Kilwa Atlas · Report No. 6 · Private Credit

Kilwa Atlas No. 6: Five Gates — Private Credit in Africa

Where a private loan in Africa gets repaid: five gates scored in 20 markets, all 54 screened into four lanes.

Written for

- Credit and infrastructure funds: which gate is shut in each of twenty markets, and what that makes of the instrument, the currency and the counterparty: hard-currency exporter loans where price is the gate, offshore security where the courts are.

- Africa-focused GPs and global LPs: whether a manager's workout record matches the enforce gate that carries a quarter of the index, against five court cases and what they actually returned to lenders.

- DFIs and multilaterals: how the first-loss share of a pooled vehicle compares with the courts of its underlying markets rather than the sovereign rating: a pool of Nigerian, Kenyan and Ghanaian loans has three court clocks.

- Banks, insurers and corporate strategy teams: where bureau and registry coverage is below one adult in ten, and what that makes of the payment histories banks and suppliers already hold.

What you get

- The Private Credit Conditions Index for twenty markets: five gate scores each, every input flagged verified or estimate, and the shut gate named

- The 54-market screen, Open lane, Slow lane, Gated or Shut, on court speed and the Atlas No. 3 proceeds gate

- Five enforcement precedents with what lenders got and how long it took, from Samir to 9mobile, and a workout clock from day 0 to beyond 180

- Public pricing anchors, from sovereign Eurobonds to US direct lending, with the two gaps no primary source can fill stated rather than filled

- Three scenarios to 2028, four named assumptions and ten dated indicators that Kilwa grades in public in the second edition

- 39 pages as a PDF, delivered the moment payment clears

Licence: single user, one named reader. Need more readers? Upgrade to the Team or Enterprise licence within 30 days and pay only the difference.

The first pages are free at kilwa.io/insights/kilwa-atlas-06, and the report is delivered in full at once, so sales are final. Research and analysis for general circulation, not investment, legal or tax advice.