----- READ ON EUROMONEY - See the last part of the article for the Alluvial focus -----
'Africa comes under renewed pressure to promote its local bond markets'
Wesley Davis, Alluvial's co-founder, says the local bond markets are not an option for most businesses in Nigeria. For a business like Alluvial, which has its operations and revenues in naira, borrowing in dollars is a risk, even if the cost of funding is lower than it would be from naira-denominated sources.