News : Debt

Africa: The Continent Must Address Its Debt Burden Once the Pandemic Is Under Control

[Africa Renewal] -- says World Bank Vice President (AllAfrica)

Nigeria: N5.39 Trillion Debt Blocks States From Capital Market Borrowing - Report

[This Day] With a total debt burden of N5.39 trillion as at the end of December 2019, the 36 states of the federation are no longer eligible to borrow from the capital market, a new report, has said. (AllAfrica)

Africa: Uhuru Calls for Financial Aid, Debt Delays for Africa's Quick Recovery From Covid-19

[Nation] President Uhuru Kenyatta on Wednesday called for urgent decisions on debt relief and financial aid to Africa's poor to help the continent's quick recovery from the Covid-19 shocks. (AllAfrica)

Kenya: Kenyatta to Leave Billions of Dollars in Debt By 2022

[Nation] The national debt is projected to increase by Sh750 billion in the next 10 months. That is Sh2.6 billion a day. (AllAfrica)

Kenya: Treasury Raises Debt Target By Sh29.7 Billion on Tax Shorfall

[Nation] The Treasury has raised domestic borrowing goal for the current financial year, which started in July, by Sh29.72 billion on fears of a deeper shortfall in tax receipts than earlier projected. (AllAfrica)

Kenya: Tuju Petitions JSC for Removal of Judge in Sh1.6 Billion Dari Debt Case

[Capital FM] Nairobi -- Jubilee Party Secretary General Raphael Tuju has petitioned the Judicial Service Commission (JSC) for the removal of a judge in a Sh1.6 billion debt case pitting his firm - Dari Ltd - against the East Africa Development Bank (EADB). (AllAfrica)

Nigeria: Debt - How Each Nigerian Owes U.S.$401

[Daily Trust] The Debt Management Office, DMO, has announced that the total debt stock of Nigeria rose to N31 trillion as of June 2020. (AllAfrica)

Mozambique: 'A Normal Country Cannot Live On Donatons' - Nyusi

[AIM] Maputo -- Mozambican President Filipe Nyusi warned that no normal country can live on donations, when it has enough land, water and human resources to feed all its people. (AllAfrica)

Mozambique: Guebuza Accuses Attorney-General of Attempted 'Political Assassination'

[AIM] Maputo -- Former Mozambican President Armando Guebuza, on Thursday claimed that he is the victim of an attempt at "political assassination", and pointed a finger of blame at Attorney-General Beatriz Buchili (whom he had appointed to that post). (AllAfrica)

Angola: Angola Owes China U.S.$20.1bn

[ANGOP] Luanda -- Angola's debt to China is estimated at USD 20.1 billion, and is the country's largest creditor, said Finance Minister Vera Daves Friday. (AllAfrica)

Rwanda: Rwanda's Affordable Energy Ambitions Get $150m Boost

[New Times] Rwanda's quest to avail affordable energy to the population got a boost this week following, the approval by the World Bank Group of $150m (approximately Rwf142bn) to finance energy access for households, enterprises and public institutions in Rwanda. (AllAfrica)

Zimbabwe: Marry Mubaiwa in Trouble Over U.S.$6,000 Water Debt

[New Zimbabwe] Vice President Constantino Chiwenga's estranged wife, Marry Mubaiwa has been taken to court by a local water delivery company for allegedly failing to settle a US$6 000 water debt. (AllAfrica)

Nigeria: Judge Declines Application to Hear Debt Recovery Case

[This Day] The vacation judge at the Federal High Court in Lagos, Justice Nicholas Oweibo, yesterday refused an application seeking an urgent hearing in the debt recovery case filed by Assets Management Corporation of Nigeria against Everest Nominees Limited and Dr Bolaji Ogundare. (AllAfrica)

Nigeria: Experts Warn Govt Against Debt Trap

[This Day] Some experts in bilateral businesses have called on federal government to consider other options in addressing Nigeria's infrastructural deficit, instead of the high appetite for infrastructure loans from China. (AllAfrica)

Nigeria: Buhari Justifies Borrowing to Fund Infrastructure

[Premium Times] President Buhari said the country must fix its roads to save lives from soaring road accidents. (AllAfrica)

Angola: Angola With Low Debt Default

[ANGOP] Luanda -- Angola has a low risk of failing to pay its sovereign debt, thanks to ongoing reforms, according to a recent assessment made by the three main international rating agencies, namely S&P, Fitch and Moody's. (AllAfrica)

