"rendered":"The African Development Bank Announces Expansion of its African Bond Index"},"content":{"rendered":"
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Botswana and Namibia join index family bringing transparency to most liquid African bond markets<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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Abidjan, Ivory Coast, September 2, 2015 – The African Development Bank (AfDB) through the African Financial Markets Initiative (AFMI) launched its AfDB\/ AFMISM<\/sup> Bloomberg\u00ae African Bond Index (ABABI) in February 2015.\u00a0 Calculated by Bloomberg Indices, the composite index is currently comprised of the Bloomberg South Africa, Egypt, Nigeria and Kenya local currency sovereign indices and will be joined from October 2015 by Botswana and Namibia.<\/p>\n

“As more African countries are increasingly looking to domestic capital markets to source much needed financing for economic development, we are delighted to welcome Botswana and Namibia to the index and expect to include more countries to it as soon as reliable pricing information is made available,\u201d says Stefan Nalletamby, the Director of the Financial Sector Development Department of the AfDB.<\/p>\n

The expanded index will now include the six most liquid sovereign bond markets in Africa and three sub-indices for different maturity ranges. To be included in the index, a security must have at least one year remaining to maturity and withstand price stability tests.<\/p>\n

The AFMI works to deepen the continent\u2019s local currency bond markets and also strives to create an environment where African countries can access financing at variable terms. By providing transparent and credible benchmark indices, the AFMISM<\/sup> Bloomberg\u00ae African Bond Index provides investors with a tool with which to measure and track the performance of Africa\u2019s bond markets.<\/p>\n

The composite index is available to Bloomberg Professional\u00ae service subscribers via {BADB Index}. More on the AFMI can be found at www.africanbondmarkets.org<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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Media Contact:<\/strong><\/p>\n

Cedric Mbeng Mezui: AFMI coordinator (AfDB), c.mbengmezui@afdb.org, tel. +225 20 26 3813<\/p>\n

Catrin Thomas, Bloomberg L.P., cthomas106@bloomberg.net, tel. +44 20 7392 0673<\/p>\n

\u00a0About the African Development Bank: <\/strong><\/p>\n

The African Development Bank Group (AfDB) is Africa\u2019s premier development finance institution. Founded in 1964, it comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information, please visit www.afdb.org.<\/p>\n

\u00a0About Bloomberg: <\/strong><\/p>\n

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. Bloomberg\u2019s enterprise solutions build on the company\u2019s core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Government, Bloomberg New Energy Finance and Bloomberg BNA, the company provides data, news and analytics to decision makers in industries beyond finance. And Bloomberg News, delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and three magazines, Bloomberg Businessweek, Bloomberg Markets and Bloomberg Pursuits, covers the world with more than 2,400 news and multimedia professionals at more than 150 bureaus in 73 countries. Headquartered in New York, Bloomberg employs more than 17,500 people in 192 locations around the world. For more information visit www.Bloomberg.com\/company<\/p>\n

Bloomberg\u00ae is a service mark of Bloomberg Finance L.P. and its affiliates and has been licensed to the African Development Bank.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The African Development Bank (AfDB) through the African Financial Markets Initiative (AFMI) launched its AfDB\/ AFMISM<\/sup> Bloomberg\u00ae African Bond Index (ABABI) in February 2015.\u00a0 Calculated by Bloomberg Indices, the composite index is currently comprised of the Bloomberg South Africa, Egypt, Nigeria and Kenya local currency sovereign indices and will be joined from October 2015 by Botswana and Namibia.<\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","categories":[86,17],"press_tag":[110],"class_list":["post-3959","press","type-press","status-publish","format-standard","hentry","category-bloomberg-professional-services","category-press-announcement","press_tag-bloomberg-professional-service"],"yoast_head":"\nThe African Development Bank Announces Expansion of its African Bond Index | Press | Bloomberg LP<\/title>\n<meta name=\"description\" content=\"The African Development Bank (AfDB) through the African Financial Markets Initiative (AFMI) 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