Ghana at Loggerheads With Afreximbank Over $768 Million Debt
Ghana, emerging from a bruising debt restructuring process, faces a dispute with African Export-Import Bank, one of its biggest commercial creditors, over whether it should take losses on a $768.4 million liability.
The finance ministry says the debt must be treated comparably to others it's restructured, from bilateral loans with China to $13 billion in eurobonds. But Afreximbank — which was set up by African countries and private investors more than three decades ago — insists it has preferred creditor status, meaning member states can't force it to take losses.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
43 minutes ago
- Yahoo
Raising school fees torments many Africans. Some expect the Catholic Church to do more to help
One of the most expensive private schools in Kampala, the Catholic-run Uganda Martyrs' Secondary School Namugongo, maintains a policy of 'zero balance' when a child reports to school at the beginning of a three-month term. This means students must be fully paid by the time they report to school. Tuition at the school was once as high as $800 but has since dropped to about $600 as enrollment doubled to nearly 5,000, according to the school's deputy headmaster.
Yahoo
an hour ago
- Yahoo
Why Now Is the Time to Buy Low Priced Stocks
Investors are always trying to time the market. They want to get in at the lows and get out at the highs. While this simplistic goal sounds easy, it is almost impossible to of their timing abilities, one area where investors have seen good results is low-priced stocks. Single digit stocks are attractive to investors for many reasons, but when is it best to build them into your portfolio? Let's take a look at why now is a good time to buy low-priced at the Highs Low-priced stocks work when the market is at the highs because these are the stocks that have been overlooked. The market is too concerned with which stocks are soaring towards triple digits (or even quadruple digits in some cases) to look down the allows investors the chance to get in on something that is still fairly close to the ground floor. With the overall market raising all prices, the lower you go on your entry, the better chance you have of outperforming down the investors know that you cannot have all your eggs in one basket. Apply this same idea to the high flyers with big price tags. Adding low-priced stocks to your portfolio works as a defensive measure. If things turn sour, the high priced stocks will be among the first that are at the Lows When markets are at the lows, single digit stocks are among the best plays out there. They are the ones that stand to see significant returns when the market turns around. The small price tag alone will get many investors to "buy low."Another reason single digit stocks will work at the lows is because investors begin to scour the entire universe of stocks looking for what is working. Low-priced stocks tend to be among the first to recover from panic we see investors getting burned on those high flyers. We don't hear many stories about investors losing everything on the stocks that are already beaten down. On the contrary, the time to be buying stocks like that is after everyone else has already abandoned a Game Plan I know it sounds like I am talking out of both sides of my mouth here. I supported the idea of buying low-priced stocks at the highs and also at the lows, so which is it? The truth is, it always makes sense to have single digit stocks in your . . .------------------------------------------------------------------------------------------------------Stocks Under $10 to Buy TodayZacks is now revealing its most compelling picks priced under $10 per share (but perhaps not for long). These high-quality companies have prospects for returns of up to 2X and more. While not all our picks are winners, recent recommendations have led investors to gains of +110.0%, +164.7%, and even +263.2%.¹These stocks offer the best of both worlds: immediate growth potential AND the strong likelihood of long-term special opportunity ends at midnight Sunday, June Stocks Now >>------------------------------------------------------------------------------------------------------You still have to know your target investment structure. By that I mean you should not have a portfolio of low-priced stocks built to reflect the Dow Jones Industrial Average. That stalwart mix of mega cap stocks behaves much differently than most low-priced stocks. Instead, look to a smaller index for Russell 2000 is a much better benchmark to use when structuring a lower priced stock portfolio. Use the weighting in that index as a guideline and be overweight sectors that look likely to outperform. The Zacks Industry Rank can help you figure out which areas are seeing more $5 to $50 The headline for this section isn't just an attention grabber, it really happens. In fact, it happens more than you think. Stocks that start out in the single digits hold the promise of being 5, 7, even 10 baggers over time. The key is to be patient and let the winners is not to say that investing in this space comes without risk. Only a fool would believe all single digit stocks are destined to be double digits. Along with patience, investors need to be able to accept the risk that comes along with under-followed low-priced risk is key to a well-rounded portfolio. Maybe even more so in a portfolio of low-priced stocks. Let's look at some ideas on how to balance that risk for your low-priced stock the Risk The first step in a single digit stock portfolio is diversification. I talked about benchmarking the portfolio to the Russell 2000, so be sure to use that as a guideline of what sectors should be overweighted or underweighted. Financials tend to be overweight in that index, so be sure to check that against the Zacks Industry Rank to see if you should follow should not only diversify among industry, but size as well. It is imperative to have some large cap stocks in your portfolio of low-priced stocks. It fits with the idea of not having all your eggs in one basket, so be sure to have a few big cap names in there as big cap names will also serve to soften the blow if the small caps see a sector rotation. Leadership among stock classes changes frequently and often without warning. Having a few big cap names sprinkled in can only help if things take an unexpected on Top of the Market In a low-priced stock portfolio it is important to keep your winners and sell your losers quickly. The Zacks Rank will help you get that early advantage you need to succeed. The Rank will tell you which stocks are seeing positive earnings estimate revisions, which often leads to higher stock you are an investor, not a trader. Use time to your advantage. Patience is one of the best weapons you have in your arsenal, so use it wisely. Make sure you have the fortitude to weather the storms of mild market pullbacks, as churning and selling at the lows are surefire ways to have an underperforming Set for Big Payoffs One of the easiest ways for you to avoid costly mistakes and position yourself for healthy profits with single-digit stocks is to see the recommendations we're holding in our select a diverse group of companies on the verge of big upward moves and get in when the Zacks Ranks and other proven indicators point to success ahead. Then we ride them long and high. For example, we've recently closed out positions with gains as high as +263.2%.