Debt distress & restructuring | Business Redefined

Debt distress vulnerabilities have become elevated in the recent past as frontier markets struggle with servicing dollar denominated maturities at a time when the global markets have been broadly shut and impeding efforts to refinance. In Africa, Ghana, Zambia and Ethiopia have defaulted and are in the process of undertaking debt restructuring. With growing concerns regarding the global financial architecture and the prolonged process of debt restructuring, this episode of Business Redefined explores what an alternative framework for debt distress resolution could look like and what the asks from debt economies should entail.
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Episodes
KQ'S balance sheet restructuring | Business Redefined On this episode, flying back to profit territory but still deep inside the headwinds of negative equity - unpacking KQ's balance sheet restructuring & the search for a strategic investor. We delve into the conversation with Allan Kilavuka - CEO, Kenya Airways PLC September 3, 2024
KCB Group HY2024 Earnings | Business Redefined This week on #CFOChat, a deep dive into KCB HY2024 earnings with Lawrence Kimathi - Finance Director - KCB Group. All the updates on:
  1. Divesting from NBK
  2. Pricing dynamics
  3. The bad book & elusive recoveries
  4. The slowdown in BPR, Rwanda
  5. Developments in TMB, DR Congo
  6. Recapitalization
 August 27, 2024
Mi Vida's capital raising plan | Business Redefined Mi Vida’s Samuel Kariuki is on a mission to turn Kenya’s rather sluggish Real Estate Investment Trusts (REITs) market on its head. He is seeking the Capital Market Authority’s approval to issue the first REIT which offers investors a redemption sweetener in what he believes will be a solution for the shallow secondary trading market and hopefully woo more investors into the asset class. The residential housing units developer seeks to raise Sh5.0 billion through a development REIT to finance its construction pipeline. He sat down with Julians Amboko to discuss the company's latest capital raising plan. August 20, 2024
Reforming the global financial architecture | Business Redefined The global south has come under sovereign debt vulnerabilities ever since COVID19 struck & thereafter major economies began tightening monetary policy to contain run-away inflation following the Russia-Ukraine war. Sri Lanka, Zambia, Ghana, Ethiopia & Suriname defaulted on their debt obligations in the wake of this environment. Is the global financial architecture as presently structured fit for purpose when it comes to sovereign debt distress & resolution? Has the Common Framework delivered on its mandate of accelerating debt restructuring? Business Redefined attended a conference in Brazil dedicated to addressing these & more questions August 15, 2024
In the markets | Business Redefined On this episode, we look at developments in the markets as Kenya's public finance space deepens further into uncertainty following the Court of Appeal's decision nullifying Finance Act 2023. We have a one-on-one with Wilson Wariari - Chief Investment Officer, Arvocap Asset Managers, on all matters equities, fixed income, foreign exchange & the downgrade of credit ratings.     August 6, 2024
Parliament's review of supplementary Budget I 2024/25 | Business Redefined The National Assembly trimmed the planned budget cuts on Kenya's 2024/25 spending plan from the Kes 156.0 billion proposed by the National Treasury to Kes 147.8 billion. The National Assembly has also upgraded the Appropriation in Aid projection for the year by Kes 48.69 billion to Kes 474.67 billion. In this episode of Business Redefined, we speak to IC Group Economist, Churchill Ogutu, to make sense of the latest adjustment to the numbers. July 30, 2024
The insurance market in Kenya | Business Redefined Insurance penetration in Kenya remains very low at 3.0% according to the Insurance Regulatory Authority. What informs such abysmal uptake in a market where formal financial inclusion is one of the highest among emerging & frontier markets globally? How can we stir up interest in Kenyans willingness to take on safety nets to cushion them when risks materialize? Also, how is the transition from IFRS4 to IFRS17 impacting the insurance sector? We sat down with the Managing Director of First Assurance, Stephen Lokonyo, to unpack this & a lot more July 24, 2024
Supplementary Budget I 2024/25 | Business Redefined This episode on Business Redefined, inside the much anticipated cwith Churchill Ogutu - Economist, IC Group. We have until July 22nd to submit our comments on the proposed adjustments to the 2024/25 spending plan, quite a tight window there. What are the key proposals & what do they mean for the financial year just started? We delve deep into the conversation. July 17, 2024
July 1st, 2024 Customs measures | Business Redefined New custom duty measures took effect on July 1st, 2024 following the East African Community Common External Tariffs gazette dated June 30th. Among the measures, Kenya has opted for a lower duty rate, compared to regional peers, for rice imports while adopting a higher rate on a number of goods including baby diapers and crude palm oil. What does this mean households and businesses in the country? Business Redefined explains July 10, 2024