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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

bailout

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Namibia

Government’s N$1.2 Billion Lifeline Channels Directly to Namcor’s Creditors and Suppliers

The government's infusion of N$1.2 billion to stabilize the National Petroleum Corporation of Namibia has taken an unconventional route, bypassing direct cash injection to settle Namcor's debts. Instead, the bailout funds were disbursed directly to Namcor's suppliers and creditors last month, as confirmed by Namcor spokesperson Utaara Hoveka. This strategic move alleviates Namcor's financial burden, providing a crucial lifeline to prevent potential liquidation. The bailout, facilitated by a sovereign guarantee, […]

todayMay 15, 2024 22

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South Africa

Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity

Eskom has requested the National Treasury to convert 16-billion-rand of bailout funds into equity in a bid to alleviate its debt-service burden. According to a report by Moneyweb, Eskom officials told investors that an application has been made to convert the subordinated loan into equity. The report indicates that the conversion into equity would lessen a debt-service burden that has prevented Eskom from carrying out adequate maintenance. This is the […]

todayDecember 15, 2023 6

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