Ogun SME’s development – state disburses N600m from BoI revolving loans
25 June 2017 | 6:00 am
Ogun SME's development - state disburses N600m from BoI revolving loans.
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South Africa approves a funding plan for phasing out coal-based power. However, the hundreds of millions in loans have some citizens worried about supersizing the nation's debt.
Data by the International Monetary Fund shows that only 24 per cent of loans collected by farmers under the anchor borrowers’ programme of the Central Bank of Nigeria has been repaid.
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In Nigeria, small and medium-scale enterprises account for more than 48% of the GDP and constitute more than 80% of the entire business sector. However, their failure rate is very high as these businesses fold up between their 3rd and 5th year, these businesses fold up for several reasons, some because of profitability and some simply because of the harsh business environment. GuardianTV speaks with entrepreneurs about why businesses fail.
The $5.4 billion set for disbursement brings the total lent to the Latin American country under the Extended Fund Facility to $28.9 billion. Argentina is the target of the IMF's largest assistance program.
Kenya's President, William Ruto, announced that the country will not acquire loans to pay civil servants, even as union groups threatened to go on strike due to unpaid March salaries. According to Ruto, the salary delays are due to the country's substantial public debt, with some loans becoming due this month.
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