iOCO co-CEO Rhys Summerton. (Photograph supplied) Listed technology company iOCO is reducing its debt over time, having substantially trimmed its bank loans before pursuing acquisitions, with three potential deals already identified. For the first time in three years, iOCO reported strong operating cash flows with focused resource and capital allocation, while also reducing short- and…
Holding the line on the existing rules-based international trading system remains an essential challenge if the world is the keep a damaging tariff war at bay, a top UN trade official said on Monday. Addressing the UN Trade and Development (UNCTAD)’s 195 Member States in Geneva, Rebeca Grynspan said that 72 per cent of global…
Deputy President Paul Mashatile has pledged that South Africa’s Presidency of the Group of 20 (G20) will drive a strong Global South agenda focused on debt relief, inclusive growth, and sustainable development. Speaking at the recently held Türkiye-Africa Business and Economic Forum (TABEF) in Istanbul, Mashatile said South Africa will use its leadership of the…
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application,…
A man who jumped off a Royal Caribbean cruise ship near the Port of San Juan over the weekend — allegedly to avoid paying off more than $16,000 in gambling debt to the cruise line — has been charged with a federal crime, authorities said. Jey Gonzalez-Diaz embarked on the Rhapsody of the Seas…
Abuja — Speaker of the House of Representatives, Hon. Tajudeen Abbas, yesterday, clarified his earlier comments on Nigeria’s N149.39 trillion debt, stressing President Bola Tinubu was committed to ensuring that borrowing remains responsible and tied to productive investments. Also, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed optimism about…
Blue Label Telecoms currently owns 49.5% of Cell C and is seeking final regulatory approval to buy an additional 4.04% stake. (Photograph by Lesley Moyo) Blue Label Telecoms has started making plans to exit Cell C through a separate JSE listing, in a complex restructuring that could result in both companies being debt-free. This morning,…
African sovereign debtors in distress face terrible choices. They are often forced to choose between fully paying their creditors and financing the needs of their populations – health, education, renewable energy, water. Discussions with their creditors focus on financial, economic and contractual issues. The environmental and social impacts of their situation are largely excluded from…
Many African countries are already struggling with heavy debt burdens. Climate change is making this worse. Africa contributes the least to global emissions but suffers the most from extreme weather, rising temperatures and drought. These disasters affect not just people’s livelihoods but also national revenues, making debt repayment harder. Yet traditional debt contracts don’t account…
Members of the G20 have pledged to address the mounting debt pressures in low and middle-income economies amid the global financial turbulence. This is according to Deputy Finance Minister Dr David Masondo who addressed a media briefing on Friday following the third G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting held in Kwa-Zulu Natal…
