In January 2020, the media reported a court petition by the State Bank of Mauritius (SBM) to liquidate the East African Cables over a $2.85 million (Ksh285 million) debt, Ventures Africa reported. However, the two parties have reached an agreement, recently, on the restructuring of the $2.85 million (Ksh285 million) debt that is due and payable on demand. “The withdrawal of the petition is a significant step towards the company’s turnaround plan that includes strengthening of the balance sheet, operational improvement and having the right funding structure for growth and profitability,” sai
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