49% of business owners reported an increase in sales in March

From February to March 2021, sales rose by 26 pp. According to the latest business survey conducted by the National Federation of Colombia Businesses (Fenalco), 49% of business owners reported an increase in the net quantity of sales. However, Fenalco also raised concerns for April results as new lockdown measures have recently taken place in many regions of Colombia.

Rappi is now worth $4 bn and plans go on NYSE

The once first unicorn of Latin America has a market value of $4 bn today. This app operates in nine countries and has, in Colombia alone, more than 10 million downloads and around one million active users. The company's CEO for Colombia, Matías Lak, revealed plans to issue shares on the New York Stock Exchange. Further details on the operation are yet to be announced.

Firtch reafirms ‘BBB’ for Isagén

Fitch reaffirmed 'BBB' rating for the third-largest energy producer in Colombia, Isagén. Yet with a negative outlook. According to Fitch, the LT FC IDR and LT LC IDR ratings are negative and stable in the long term. With that said, the acquisition of 139.8 MW of solar projects and a current 20MW wind project under construction can improve its competitive position, Fitch stated.

$400 mn in bonds from GNB Sudameris

GNB Sudameris is set to issue $400 million in bonds in Colombia. It will be the first local issuance in more than 16 months. According to the bak, the funds will provide capital to buy more notes in 2022. The bank also revealed that Fitch Ratings scored a "BB- (EXP)" to the upcoming acquisition of Tier 2 notes.