Africa

Results for Africa

South Africa Considering Sale of State Assets to Fund Airline

South Africa is evaluating assets it could sell to pay for this month’s 2.2 billion rand ($169.5 million) bailout of unprofitable carrier South African Airways, Finance Minister Malusi Gigaba said in letter to parliament, Bloomberg News reported. The gov ...

Daily Headline - global.abi.org - 07/23/2017 - 21:57 - 0 comments

South Africa to Deepen Support for Eskom in Economy Revival Plan

South Africa will extend more support to the beleaguered state-owned power utility and is considering selling assets as part of a 14-point plan to revive an economy that’s in its second recession in almost a decade, Bloomberg News reported. The country w ...

Daily Headline - global.abi.org - 07/13/2017 - 22:08 - 0 comments

Regulators Step in to Save Etisalat Nigeria From Collapse

Nigeria's central bank and its telecoms industry regulator have intervened to save the country's fourth largest telecoms firm from collapse after talks with local banks to renegotiate a $1 ... local banks to renegotiate a $1.2 billion loan failed, a regulatory source said on Tuesday. ...

Daily Headline - global.abi.org - 07/04/2017 - 20:35 - 0 comments

Chad Said to Seek Delayed Repayments on Glencore-Led Oil Loans

Chad is seeking to delay repayment of more than $1 billion of Glencore Plc-led oil-for-cash loans after crude prices plunged, the second time the African country has looked to restructure the debt in ... (Chad) Chad is seeking to delay repayment of more than $1 billion of Glencore Plc-led oil-for-cash ...

Daily Headline - global.abi.org - 07/04/2017 - 20:35 - 0 comments

Mozambique Hidden-Debt Companies' Head Defiant After Audit

10 months after the government revealed $1.4 billion of debt it had previously hidden. It’s missed ...

Daily Headline - global.abi.org - 07/02/2017 - 22:34 - 0 comments

Mozambique Bondholders Lay Down Terms Ahead of Restructuring

A group of key Mozambique bondholders laid down terms to the embattled government ahead of restructuring talks, calling on it to revoke guarantees on loans taken on by two state-owned companies, Bloomberg News reported. The southern African nation, which ...

Daily Headline - global.abi.org - 06/29/2017 - 22:29 - 0 comments

IMF Suspected Mozambique Debt Concealment Year Before Disclosure

Bloomberg News reported. The government’s eventual disclosure in April 2016 of more than $1 billion of ...

Daily Headline - global.abi.org - 06/26/2017 - 22:03 - 0 comments

Kenya Central Bank to Extend Receivership of Imperial Bank, Licenses New Bank

Kenya's central bank said on Friday it planned to extend the receivership of Imperial Bank by a year to help finalise a deal with a strategic investor to take a stake in the bank, Reuters reported. The regulator also said it had granted a licence to ...

Daily Headline - global.abi.org - 06/25/2017 - 21:59 - 0 comments

Mozambique Debt Probe Sees $500 Million in Unexplained Loans

Mozambican state companies have failed to account for about a quarter of the proceeds of $2 billion in loans being investigated, according to a report by Kroll LLC that creditors said was needed for debt restructuring talks to start, Bloomberg News repor ...

Daily Headline - global.abi.org - 06/25/2017 - 22:01 - 0 comments

Kenya Airways Debt Swap May Give State a Controlling Stake

Kenya’s government agreed to swap loans it provided to Kenya Airways Ltd. for equity, a conversion that may give the state a controlling stake in the national carrier, Treasury Secretary Henry Rotich said. The government will also guarantee 77 billion sh ...

Daily Headline - global.abi.org - 06/06/2017 - 23:25 - 0 comments

Syndicate content