¹Now is a great time to join the investors following Stocks Under $10. On Monday morning, I plan to add a brand-new stock to the a small-cap company with rock-solid fundamentals. The stock already has strong momentum, and it's starting on what looks to be a long, explosive started today and you are also welcome to download our just-released Special Report, 5 Stocks Set to Double. It highlights 5 tickers that are favored by Zacks experts to potentially gain +100% or more in the next 12 a word of caution: Your chance to download this report for free ends midnight Sunday, June our and download the Special Report now >>Good investing,BrianBrian Bolan is our aggressive growth expert and the editor of Zacks' Stocks Under $10 portfolio.¹ The results listed above are not (or may not be) representative of the performance of all selections made by Zacks Investment Research's newsletter editors and may represent the partial close of a position. Access grants you a comprehensive list of all open and closed trades. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Warren Buffet's Retirement: 5 Smart Money Moves That Made Him His Massive Fortune
Warren Buffet is one of the richest men in the world, with a current net worth of approximately $157 billion, according to Forbes. As the CEO of Berkshire Hathaway for 60 years, Buffett has been the perfect case study for how some relatively straightforward business principles can result in massive success. Discover More: Read Next: While Buffett certainly has some advantages that most average investors don't — from incredible stock-picking acumen to nearly unlimited capital reserves — the principles that he follows are basic enough for anyone to follow and understand. With news of Buffett's retirement buzzing, here's a look at five smart money moves from the Oracle of Omaha that you can adapt to use at a personal level. Berkshire Hathaway is a conglomerate of hundreds of businesses. Essentially, it acts as a holding company for Buffett's investment choices. To make it into Berkshire's portfolio, a company has to be a quality business trading at a discount. In most cases, this means it's priced below what Buffett determines to be its 'intrinsic value.' This provides the opportunity for future profits when the market 'correctly' reprices the business. It's true that the average investor likely doesn't have the time or talent to analyze a company's cash flows and future earnings to derive an 'intrinsic value.' But the principle behind the process remains applicable to all investors and can be distilled down to this simple strategy: Buy low, sell high. Trending Now: Buffett has been famously quoted as saying that his favorite holding period for a stock is 'forever.' Buffett is the anti-trader, a long-term investor who gives his stocks years if not decades to turn huge profits. This gives Buffett the time to enjoy the benefits of compound interest and also to take advantage of long-term capital gains tax rates. These are both fundamental investment concepts that anyone can adopt. One of Buffett's driving investment principles is that you should always keep cash reserves on hand so that you can take advantage of any market opportunities. Now, it's unlikely that you'll ever amass the whopping $334 billion in cash reserves that Berkshire Hathaway currently holds, but the idea behind amassing cash reserves applies to everyone. While you shouldn't hold too much cash in your portfolio, having some on hand allows you to be flexible and adapt to the current market environment. Buffett is far from the only financial expert to recommend understanding what you buy, but he holds to this mantra like an oath. Before he famously bought a massive position in Apple stock, he stubbornly avoided the hot tech stocks that were driving the market higher because he admitted he didn't really understand them. Although he may have missed out on some big gains from well-known companies like Nvidia, he's still managed to assemble a portfolio that has absolutely trounced the returns of the S&P 500 for a decades-long stretch. Clearly, the stocks that Buffett does choose to invest in are ones he thoroughly understands, including their profit potential. As of March 2025, Berkshire Hathaway held approximately $126 billion in debt. While that may be a lot of debt in an absolute sense, relatively speaking, it's effectively nothing. Berkshire has cash reserves of almost three times the amount of its debt — giving it net debt of $0 — and it generated over $424 billion in revenue in 2024 alone. Undoubtedly, the debt that Berkshire carries on its books serves an investment purpose, otherwise Buffett, who famously decries debt, would simply pay it off. The same principle should hold true with most investors. Debt should only be used to serve an investment purpose, such as taking out a mortgage to buy a property. Otherwise, you should use your cash reserves to pay that down, particularly if it's high-interest consumer debt, such as on a credit card. While you may never reach the lofty net worth of multi-billionaire Warren Buffett, you can very easily use some of his investment principles to make smart money moves in your own life. And who knows? Given enough time and investment acumen, maybe you too could parlay your strategy into a 10-digit net worth — or at least a solid retirement nest egg. More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on Warren Buffet's Retirement: 5 Smart Money Moves That Made Him His Massive Fortune Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
