Philip Smith of A&O said: 'We expect that Africa will have the same volume of foreign-bond sales this year as last year, if not slightly higher. African issuers may continue to benefit from low interest rates.' Mr Smith advised Senegal on a dollar bond sale in July. Ethiopia raised US$1b in its first sale in December. Along with Kenya, Ghana, Senegal, South Africa and Ivory Coast, it contributed to a collective issue level of at least $16b in 2014. Source: Bloomberg Business