Liquid Telecoms is set to launch a $700 million bond

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Liquid Telecoms is set to launch a $700 million bond and long-term financing package to support the group’s existing debt and growth strategy.The Pan-African telecommunications group said the funding would be raised through its subsidiary, Liquid Telecommunications Financing Plc. It is hoped that the funds from the new financing would support Liquid Telecom as it continues to rapidly scale and expand its network capabilities and service offering across Africa. The new financing package is also expected to help deliver long-term benefits to Liquid Telecom’s growing number of enterprise, carrier and retail customers, which at present includes over 113 000 customers across 13 countries of operation including Zimbabwe.Liquid Telecom serves businesses of all sizes through an extended service offering, which includes integrated software, cloud, hosting and connectivity capabilities. – The Herald, 28 June 2017

The World Bank, which projects a 2,8 percent growth rate for Zimbabwe, says the fiscal imbalance besetting the country could affect medium-term economic growth by limiting resources available for structural reforms.The Bretton Woods institution said that fiscal imbalances lie at the core of Zimbabwe’s financial challenges. The Government’s fiscal cash deficit moved to 10 percent of gross domestic product (GDP) in 2016, from 2,3 percent the previous year. The multilateral lender said that the ongoing financial challenges were likely to affect long-term investments by both large and small companies.Treasury spends over 90 percent of the country’s national budget – $4,1 billion for 2017 – on recurrent expenditure, which significantly limits resources available for investment in capital formation.Fiscal expansion in 2015 /16 boosted short-term economic growth, the WB said, but depleted financial resources to support long-term development. – The Herald, 28 June 2017

The Reserve Bank of Zimbabwe says it licensed five Microfinance Institutions (MFIs) in the quarter to March 2017, bringing the number of licensed MFIs to 179. – Daily News, 28 June 2017

Two South Africa-based Zimbabwean investors have teamed up with international businessmen to establish a multi-million dollar intermodal terminal here. The Musina Intermodal Terminal, launched on Monday, is a transport hub designed to handle road and rail cargo worth over $10 billion which passes through Beitbridge Border Post monthly. It is the brainchild of Zimbabweans Isaac Charumbira and David Gotora, who teamed up with a consortium of companies, and their arrival in Musina will create more than 20 000 jobs from main and downstream industries. Goods to and from Sadc countries north of Zimbabwe, that come through Beitbridge by road, will be dropped and picked by rail at Musina which is expected to reduce transport costs. –  NewsDay, 28 June 2017

By |June 28th, 2017|Categories: Headlines|

About the Author:

Kudzanai Sharara
Kudzanai’s background in financial journalism with ZFN, combined with a continuing education in financial management, provide a solid grounding for his work in the research department.