Africa

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Kenya Airways Agrees Debt-for-Equity Restructuring Terms

48.9 per cent of Kenya Airways and the banks 38.1 per cent after the debt-for-equity swap, agreed in ... 19.1 per cent of the airline, which is mired in negative equity and some $2bn in debt. Its stake in ...

Daily Headline - global.abi.org - 11/13/2017 - 23:19 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 09:02 - 0 comments - 0 attachments

Nigeria Seeks to Narrow Budget Gap With Rise in Non-Oil Revenue

biggest oil producer is rebounding after the economy contracted by 1.6 percent in 2016, the first such ...

Daily Headline - global.abi.org - 11/07/2017 - 22:42 - 0 comments

South African Airways Meeting Banks to Discuss Debt Rollover

Jarana, who took the helm at the loss-making airline on Nov. 1, said during an interview at Bloomberg’s ...

Daily Headline - global.abi.org - 11/06/2017 - 22:18 - 0 comments

Kenya's Nakumatt, Once East Africa's Top Retailer, Seeks Protection from Creditors

Kenya’s Nakumatt is seeking court protection to rebuild its fortunes after creditors demanded millions of dollars owed by a company that grew from a small Rift Valley bed shop to become East Africa’s biggest supermarket chain, Reuters reported. One sourc ...

Daily Headline - global.abi.org - 10/31/2017 - 17:03 - 0 comments

Debt Rising Sends South Africa's Rand Tumbling, Stocks to Record

The rand and South African bonds extended declines as foreign investors dumped the country’s notes in the wake of government forecasts for higher public debt and wider budget deficits in the next three years, Bloomberg News reported. Stocks rose to a rec ...

Daily Headline - global.abi.org - 10/26/2017 - 22:59 - 0 comments

Nigeria's Senate to Probe Etisalat Nigeria Loan Default

Nigeria’s Senate voted in favour on Tuesday of launching an investigation into the default on a $1.2 billion loan earlier this year by Etisalat Nigeria and into how the funds were used. Etisalat ... Nigeria’s Senate voted in favour on Tuesday of launching an investigation into the default on a $1.2 billion ...

Daily Headline - global.abi.org - 10/24/2017 - 18:47 - 0 comments

Nigerian Lenders Pick Barclays to Find New Investors for 9Mobile

out a $1.2 billion (£912.4 million) syndicated loan from a group of 13 local banks but struggled to ...

Daily Headline - global.abi.org - 10/20/2017 - 00:11 - 0 comments

International arbitration report

Welcome to issue 9 of Norton Rose Fulbright’s International arbitration report. In this issue, we feature the exciting topic of innovation and disruption in international arbitration. We review the procedural and technological advances that are, or soo ...

Resource Article - twallace@abiwor... - 10/10/2017 - 10:29 - 0 comments - 0 attachments

UK's SFO to Charge Two Afren Executives with Fraud

Britain’s Serious Fraud Office will charge two former executives of collapsed oil company Afren on Wednesday with alleged fraud over payments they received via secret companies relating to business deals in Nigeria, Reuters reported. The SFO said in a st ...

Daily Headline - global.abi.org - 09/26/2017 - 19:00 - 0 comments

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