Africa

Results for Africa

Bad Loans, Rate Cap Cuts Barclays Bank of Kenya's 2016 Profit

Barclays Bank of Kenya will focus on growing its non-interest income after a jump in bad debts and a government cap on lending rates cut its 2016 pretax profit by 10 percent, it said on Wednesday. The cap on lending rates, introduced last September, was ...

Daily Headline - global.abi.org - 02/22/2017 - 21:48 - 0 comments

Nigerian Government Takes Over Biggest Airline, Arik Air

Nigeria's government is taking over the country's biggest airline, Arik Air, to "instill sanity" and prevent "a major catastrophe" in the aviation industry of Africa's most populous nation, the receivership corporation ...

Daily Headline - global.abi.org - 02/09/2017 - 22:39 - 0 comments

Norton Rose Fulbright in Africa

On January 11th 2017, the Parliament of the Democratic Republic of Congo adopted a new law substantially limiting subcontracting activities to companies (i) incorporated in DRC, (ii) with a Congolese share capital and (iii) “promoted” by Congolese. Its e ...

Resource Article - twallace@abiwor... - 02/08/2017 - 13:05 - 0 comments - 0 attachments

African Issuers Scrutinized After Mozambique’s Bond Default

Ltd. in London, said in an e-mailed response to questions on Feb. 1. “While the risk of contagion in a ...

Daily Headline - global.abi.org - 02/05/2017 - 21:40 - 0 comments

Mozambique Default On Eurobond Was 'Unnecessary'

Mozambique's default on a coupon payment for its dollar-denominated bond last week was "unnecessary" and a step backwards for the country's relationship with the holders of the debt, a group of creditors said in a statement on Monday, ...

Daily Headline - global.abi.org - 01/23/2017 - 21:39 - 0 comments

Mozambique To Miss $60 Million Payment On Irish-Listed Bond

Mozambique, the financially-embattled African nation, said on Monday it will miss a $60 million (€56.6 million) payment on an Irish Stock Exchange-listed bond this week, the Irish Times reported. With the government grappling with a hit to commoditie ...

Daily Headline - global.abi.org - 01/16/2017 - 22:58 - 0 comments

Mozambique Bondholders Call Debt-Restructuring Deadline A "Pipe Dream"

Debt-ridden Mozambique has no chance of meeting its year-end deadline for a restructuring deal, according to investors who are preparing to dig in their heels until the country comes clear on what it owes and to whom, Reuters reported. The southern Afric ...

Daily Headline - global.abi.org - 12/07/2016 - 20:02 - 0 comments

Credit Markets: Bondholders to Mozambique: Go Fish

Investors are preparing to fight Mozambique's plan to restructure their $726 million of bonds a second time, threatening a stalemate that could delay the country's access to much-needed aid, Dow Jones Business News reported. Bondholders are for ...

Daily Headline - global.abi.org - 11/08/2016 - 21:19 - 0 comments

South Africa’s Gordhan Slashes Growth Forecast Amid Political Turmoil

Pravin Gordhan, South Africa’s finance minister, has slashed the country’s growth forecast in half and warned that political turmoil threatens to derail an economic turnround as he battles to stave off a downgrade to junk status, the Financial Times ...

Daily Headline - global.abi.org - 10/26/2016 - 21:13 - 0 comments

Kenya Airways To Focus On Restructuring Its Financing

Kenya Airways needs to extend debt repayments and make other changes to restructure its balance sheet, which would take priority over finding a strategic partner, the new chairman of the loss-making airline told Reuters. Shares in the carrier, 27 percent ...

Daily Headline - global.abi.org - 10/26/2016 - 21:14 - 0 comments

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