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Africa in Business: from creditors to clothes
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STORY: Here's what's been making the business headlines in sub-Saharan Africa this week.

1. Zambia said on Monday (March 25) that it had reached an agreement with a group of private creditors on restructuring $3 billion of its international bonds.

That's a major step in bringing the country closer to emerging from its long-delayed debt rework after it defaulted more than three years ago.

2. Kenya Airways swung to an operating profit last year of 10.53 billion shillings, or a little over $80 million, it said on Tuesday (March 26) - its first since 2017.

That's off the back of a 53% increase in revenue buoyed by a 35% increase in passenger numbers.

The carrier, one of Africa's three biggest, slid into insolvency in 2018 after an expansion drive left it hundreds of. millions of dollars in debt.

3. Nigeria is seeking an international arrest warrant after Binance's regional manager for Africa fled custody last week, officials said on Monday.

Nigeria has also filed tax evasion charges against the cryptocurrency platform.

Binance said it was aware that Nadeem Anjarwalla was no longer in Nigerian custody and was working with authorities to resolve the issue.

4. The Commercial Bank of Ethiopia said it has recovered more than three-quarters of the $14 million it lost when a software glitch earlier this month allowed customers to withdraw more funds than they held in their accounts.

The bank's president said university students were largely responsible for what he called "theft" and said the names of more than 500 people who are yet to return the money had been published.

5. And finally, a representative of second-hand clothes sellers in Kenya has warned against a proposal by France, Denmark and Sweden to restrict used clothing imports from the European Union.

The EU says clothes exported into developing countries that cannot be resold often end up in dumps.

However Teresia Wairimu Njenga, chair of the Mitumba Consortium Association of Kenya, said used clothes support livelihoods in an industry that employs two million Kenyans, and generates tax revenues for the country.