RicherFin Research

Research on African Financial Markets

Empirical research, market structure and investment analysis across African markets.

Research Archive

Latest Research

All October 2026
RF-ES-003 Economics & Sovereign · Sovereign Credit / Fiscal Risk 22 Sep 2026

Senegal's Fiscal Deterioration and Sovereign Eurobond Repricing

Did Senegal's hard-currency sovereign bonds reprice relative to regional curves during the February 2025 fiscal-information sequence?

This study examines Senegal's EUR and USD sovereign curves during the February 2025 fiscal-information sequence. It compares each eligible bond with maturity-matched regional curves and tests whether the relative movement survives an additional sovereign benchmark and observable global-risk controls. The design separates Senegal-specific repricing from reference-rate movements and common regional risk, then places the subsequent rating action within the same information chronology.

RF-ES-001 Economics & Sovereign · Economics & Sovereign 08 Sep 2026

Does Nigeria's Sovereign Bond Market Anticipate Rating Actions?

Does Nigeria's sovereign curve contain unusual and repeatable information about subsequent rating actions?

This study tests whether Nigeria's US-dollar sovereign curve contains decision-useful information about subsequent rating actions. It separates issuer-specific repricing from global risk, benchmarks historical negative episodes and the May 2026 positive action against matched non-event periods, and evaluates whether directional moves are sufficiently unusual to support an early-warning process.