EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the final close of EIG Senior Infrastructure Debt Fund VI (“SIDF VI”) at $1.9 billion, nearly double the size of its predecessor fund. Together with $2.1 billion committed to single investor vehicles, this exceeds the strategy’s original $3 billion target and…
Senegal reached a staff-level agreement with the International Monetary Fund for a $2.2 billion, 3-year lending programme as the government seeks to restore debt sustainability after uncovering more than $11 billion of previously misreported borrowing. The agreement still requires approval from IMF management and its Executive Board. The deal follows months of negotiations after the…
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They spoke at the sixth African Conference on Debt and Development (AfCoDD VI), organised by the African Forum and Network on Debt and Development (AFRODAD) in Nairobi, Kenya. . African countries need better systems for tracking public debt and stronger parliamentary scrutiny of government borrowing, said some development experts said on Wednesday. They spoke at…
The call comes months after African Union leaders adopted the Common African Position on Debt, which seeks to strengthen Africa’s collective hand in debt negotiations and push for changes to the global financial system. Africa must turn its natural resources, market size and technological capacity into bargaining power to secure a stronger voice in the…
Every shortcut a tech company takes is a loan. That’s the whole idea behind “technical debt”, a phrase programmer Ward Cunningham coined more than 30 years ago and the smartest bit of financial language software ever borrowed. In my last column, I argued that we sell products before we build them. This is what happens…
A Chinese development expert, Dr. Zhou Taidong, has rejected claims that China uses loans and aid to trap poor countries, saying China’s cooperation with African countries is based on mutual benefit and South-South cooperation. Dr. Zhou, who is the Deputy Director of the China International Development Center, speaking to the New Dawn in Beijing briefly…
Nutun South Africa CEO Robert Amoils. (Image supplied) Global business process outsourcing (BPO) and credit-lifecycle management company Nutun launched its new AI Lab in Johannesburg last night. The team introduced Zoey, an agentic AI debt collector that is already recovering close to R10 million a month. “Zoey is live. Zoey is working. Zoey is operating…
Within the next 12 months, Telkom must manage R4.3 billion in short-term borrowings. (Photograph: Telkom) Telkom is set to wipe 30% off its short-term interest-bearing debt on Wednesday by fully settling a R623 million maturing corporate bond, cutting that portion of its debt to R1.4 billion. The payment retires the TL31 bond, effectively an institutional…
Andrew Mwenda’s recent remarks on Uganda’s fiscal predicament should resonate far beyond Kampala. When nearly half of government revenue, 46 percent, is consumed by debt servicing, leaving only 54 percent for salaries, roads, bridges, dams, healthcare, education, and other public investments, the challenge is no longer merely fiscal. It is developmental. A nation cannot sustainably…
