Tag: Debt

15 July 2020, 6:22 PM

A failure by South Africa to lower public debt risks triggering credit downgrades deeper into subinvestment, Fitch said on Wednesday.

South Africa faces battle to rein in spending: Fitch

7 July 2020, 8:43 PM

South Africa’s plans to rein in government spending will be hard to implement due to low economic growth, ratings agency ...

Zambia's President Edgar Chagwa Lungu addresses the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 25, 2019.

Zambia sees 2020 expenditure up $1.1 bln as kwacha falls

25 June 2020, 4:33 PM

Zambia’s expenditure is expected to rise by approximately 20 billion kwacha ($1.11 billion) this year as the local currency weakens, ...

U.S. Secretary of State Mike Pompeo shakes hands with Chinese President Xi Jinping before their meeting at the Great Hall of the People in Beijing, China June 14, 2018.

Pompeo says China’s Africa lending creates unsustainable debt burdens

25 June 2020, 3:44 PM

U.S. Secretary of State Mike Pompeo on Wednesday blasted China’s policy on lending to African countries, reiterating Washington’s charges that ...

Eskom says it has lost R3.8 million illegally.

Mpumalanga Treasury worried municipalities debt to Eskom not being serviced

23 May 2020, 12:32 PM

The Mpumalanga Provincial Treasury says it's disappointing that municipalities entered into agreements to pay Eskom their electricity debt and later ...

Construction work is seen opposite a statue of Samora Machel, the first President of Mozambique, and the Cathedral of the Immaculate Conception, a Roman Catholic cathedral in downtown Maputo, Mozambique, September 1, 2019.

Portugal’s BCP pursues Mozambique in latest case over $2 bln debt scandal

16 April 2020, 5:47 PM

Banco Comercial Portugues (BCP) has taken legal action against Mozambique, becoming the latest bank to pursue the heavily indebted East ...

In a video message to a virtual meeting of the WHO’s decision-making body, the World Health Assembly, President Xi Jinping also pledged $2 billion over two years to help with the COVID-19 response.

China willing to study African debt relief jointly with international community

14 April 2020, 4:54 PM

China said on Monday it is aware of calls for a debt relief program for African countries, and is willing ...

Eskom says within the next 60 days it will present its case for a tariff increase to the National Energy Regulator of South Africa

Lack of maintenance by Eskom is reason for load shedding: Analyst

11 March 2020, 7:56 AM

Energy analyst Adil Nchabeleng says Eskom's ageing infrastructure does not contribute to load shedding but rather the lack of maintenance ...

Economist Professor Raymond Parsons says SA should grow the economy without falling into debt.

SA needs to urgently break out of low economic growth trap: Parsons

2 January 2020, 8:59 PM

Economist at the North West University's school of business Professor Raymond Parsons says during the delivery of the State of ...

Eskom is concerned that debt owed to it will increase.

Debt owed to Eskom may balloon to R36 billion

3 December 2019, 8:55 PM

Eskom has warned that debt owed is likely to balloon to R36 billion by the end of next year, if ...

Government has made it a priority to ensure a massive reduction in expenditure, which will seek to assist in improving the financial position the state.

‘South Africans spend 63% of their income to service debt’

18 October 2019, 3:03 PM

South Africa is heading towards a debt bubble with many consumers spending most of their disposable income to service debt.

Gordhan says the theft of Eskom cables, conductors and other equipment amounts to R105-million for the same financial year.

Municipalities owe Eskom R23,5 billion

by Wendy Mothata

11 October 2019, 1:17 PM

Eskom still has to recover R23, 5 billion from municipalities which owe the power utility. This has been revealed by ...

KwaZulu Natal Eskom Customer Services Senior Manager said, “Eskom respects the court ruling, however this does not bound for Eskoms financial sustainability.

Eskom concerned over Newcastle debt ruling

by Bongisipho Magcaba

9 October 2019, 9:05 AM

21 September 2019, 1:45 PM

Power utility Eskom said it is concerned over the financial implications of Tuesday's KwaZulu-Natal High Court decision which ordered Eskom ...

South Africa has 25.7 million credit active consumers.

40% of credit active South Africans affected with bad debt: Report

by Paballo Lephaka

A report by the National Credit Regulator tabled in Parliament shows that 40% of credit active South Africans have bad ...

Thomas Cook has struggled with competition in popular destinations, high debt levels and an unusually hot summer in 2018 which reduced last-minute bookings.

Britain’s Thomas Cook scrambles for $250 million to avert collapse

20 September 2019, 12:56 PM

Britain’s Thomas Cook needs to find an extra 200 million pounds ($251 million) to satisfy its lenders or one of ...

Passengers seen on a South African flight

ACSA lifts SA Express suspension

30 August 2019, 2:46 PM

The Airports Company of South Africa says it expects the balance of cash owed to it by cash-strapped SA Express ...

Van Biljon says the cash-strapped public broadcaster is stuck with large debts to the City of Johannesburg municipality, signal distributor and others.

CFO elaborates on SABC financial status

17 June 2019, 7:30 AM

South African Broadcasting Corporation Chief Financial Officer, Yolande van Biljon, has sought to explain the reasons behind the executives' plea ...

SAA says it will be profitable in the next three years,

SAA has outstanding debt of over R20 billion: Kingston

7 June 2019, 9:41 PM

South African Airways (SAA) says it currently has outstanding debt of over R20 billion. Board member Martin Kingston says it ...

The Director of the African Economic Research Consortium Njuguna Ndung’u says research papers presented at 50th bi-annual plenary will help in policy making.

Research papers to help shape African economies

2 June 2019, 9:37 PM