Analysts fear move will accumulate more debt for African countries Kampala, Uganda | RONALD MUSOKE | Africa could further sink into more debt if China goes ahead with plans to sell the continent’s debt to investors, starting next year, observers fear. Hong Kong Mortgage Corporation (HKMC), a leading Chinese banking conglomerate, …
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Freetown, Sierra Leone | AFP | It was a time for smiles and handshakes as the delegations from Sierra Leone and China Exim Bank sealed a loan to provide the impoverished West African state with a new airport. Just months later, the much-trumpeted Mamamah International Airport scheme, estimated to cost …
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Lusaka, Zambia | AFP | International lenders and markets are growing increasingly concerned about “hidden debt” in Zambia, a situation similar to the one that plunged neighbouring Mozambique into a deep financial crisis. For several weeks financiers have demanded answers about the level of the country’s true external borrowing — …
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Creditor plan to auction buses to recover Shs 151 mn debt Kampala, Uganda | ISAAC KHISA | On the road leading to the Western gate of the Mandela National Stadium, located about 8 kilometres away from Kampala City Center on the Kampala-Jinja highway, one would easily observe that something wrong. Nearly …
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Uganda has favorable debt sustainability rating but current pressures could worsen its servicing position COMMENT | EZRA MUNYABONERA | During the past 10 years, Uganda has registered a consistent rise in the level of indebtedness. Public debt as a share of GDP has risen from 20 percent in 2006 to …
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Brazzaville, Congo | AFP | A team from the International Monetary Fund on Thursday wound up a mission to the Republic of Congo by expressing concern at debt and corruption before considering any bailout. “Congo’s economy continues to suffer from the effects of low oil prices, unsustainable debt, and significant governance …
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Washington, United States | AFP | Thousands of students who ran up unpayable debts at for-profit schools are anxiously waiting to see if US President Donald Trump’s administration does away with anti-fraud protections put in place by his predecessor Barack Obama. Some 95,000 cases of former students seeking forgiveness of …
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VIDEO: Uganda telecom woes continue as Sh 400bn fictitious debt claims Kampala, Uganda | NTV UGANDA | The debt riddled Uganda Telecom, now has to deal with a combined obligation of half a Trillion shillings shillings owed to the creditors as well pending dues from government agencies. UTL Administrator Bemanya Twebaze, …
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Washington, United States | AFP | The US Senate passed a $15.25 billion relief package Thursday for victims of Hurricane Harvey, in an effort to fully fund federal emergency operations as another potentially catastrophic storm bears down on Florida. The package passed 80 to 17 one day after President Donald Trump …
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Palma, Mozambique | AFP | The small, palm-fringed fishing town of Palma was meant to become a symbol of Mozambique’s glittering future, transformed by one of the world’s largest liquefied natural gas projects. But construction has fallen far behind schedule and the town’s fate is uncertain after gas prices fell …
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The Independent Uganda: You get the Truth we Pay the Price