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0 sats \ 1 reply \ @KenyaCoin OP 1 Aug 2022 \ parent \ on: Emirates slashes Lagos flight operations over $85m stuck funds bitcoin
Here's another article on the topic:
It is really having an impact on the airlines and the recovery of the market as well because airlines will be reluctant to bring capacity into markets where they can’t repatriate their money.
Airlines are looking to recover their money and they are not going to put their funds into markets that they have no confidence in. I think this is a significant factor against recovery in the continent.
Withheld $1bn foreign airlines’ funds frustrating African market recovery –Walsh https://punchng.com/withheld-1bn-foreign-airlines-funds-frustrating-african-market-recovery-walsh/
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0 sats \ 0 replies \ @KenyaCoin OP 1 Aug 2022
And, an article from Reuters:
IATA says $1 billion of revenue belonging to foreign airlines is being withheld across Africa, although Nigeria is the only country where the value of blocked funds has risen.
The $450 million, the largest amount withheld by any African nation, in May was 12.5% higher than the previous month.
Algeria, Ethiopia and Zimbabwe, who combined are withholding $271 million from foreign airlines, in May marginally paid down what they owed. Eritrea was unchanged at $75 million, IATA said.
Nigeria blocking repatriation of $450 million in foreign airline revenue, IATA says https://www.reuters.com/world/africa/nigeria-blocking-repatriation-450-mln-foreign-airline-revenue-iata-says-2022-06-19/
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