Ghana’s planned issue of a social bond could kickstart a trend in Africa.“With this issue we’re looking at refinancing those debts already raised to undertake projects in the environmental and social sectors,” Charles Adu Boahen, minister of state for finance, told Bloomberg this week, as Ghana prepares to raise up to $1 billion through bonds.Many more countries in Africa are likely to follow Ghana’s example, says Churchill Ogutu, head of research at Genghis Capital in Nairobi, because of the pandemic’s devastating impact on tax revenues, and the need to fund critical social sectors.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.
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