Debt |

Useful Tips on Spotting and Avoiding Debt Settlement Swindles

JOHANNESBURG (Capital Markets in Africa) – When you fall behind on loans, you will usually find yourself on the receiving end of legal notices and threatening debt collectors. When you are feeling really desperate, it can be very easy for you to fall prey to dishonest companies claiming to solve your debt problems overnight. Some red flags that you should be looking out for when you are seeking debt settlement: Promises to Improve Your Credit…

Mozambique MPs Back State Guarantees for Previously Hidden Debt

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa)- Mozambique’s parliament ratified a law that provides state guarantees for previously hidden loans of two state-owned companies that sparked a debt crisis in one of the world’s poorest countries. Lawmakers from the ruling Front for the Liberation of Mozambique approved the state accounts for 2015, which included guarantees for loans worth $1.12 billion that ProIndicus and Mozambique Asset Management took out in the prior two years. Opposition members left the…

African capital markets Activity shows significant decline in 2016, says PwC

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – 2016 marked a challenging year for African equity markets in the wake of lower economic growth and political upheaval around the globe, largely as a result of the US elections cycle and the Brexit vote. African equity capital markets (ECM) broke a streak of three successive years of growth, recording a decline in overall ECM activity of 28% from 2015 in the number of transactions and 33% from 2015…

Foreign Purchases of Local Egypt Debt May Reach $11 Billion

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt sees foreigners buying as much as $10 billion to $11 billion in local Treasury bills and bonds in the coming period, Finance MinisterAmr El-Garhy told reporters Sunday. Government moves to reform the economy and growing investor confidence are underpinning the gradual return to levels achieved before the 2011 uprising that ousted President Hosni Mubarak, he said. Foreign holdings of Egyptian debt rose by as much as $900 million after authorities floated…

Algeria raises over $5 bln in local debt issue says Finance Minister

Posted on by The Editorial Team

ALGIERS (Capital Markets in Africa) – Algeria, faced with financial difficulties from the fall in oil prices, has raised 568 billion dinars ($5.210 billion) from a local bond issue aimed at helping offset lower energy revenues, the finance minister said. Oil and gas revenues account for 94 percent of OPEC member Algeria’s exports and 60 percent of the state budget. The government has reduced spending in 2015 and 2016 and planned further cuts for 2017….

Ghana Selling Longest-Maturity Debt Yet to Help Deepen Market

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana is selling its longest-maturity local-currency bonds yet as the West African country looks to deepen capital markets and diversify its funding profile. The government is planning to sell as much as 200 million cedis ($50 million) in a book-build on November 10, the Finance Ministry said in a statement on its website. Initial price guidance will be released on Nov. 7, it said. Ghana’s longest-duration domestic existing debt…

IMF says Mozambique president to cooperate on debt audit

Posted on by The Editorial Team

MAPUTO, Capital Markets in Africa: The president of Mozambique on Thursday pledged to work with the International Monetary Fund on the terms of an international audit of its public debt, the IMF said in a statement. President Filipe Nyusi met with IMF Managing Director Christine Lagarde in Washington, where Nyusi visted to try to reassure international institutions and investors over a debt scandal involving more than $2 billion in secret loans that came to light…

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