Kampala — EAST Africa's bonds can finance the region's infrastructure development, lenders have suggested. Bonds are long-term debt sold to investors by companies. When you buy a bond from a company or government, you are lending your money to them for a set period of time. The bond matures at the end of the period and has an interest rate.
Evans Esano, the programme manager of the International Finance Corporation (IFC), the private lending arm of the World Bank, said: "Deeper bond markets cut reliance on bank loans and broaden investment opportunities. Capital markets can be used to raise long-term finance for infrastructure."
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