Bond Market Development and Infrastructure Investment Gap: Lessons for the African Continent

Tuhaise Betty Tumuhirwe; Eric Nzibonera; Jude Thadeo Mugarura; Yusuf Kiwala

doi:10.36948/ijfmr.2024.v06i02.17509

Bond Market Development and Infrastructure Investment Gap: Lessons for the African Continent

Author(s)	Tuhaise Betty Tumuhirwe, Eric Nzibonera, Jude Thadeo Mugarura, Yusuf Kiwala
Country	Uganda
Abstract	This paper, seeks to draw lessons for the African continent based on the experiences of three pioneer countries in bonds issuance for infrastructure financing. Theoretical foundation: The preferred habitat theory served as the study's lenses.it focuses on the bond market participants' choices for bonds as a financing option. Methodology: The authors conducted a systematic review of the literature using the SALSA framework, which is a search, appraisal, synthesis, and analysis framework. Findings; There is a pressing demand for bond market development in Africa. Developed and developing economies widely utilize bonds to bridge worldwide infrastructure investment gaps. Whereas some African nations have embraced them, there is still a lot to be done. Amongst others, is the need to familiarize with the various bonds available as a financing tool for infrastructure, the contribution of bond markets globally, the motivation for various bond market participants not disregarding the bond market processes and enablers. Practicability: This study solely employed a secondary literature analysis; other researchers can do the same investigation using different methods like the qualitative techniques that entail interviews or quantitative approaches. It also highlighted the bond processes and enablers based on the experiences of three countries that pioneered bond issuance. Further research can look at more or different countries for drawing lessons. Originality; This is the first article to present an overview of bonds, bond market participants, processes and enablers. As well as, the first paper to draw lessons for African countries based on the first-time experiences of Senegal, South Africa and United states of America.
Keywords	Infrastructure, infrastructure investment gaps, infrastructure financing options
Field	Business Administration
Published In	Volume 6, Issue 2, March-April 2024
Published On	2024-04-29
Cite This	Bond Market Development and Infrastructure Investment Gap: Lessons for the African Continent - Tuhaise Betty Tumuhirwe, Eric Nzibonera, Jude Thadeo Mugarura, Yusuf Kiwala - IJFMR Volume 6, Issue 2, March-April 2024. DOI 10.36948/ijfmr.2024.v06i02.17509
DOI	https://doi.org/10.36948/ijfmr.2024.v06i02.17509
Short DOI	https://doi.org/gtsnw7

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Bond Market Development and Infrastructure Investment Gap: Lessons for the African Continent

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