Debt

News : Debt

INDUSTRIAL engineering company PSV Holdings experienced tough trading conditions for the six months ended August, with the strengthening of the rand and high cost of debt reducing profit after tax. (AllAfrica)

A senior Ministry of Education (MoE) official has said they have failed to recover loans from students because they have not kept proper records. (AllAfrica)

Big names, including two opposition chiefs, have been listed in the state-owned Daily News for failure to pay rates to Selebi-Phikwe Town Council. (AllAfrica)

THE Land Claims Commission cannot afford to honour at least R10bn in outstanding commitments to land owners and claimants, Business Day has established. (AllAfrica)

THE foreign affairs ministry still owes sh4.4b to various service providers for the CHOGM summit, the Permanent Secretary, James Mugume, said yesterday. (AllAfrica)

CHAIRMAN of the Fiscal Responsibility Commission, Alhaji Aliyu Jibril Yelwa has raised alarm over the spate of foreign and local debts incurred by the three tiers of government. In a paper presented at a meeting for planning and advocacy on Fiscal Responsibility organised by the United Nations Development Programme (UNDP) at the UN House in Abuja, Yelwa said such unwholesome debt profile posed a veritable management and institutional challenges to the implementation of the Fiscal Responsibility Act. (AllAfrica)

POWER consumers' failure to pay bills is to increase UMEME's bad debt write-offs. The power utility is demanding about sh60b from over 19,000 defaulters across the country. (AllAfrica)

Uganda's external debt burden could reach unsustainable levels by 2015 unless efforts are made to match borrowing to economic growth. (AllAfrica)

The Nigerian Bar Association (NBA) has lampooned the Economic and Financial Crimes Commission (EFCC) and other security agencies for allegedly turning "themselves into debt recovery agents" following the current crisis in the banking sector. (AllAfrica)

The Chairman of the Fiscal Responsibility Commission, Alhaji Aliyu Jibril Yelwa has raised alarm at the spate of the foreign and local debts being incurred by the three tiers of government in Nigeria. (AllAfrica)

ZIMBABWE is presently saddled with a US$5,7 billion debt that is impacting adversely on the economy, but we need to handle the issue more soberly and ensure that we employ debt settlement strategies that will not prove costly in the end. (AllAfrica)

Despite the recent controversy generated by the proposed $40 million ECOWAS fund loan, Kano State Governor, Malam Ibrahim Shekarau, has explained that he won't be deterred by critics , as he takes no decision without prior consultation with the legislature. (AllAfrica)

Former Head of State and All Nigeria Peoples Party (ANPP) presidential candidate in the 2003 and 2007 elections, Major-Gen.Muhammadu Buhari, has responded to claims by the Presidency that he lacked the moral high ground to criticise the administration of President Umaru Musa Yar'Adua. (AllAfrica)

The Deputy Majority Leader in Parliament and a Member of the National Media Commission (NMC), Mr. John Akologu Tia, has expressed dissatisfaction over the government's inability to pay the allowances of members of the Commission, which have accrued over the last ten months. (AllAfrica)

ZIMBABWE, weighed down by a $5,7 billion debt, should not rush into adopting the Highly Indebted Countries Initiative but should instead pursue other strategies that could yield better results. (AllAfrica)

Zimbabwe should not be hamstrung by the US$700 million debt it inherited from the Rhodesian Government in 1980 and should move to ensure the reparations are paid. (AllAfrica)

BUILDING hardware manufacturer and distributor Dawn Group plans to raise R300m through a rights offer this month to strengthen its balance sheet and reduce bank debt. (AllAfrica)

With ballooning household borrowing from "all possible sources" showing an unprecedented rise in consumerism, Botswana will need financial education and more stringent regulations to curb increasing bad debt and arrears, analysts warn. (AllAfrica)

City tycoon Karim Hirji has seven days to repay $1.5m (about sh3b) he was advanced for accommodating delegates of the Commonwealth Heads of Government Meeting (CHOGM) in 2007. (AllAfrica)

If Nigeria continues to do business as usual its Vision 20: 2020 objectives will not be met, the World Bank Country Director said yesterday. (AllAfrica)

The inequity of climate change was that it was the regions that had historically least contributed to greenhouse gas emissions that would be most affected, while the guilty parties would have the technological and financial resources to escape the worst of it. (AllAfrica)

Loans do not come cheap; it comes with the conditions that keep the borrower enslaved for long time. This is one lesson the present government in Borno State has learnt in the cause of providing infrastructural development. (AllAfrica)

OVERDUE bank loans in Namibia have ballooned by nearly 18 per cent to N$2,1 billion in six months as the economic crisis continues to cripple consumers' ability to pay their debts. (AllAfrica)

West African business conglomerate, Stallion Group, owned by the Vaswani Brothers, has strongly denied recent reports in the media pointing to a N3 billion non-performing loan purportedlyowed by one of its subsidiaries, premium Seafoods Ltd, to Equatorial Trust Bank (ETB), Nigeria. (AllAfrica)

OVERLY indebted South Africans are making progress on reducing debt, but the number of people struggling to pay their bills is still rising. (AllAfrica)

The Chief Executive officer of the defunct Ghana@50 Secretariat, Dr. Charles Wereko-Brobby has advised the office of the President to pay all outstanding debts owed to Ghana@50 contractors. (AllAfrica)

The rate at which do-gooder forces are unleashing despair on Africa can turn even the most ardent optimist into a cynic. (AllAfrica)

Many of the debtors of the sick banks who were to meet with the Economic and Financial Crimes Commission (EFCC) yesterday, shunned the meeting, even as the anti-graft agency has resorted to secret interrogation of the debtors. (AllAfrica)

SOME of the high profile debtors of Bank PHB Plc, Equatorial Trust Bank Ltd and Spring Bank Plc, yesterday, met with officials of the Economic and Financial Crimes Commission, EFCC, at an undisclosed location in Lagos. (AllAfrica)

The International Monetary Fund (IMF) will later this month review Zimbabwe's overdue debt as it emerged that the country is failing to cooperate on payments to the global lender. Zimbabwe owes the IMF SDR 89 million (about US$139 million) from the Poverty Reduction and Growth Facility -- Exogenous Shock Facility (PRGF-ESF) Trust. (AllAfrica)

TO recover fully the principal of their non-performing loans, the management of some of the nine troubled banks have started negotiations with key debtors who have applied for forbearance. (AllAfrica)