The region has faced severe macroeconomic conditions marked by low commodity prices and foreign currency crises. Companies have sought to manage their exposures, and businesses have struggled to meet their obligations. This situation has necessitated the need to redefine efficiency and explore new options in unlocking value.
What does 2017 hold for the restructuring industry?
Low commodity prices, exchange rate fluctuations and decline in government spending have left many West Africans under strain. Nigeria, for instance, has experienced a "perfect storm" of economic and political events which have placed significant pressure on the economy.
In order to explore the implications for the restructuring market in 2017, we surveyed a cross-section of key restructuring professionals in Nigeria and Ghana to obtain a better understanding of where the industry is now and what their expectations are for 2017. These responders were selected from a mix of commercial banks (47%) and lawyers (53%).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.