Africa

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IMF Calls for Audit of Mozambique’s Undisclosed Debt

government on a worsening economic performance and poor financial governance after more than $1 billion of ... Mozambique’s debt problems began in 2013 and 2014 when its former government guaranteed $1.2 billion of loans ...

Daily Headline - global.abi.org - 06/26/2016 - 23:27 - 0 comments

Kenya's NIC Bank Appointed To Assess Assets Of Closed Imperial Bank

with deposits of up to 1 million shillings ($9,886.31) would receive funds in full, while those with ...

Daily Headline - global.abi.org - 06/21/2016 - 20:15 - 0 comments

Nigeria Central Bank Drops Foreign-Exchange Peg

Nigeria’s central bank abandoned a currency peg that economists and businesses had long blamed for exacerbating a slide toward recession in Africa’s largest economy, The Wall Street Journal reported. Central Bank of Nigeria Gov. Godwin Emefiele said ...

Daily Headline - global.abi.org - 06/15/2016 - 21:37 - 0 comments

Plunging Business Sentiment Points To South African Recession

South Africa's economy looked set on Tuesday for its first quarterly contraction in a year after measures of business sentiment tumbled, dragged down by shrinking consumer spending that has sunk hopes of a retail-led recovery, Reuters reported. Risi ...

Daily Headline - global.abi.org - 06/07/2016 - 21:22 - 0 comments

Nigeria's Oando Signs 94.6 Billion Naira Restructuring Loan

posted a record loss of $1.10 billion for 2014. It paid $1.5 billion to acquire ConocoPhillips' ...

Daily Headline - global.abi.org - 06/06/2016 - 21:55 - 0 comments

Mozambique Reluctant to Take Over MAM’s Debt, Official Says

the existence of $1.4 billion of undisclosed borrowing by the Interior Ministry and state-owned ...

Daily Headline - global.abi.org - 05/25/2016 - 00:41 - 0 comments

Anger Overflows in Nigeria as Economy Dives

Plummeting oil prices have set off an economic unraveling in Nigeria, one of the world’s top oil producers, and the collective anger of a fed-up nation was pouring out, the International New York Times reported. “Starvation in the land of plenty,” sa ...

Daily Headline - global.abi.org - 05/11/2016 - 23:18 - 0 comments

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

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