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CECAFA will not change the current format of the Senior Challenge Cup where member countries converge to compete in one country. Some countries had proposed a home and away format like it is in the COSAFA, which they said would ease the financial burden on the host country.
Audit report released on the expenditure and administration of the Ministry of Finance covering the periods 2006/2007 by the General Auditing Commission (GAC) says there were irregularities in the payment of domestic debts to claimants.
The government of the central Mozambican province of Sofala has admitted that so far the repayment of loans under the Local Initiative Investment Budget (OIIL) has been "insignificant", reports Monday's issue of the Maputo daily "Noticias".
The General Auditing Commission (GAC) has questioned the payment of US$5,048,907.00 domestic debt, saying that there were no vouchers to support payments.
Topping Bayelsa United FC have been barred from playing in the Globacom Premier League until they cough out N25 million being salaries and sign-on fees owed players, coaches and officials of the club.
The SPCA, which is millions of rands in debt, has just gone through its worst financial year.
The deputy governor of Cross River State, Mr. Effiok Cobham, has said that the debt burden the administration led by Senator Liyel Imoke will leave behind may be more than what the government inherited from Donald Duke, given the developmental strides of the administration.
HARMONY Gold Mining has taken the first step to clearing its books of debt after raising almost R1bn through a share issue, paving the way for a possible acquisition in mid-2009.
BANK of Uganda (BoU) has asked the High Court to overturn a fraudulent ruling that facilitated the illegal transfer of titles held as security for a debt owed by businessman Basajjabalaba, senior officials have said.
RENEWED liquidity worries are circling around Super Group, whose latest restatement of financial results has prompted a ratings downgrade and a run on shares.
ZIMBABWE'S domestic debt rose 17 800% inside one month to $179,6 trillion on September 8 from $1 trillion recorded on August 8, creating heavy future taxes official, figures revealed this week.
Former Director General of the Debt Management Office (DMO) and ministerial Nominee, Dr. Mansur Muktar, yesterday blamed the lack of development of some sectors of the economy on the valuable time used by the former president Chief Olusegun Obasanjo in pursuing debt relief for the country.
THE Government will slip into debt if the delayed off-loading of the recently bought 90,000 tonnes of crude oil persists, Energy and Water Development Permanent Secretary, Peter Mumba has said.
Due to the negative implications of both domestic and external debt on the economy of any country, especially Nigeira, the Federal Government has been advised to stop any further taking of loans from developed countries.
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