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Avocet to Resume Talks Over Burkina Faso Gold Mine

The boards of West Africa-focused Avocet Mining and its Societe des Mines de Belahouro (SMB) subsidiary will resume talks on Friday aimed at saving the struggling gold operation from insolvency, Reuters reported. SMB, which operates the Inata gold mine i ...

Daily Headline - global.abi.org - 09/11/2017 - 17:32 - 0 comments

Gold Miner Avocet to Consider Insolvency For Burkina Faso Unit

Gold miner Avocet Mining Plc said on Monday it will consider filing for insolvency of its subsidiary Societe des Mines de Belahouro (SMB), which operates the Inata gold mine in Burkina Faso, after the unit’s standstill agreement with its creditors expire ...

Daily Headline - global.abi.org - 09/04/2017 - 20:31 - 0 comments

Fairfax Is Said to Back AfriSam to Clinch African Cement Deal

Fairfax Financial Holdings Ltd. is prepared to inject as much as 5 billion rand ($386 million) to pay off bank debt owed by AfriSam Group Pty Ltd. and help South Africa’s second-biggest cement producer clinch a tie-up with larger rival PPC Ltd., accordin ...

Daily Headline - global.abi.org - 09/04/2017 - 20:34 - 0 comments

Nigeria's Access Bank Takes Impairment on 9Mobile Loan

agreed an extension to a $1.2 billion loan made to 9mobile, pending the mobile operator finding new ... non-performing loans rose to 2.5 percent by the half-year from 2.1 percent as at December, though it posted an ...

Daily Headline - global.abi.org - 08/30/2017 - 20:48 - 0 comments

Inside Africa - one year on

Investors continue to be drawn to the continent of Africa. The region’s abundant natural resources, strong renewable energy market and volume of infrastructure projects more than justify this level of investor interest. A year ago we launched Inside Af ...

Resource Article - twallace@abiwor... - 08/30/2017 - 13:21 - 0 comments - 0 attachments

Nigeria's UBA Makes Provision on Loans to 9Mobile

Nigerian banks have agreed an extension to a $1.2 billion loan made to 9mobile, pending the mobile operator ...

Daily Headline - global.abi.org - 08/29/2017 - 18:00 - 0 comments

Guptas Sell South African Mining Group as They Seek to Clear Name

public protector, a state ombudsman, uncovered evidence that Eskom had helped fund Tegeta’s R2.1 ...

Daily Headline - global.abi.org - 08/23/2017 - 15:34 - 0 comments

Zenith Bank Makes Provision on 30 Percent of Its 9mobile Loan

story. 9Mobile had taken out a $1.2 billion loan four years ago from a consortium of banks but struggled ...

Daily Headline - global.abi.org - 08/14/2017 - 20:41 - 0 comments

Union Bank Has Sufficent Cover for Loans to Telecoms Group 9Mobile

chief executive, Emeka Emuwa, said on Monday. Lenders have agreed to extend a $1.2 billion loan which ... Shares in Union, down 4.7 percent so far this year, rose 1.15 percent on Monday to 5.30 naira. They shed ...

Daily Headline - global.abi.org - 08/07/2017 - 23:10 - 0 comments

South Africa Appoints Jarana to Turn Around Unprofitable SAA

South Africa’s National Treasury confirmed the appointment of Vodacom Group Ltd. executive Vuyani Jarana as the first permanent chief executive officer of the state-owned carrier since November 2015. Jarana will take the helm at South African Airways whe ...

Daily Headline - global.abi.org - 08/03/2017 - 19:48 - 0 comments

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