Welcome to PwC’s Africa Capital Markets Watch 2021, our seventh annual publication examining both African DCM and ECM transactions.
ECM transactions included in our report comprise capital raising activities, whether initial public offerings (IPOs) or further offers (FOs), by African companies on exchanges worldwide and those made by non-African companies on African exchanges.
DCM transactions analysed include non-local currency debt funding raised by African companies and public institutions, whether high-yield or investment grade.