Africa

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Hidden Loans Leave Once-Promising Mozambique With Heavy Costs

triggered by revelations that state entities borrowed $1.4bn — equivalent to 10 per cent of gross domestic ...

Daily Headline - global.abi.org - 05/01/2016 - 21:01 - 0 comments

Group Urges Government To Speed Up Insolvency Bill

The Ghana Association of Restructuring and Insolvency Advisors (GARIA) has called for the speedy passage of the Corporate Insolvency Bill which is currently before Cabinet into law, to prevent companies from premature liquidation, Ghana Business News rep ...

Daily Headline - global.abi.org - 05/01/2016 - 21:03 - 0 comments

World Bank Is Suspending Direct Financial Aid to Mozambique

Monetary Fund in cutting off budgetary assistance after learning of more than $1 billion in previously ... million this year for direct budgetary support, the person said. The World Bank had more than $1.6 billion ... Fund in cutting off budgetary assistance after learning of more than $1 billion in previously ...

Daily Headline - global.abi.org - 04/27/2016 - 22:22 - 0 comments

Nigeria’s Import Curbs Drain Life From Bustling Lagos Ports

To stem an ongoing fall in foreign reserves caused by the oil price crash, Nigeria’s central bank introduced restrictions last summer that have effectively blocked imports of hundreds of items that typically enter Nigeria through its ports, the Financi ...

Daily Headline - global.abi.org - 04/27/2016 - 22:24 - 0 comments

IMF Halts Mozambique Aid After Finding Undisclosed Debts Of $1 Billion

the southern African nation following the discovery of more than $1bn in previously undisclosed ... an African country in recent times. They deliberately kept from us at least $1bn, possibly higher, of ... discovery of more than $1bn in previously undisclosed government debt, the Financial Times reported. ...

Daily Headline - global.abi.org - 04/18/2016 - 20:51 - 0 comments

Brown Rudnick Alert: Le nouvel acte OHADA: L'émergence de la SAS sur le Continent Africain - ATTORNEY ADVERTISING

Le changement de régime de l'OHADA (l’Organisation sur l'harmonisation en Afrique du Droit des Affaires) relatif au droit des sociétés commerciales et du groupement d’intérêt économique a attiré beaucoup de commentaires des praticiens. Read m ...

Resource Article - twallace@abiwor... - 04/08/2016 - 14:34 - 0 comments - 0 attachments

Brown Rudnick Alert: New OHADA Act: The Emergence of a New Corporate Form on the African Continent - ATTORNEY ADVERTISING

OHADA (the supranational organisation for harmonising laws across French speaking Africa) introduced wide–ranging changes to company law which attracted much commentary from practitioners. Read more. (Subscription required.) (Africa) ba ...

Resource Article - twallace@abiwor... - 04/08/2016 - 14:26 - 0 comments - 0 attachments

Brown Rudnick Alert: A Bold Reform of Unified African Insolvency Law: OHADA's New Legal Framework to Boost Turnaround and Creditor Recovery - ATTORNEY ADVERTISING

Since 24 December 2015, the 17 African Member States of the organisation for the harmonisation of business law in Africa (OHADA) have benefited from modernised, streamlined collective proceedings designed to preserve viable companies, enhance predictabil ...

Resource Article - twallace@abiwor... - 04/08/2016 - 09:52 - 0 comments - 0 attachments

Angola to Seek IMF Aid to Cope with Looming Financial Crisis

Angola will turn to the International Monetary Fund for a bailout to help cope with the oil-price rout that has hit its economy hard, joining a growing list of commodity-dependent African economies seeking assistance from the institution to weather the a ...

Daily Headline - global.abi.org - 04/06/2016 - 21:03 - 0 comments

Uchumi Faces Insolvency as Pressure From Creditors and Suppliers Mounts

($36 million), double the Ksh1.8 billion ($18 million) quoted last year, according to the management, ... approved loans to the tune of Ksh1 billion ($10 million), which would only offset 56 per cent of the total ... skyrocketed to Ksh3.6 billion ($36 million), double the Ksh1.8 billion ($18 million) quoted last year, ...

Daily Headline - global.abi.org - 04/04/2016 - 22:49 - 0 comments

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