Ray Ndlovu

Emerging equities were in the red on the last trading day of April after oil prices surged above $125 per barrel, though they stayed on track for their best month since 2009.

Citigroup Inc. says central Africa’s monetary bloc should consider devaluing its currency, which is pegged to the euro, in order to boost economic growth and stem a slide in reserves.

Nigerian assets are rallying across stocks, bonds and the currency as investor confidence builds in President Bola Tinubu’s economic agenda.

Central African countries have no plans to devalue their common currency despite economic pressure caused by weak growth and low foreign-exchange reserves, according to Bank of Central African States Governor Yvon Sana Bangui.

Senegal has two interest payments on foreign-currency bonds due next month and while analysts expect them to proceed, they come at a tense political time in the West African nation ahead of talks with the International Monetary Fund.

The Democratic Republic of Congo’s Eurobonds have remained resilient even as it grapples with an Ebola outbreak, buoyed by high yields and the nation’s exposure to metals that underpin the global artificial intelligence boom.

Morgan Stanley expects Zambia to revise its bond buyback offer higher in a bid to break an impasse with a group of bondholders resisting an initial price tabled almost a week ago.

Senegal made payments to bondholders ahead of schedule on two of its foreign-currency notes as the West African nation prepares to host the International Monetary Fund for talks on a new program later this month, according to people familiar with the matter.

Zambia’s world-beating local debt may be poised for further gains after the government’s success buying back a potentially costly dollar bond.

Ethiopia’s latest special auction has pushed dollar sales this year above the $2 billion mark, as authorities step up efforts to support the birr and narrow the gap between official and parallel-market exchange rates.