Unveiling Mozambique’s Enormous Tuna Bonds Scandal: A Shocking $11 Billion Dollar Fishing Tale's Lessons for Financial Governance in Africa
In 2013, Mozambique created three public companies – Ematum, Proindicus, and Mozambique Asset Management (MAM) – which would later become known as the ‘tuna bonds.’ Substantial funds were diverted through corrupt practices involving government officials and businessmen: a whopping ~$11 billion.
Kenya’s Crucial Crossroad for its Unbounding Debt Burden: An Interrogation of Kenya’s Concerning Debt Situation
When asked to estimate how much of Kenya’s debt can be attributed to corruption, Kenya’s former auditor general, Edward Ouko, said: ‘You are asking me a ballpark calculation? I think it is about 50%.’
Leveraging Debt Restructuring Tools for Sustainable Economic Recovery in Africa
The economic landscape of Africa is characterised by complex challenges, including high levels of indebtedness and limited access to financing. Effective debt restructuring mechanisms are essential for promoting sustainable development and mitigating financial risks.
Infrastructure Investing: A Primer for African Markets
Africa as a continent requires substantial investment in infrastructure projects to create real and sustained value as these ensure essential processes like industrialisation and urbanisation can be leveraged. However, one of the key questions underpinning this infrastructure challenge is how to finance these projects.
Continuation Funds: East Africa’s Private Equity Exit Solution
For as long as private capital arrangements have existed across the East African region, one major peril has been lurking in the shadows, giving Private Equity (PE) fund managers nightmares: the exit problem.
2024 Perspectives: Private Capital
Over the preceding year, the African Private Capital industry has closely mirrored global macroeconomic trends, grappling with multiple challenges that have collectively shaped its performance. A comprehensive analysis reveals a confluence of factors, including depressed GDP rates, elevated inflation, high interest rates, and the depreciation of local currencies against foreign exchange.
