Africa

Results for Africa

Companies Avoid Paying $200 Billion in Tax

Businesses avoid paying $200 billion annually in taxes by channeling their overseas’ investments through offshore financial hubs, a United Nations agency said Wednesday, The Wall Street Journal reported. The estimate by the United Nations Conference ...

Daily Headline - global.abi.org - 06/24/2015 - 23:02 - 0 comments

Nigerian Lawmakers Propose Docking Own Pay

Some of the best-paid people in this country—its lawmakers—are proposing an unusual measure: docking their own salaries, The Wall Street Journal reported. The volunteered pay cut is part of a new austerity descending on Africa’s top economy. Nigeria’ ...

Daily Headline - global.abi.org - 06/24/2015 - 23:03 - 0 comments

Uchumi Fires CEO Who Rescued Kenyan Retailer From Bankruptcy

goods to the retail chain’s stores because they are owed more than 1 billion shillings ($10.3 million), ...

Daily Headline - global.abi.org - 06/15/2015 - 22:11 - 0 comments

World’s Newest Country Struggles to Survive

South Sudan is running out of money, which along with a civil war and mass food shortages is putting the world’s youngest country at risk of becoming its youngest failed state, The Wall Street Journal reported. In the past two years, the U.S. government has spent more than $1 billion to try to ...

Daily Headline - global.abi.org - 06/10/2015 - 21:30 - 0 comments

Tax Proposals For Multinationals Will Have ‘Massive Impact’

Proposed new obligations on multinationals to produce country-by-country reports on their financial affairs will have a “massive impact” on them, a leading member of the Organisation for Economic Development and Cooperation has said, the Irish Times ...

Daily Headline - global.abi.org - 06/08/2015 - 22:02 - 0 comments

African Bank’s Junior Creditors To Get Some Money Back Under Restructuring Plan

Failed unsecured lender African Bank (Abil) has offered R1.65bn to junior creditors in a ... restructuring deal, the junior creditors will have R1.65bn of their claim rolled into a new 10-year subordinated ... more. (South Africa) Failed unsecured lender African Bank (Abil) has offered R1.65bn to ...

Daily Headline - global.abi.org - 05/28/2015 - 18:57 - 0 comments

Insolvency and Restructuring Guide for Africa, 2015

Welcome to the inaugural edition of the Insolvency and Business Restructuring Guide for Africa 2015. As head of the Insolvency, Business Rescue and Restructuring practice group at Werksmans, it is a pleasure to bring you this publication which is being l ...

Resource Article - abi_admin - 06/09/2015 - 09:10 - 0 comments - 0 attachments

South Africa's Ellerine Creditors Receive 14 Percent Payout

Administrators of the furniture arm of failed lender African Bank Investments said on Tuesday creditors were paid 14 percent of what they were owed by Ellerine Furnishers, which had debts of around 1 ... creditors were paid 14 percent of what they were owed by Ellerine Furnishers, which had debts of around 1 ...

Daily Headline - global.abi.org - 05/19/2015 - 20:10 - 0 comments

Signs Look Dire For Zimbabwe Economy

On May 1 — Labour Day — one of President Robert Mugabe’s top officials took to Twitter to offer a bleak assessment for Zimbabwe’s economy, the Financial Times reported. In unusually frank comments, ... (Zimbabwe) On May 1 — Labour Day — one of President Robert Mugabe’s top officials took to Twitter to ...

Daily Headline - global.abi.org - 05/19/2015 - 20:15 - 0 comments

Air Zimbabwe Considers Long-Haul Routes to Fight off Insolvency

Air Zimbabwe Ltd., the state-owned carrier that declared itself insolvent this month, is considering long-haul routes and seeking partners in an effort to repair its finances, Bloomberg News reported. The airline will decide by the year end whether to st ...

Daily Headline - global.abi.org - 03/29/2015 - 21:56 - 0 comments

Syndicate content