Nigeria: Why We Resorted to Borrowing - Buhari

[Daily Trust] President Muhammadu Buhari on Tuesday explained that his government took loans in the interest of Nigeria to solve the dire shortfall in infrastructure. (AllAfrica)

Nigeria: Nigeria Spends N1.1trn to Service Foreign Debt in Q2'20

[Vanguard] by Urowayino Jeremiah (AllAfrica)

South Africa: Over-Indebted Consumers Advised to Consider Debt Counselling

[] Many consumers are feeling the impact of the COVID-19 lockdown on their jobs and income, with some falling behind on their financial obligations. The National Credit Regulator (NCR) has advised, however, that financial distress can be carefully navigated by debt counselling. (AllAfrica)

Nigeria: N190 Billion Debt - Abuja-Kaduna Train Service and Burden of China Loan

[Daily Trust] The Abuja - Kaduna train project is one of the foremost projects executed with the loans from China, and there are doubts on how this project can generate enough to finance its repayment process, four years after the route was commissioned. (AllAfrica)

Namibia: Town to Write-Off Pensioners' Debts

[New Era] Omuthiya -- The Otavi Town Council has announced plans to write-off millions of dollars in municipal debts owed to it by elderly residents. (AllAfrica)

Nigeria: Nigeria's Rising Debt: Time Will Vindicate Buhari's Govt - Finance Minister

[Premium Times] With mounting criticisms over the country's rising debt stock, the Minister of Finance, Budget and National Planning, Zainab Ahmed, told PREMIUM TIMES' Business Editor, Bassey Udo, that only time will vindicate the current administration's decision to borrow big to develop infrastructure, grow the economy and create wealth. The minister, during the exclusive interview in her office in Abuja to mark her one year in office, said that the situation could have been worse but for the government's proactive fisc (AllAfrica)

Nigeria: Nigeria's Public Debt Rises to N31 Trillion

[Premium Times] Nigeria's total public debt stock increased by about N2.38 trillion, or $6.593billion, as of June 30, the Debt Management Office (DMO) announced on Wednesday. (AllAfrica)

Nigeria: Nigeria's Debt Rises 8.3% to N31trn in 3 Months - DMO

[Vanguard] Abuja -- The Debt Management Office (DMO), Wednesday, put the nation's total public debt stock at N31.009 trillion or $85.897 billion, as at June 31, 2020, representing 8.3 percent rise from N28.628 trillion in March 2020. (AllAfrica)

Nigeria: IMF Loans, Others Push Nigeria's Debts to N31tn - DMO

[Daily Trust] Nigeria's total debt stock has risen to N31 trillion as of June 2020, from N28.6tn reported in March, the Debt Management Office, DMO has said. (AllAfrica)

Kenya: Debt Swaps Could Free Funds to Tame Climate, Biodiversity and Virus Threats

[Thomson Reuters Foundation] London -- A share of developing states' foreign debt could be forgiven in exchange for governments devoting those resources to fighting environmental problems, researchers say (AllAfrica)

Tunisia: Spain Grants €3 Million Loan to CFE

[Tunis Afrique Presse] Tunis/Tunisia -- Spain granted the Financial Centre for Entrepreneurs (CFE) which is a Tunisian microfinance institution, a ?3 million loan (the equivalent of 9.7 million dinars). (AllAfrica)

Nigeria: $10m Debt - Judge Declines to Hear Shoprite's 'Urgent Application'

[Premium Times] A Lagos Division of the Federal High Court on Monday declined to hear an application to lift an injunction barring South African retail company, Shoprite Checkers (PTY) Limited, from transferring its assets. (AllAfrica)

Nigeria: AMCON Seizes Hydro Hotels Over N600 Million Debt

[Daily Trust] The Asset Management Corporation of Nigeria (AMCON) has taken over the assets of Hydro Hotels Limited in Niger State over N600 million debt. (AllAfrica)

Namibia: Treasury Carrot Fails to Spur Debt Uptake

[Namibian] ONE would have expected that after the introduction of the N$8,1 billion Covid-19 relief package by the government, which included guarantees for at least N$2 billion, the private sector would rush to take up debt. (AllAfrica)

Nigeria: As Senate Approves Buhari's U.S.$22.7 Billion Request, Nigeria Could Service Chinese Loans Till 2040

[Premium Times] The Senate on Thursday gave nod to the $22.7 billion loan request by President Muhammadu Buhari, bringing Nigeria's external debt stock to nearly US$50 billion, amid lawmakers and public's concerns the approval was without scrutiny. (AllAfrica)