- Will AI disrupt the payments industry in 2026? Izak van Heerden, Senior Manager: Development at Altron FinTech
- African Banks and Institutions must Lead on Urbanisation Finance – or Risk being Sidelined by Foreign Investors, says Pan-African banker
- How to Survive When Your Business Hits a Wall
- Driving business efficiency across the fintech ecosystem
- Accion Announces Close of $61.6M Second Accion Venture Lab Fund Investing in Early-Stage Inclusive Fintech
Mozambique Says Can’t Pay $178 Million Debt Interest This Month
Maputo, Mozambique, Capital Markets in Africa: Cash-strapped Mozambique won’t be able to honor a debt-interest repayment of $178 million that is due next week for a loan to a state-run company, Finance Minister Adriano Afonso Maleiane told lawmakers.
The nation holds total public debt of $11.64 billion, of which $9.85 billion is owed to foreign investors, he said Wednesday in the capital, Maputo.
Mozambique Asset Management, whose payment is due on May 23, is negotiating with lenders to restructure the debt, he said. The company is one of two whose loans the government kept hidden from investors. The second, Proindicus, made a $24 million payment on March 21.
Source: Bloomberg Business News