Africa

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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

FDIs To Ghana Risk Decline Due To Insolvency Regime

The Ghana Association of Restructuring and Insolvency Advisors (GARIA) has cautioned of alarming consequences on Foreign Direct Investments (FDIs) to Ghana, if efforts are not intensified to develop the country’s insolvency regime. GARIA argues that the ...

Daily Headline - global.abi.org - 10/06/2016 - 19:51 - 0 comments

CBK Extends Imperial Bank Receivership By Six Months

The Central Bank of Kenya (CBK) has extended the appointment of Kenya Deposit Insurance Corporation as receiver of the bank for a further six months. The regulator says the move follows a request by KDIC for an extension as the 12 months’ receivership te ...

Daily Headline - global.abi.org - 10/04/2016 - 20:32 - 0 comments

South African Airways Set For Fifth Loss As Insolvency Averted

South African Airways, the national carrier, probably incurred a loss for a fifth consecutive year in the past financial period, and would be insolvent without a government-backed guarantee, Bloomberg News reported. The state airline’s loss for the year ending March is estimated at 1.8 billion rand ...

Daily Headline - global.abi.org - 09/13/2016 - 20:48 - 0 comments

South African Airways Set For Fifth Loss As Insolvency Averted

South African Airways, the national carrier, probably incurred a loss for a fifth consecutive year in the past financial period, and would be insolvent without a government-backed guarantee, Bloomberg News reported. The state airline’s loss for the year ending March is estimated at 1.8 billion rand ...

Daily Headline - global.abi.org - 09/13/2016 - 20:45 - 0 comments

Ghana Bond Sale To Test Appetite For Emerging Market Debt

$1bn bailout with the International Monetary Fund last year. Read more. (Subscription required.) ...

Daily Headline - global.abi.org - 09/08/2016 - 21:21 - 0 comments

How Aero Contractors, First Nation Airlines Flew Into Insolvency

The bell tolls for the Nigerian economy as the government and its private sector battle a humongous recession considered the worst in 29 years threatens to wipe off millions of jobs in critical sectors, Nigeria Today reported. As at last weekend, the omn ...

Daily Headline - global.abi.org - 09/05/2016 - 19:56 - 0 comments

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