Reading the books.
Thirteen weeks of cash, what is committed against what is merely hoped for, and where the covenant bites.
Thirteen weeks from 17 Aug 2026, in USD. Only committed facilities are counted as liquidity.
Closing cash is drawn twice: on its own, and including undrawn committed facilities. Only committed lines are added — an uncommitted facility is not liquidity.
USD. The dashed line includes undrawn committed facilities; the solid line is cash alone.
The cash runway against the facilities. Committed facilities only. An uncommitted line is not liquidity.
USD. Receipts and payments as forecast, week by week.
The cash runway of Arkan Distribution. Both lines are forecasts and carry the estimate mark wherever they are stated as figures.
| Week | Beginning | ReceiptsUSD | PaymentsUSD | NetUSD | Closing, cash aloneUSD | With committed facilitiesUSD |
|---|---|---|---|---|---|---|
| 1 | 17 Aug 2026 | |||||
| 2 | 24 Aug 2026 | |||||
| 3 | 31 Aug 2026 | |||||
| 4 | 7 Sept 2026 | |||||
| 5 | 14 Sept 2026 | |||||
| 6 | 21 Sept 2026 | |||||
| 7 | 28 Sept 2026 | |||||
| 8 | 5 Oct 2026 | |||||
| 9 | 12 Oct 2026 | |||||
| 10 | 19 Oct 2026 | |||||
| 11 | 26 Oct 2026 | |||||
| 12 | 2 Nov 2026 | |||||
| 13 | 9 Nov 2026 |
| Lender | Limit | Drawn | Undrawn | Currency | Is it liquidity? |
|---|---|---|---|---|---|
| Wio Bank | USD | committed | |||
| Wio Bank | USD | committed | |||
| Regional bank | USD | uncommitted — a hope |
26,000,000 of committed headroom is counted in the forecast above. 12,600,000 of uncommitted headroom is not: an uncommitted line is not liquidity, and counting it is how a business believes it has a runway it does not have. The receipts above are not attributed to a market, and 105,517,855 USD of the receivable balance behind them is owed from Ghana and Nigeria and Tanzania and Uganda, from which cash cannot be freely moved. A closing balance that assumes all of it converts overstates what can actually be spent by that much.
Banded by how long each posting has been outstanding, counterparty by counterparty. The provision comes from the band matrix rather than from judgement on the individual balance.
USD, by how long the balance has been outstanding. The 8 largest counterparties.
The receivable ageing of Arkan Distribution. The provision beneath is derived from the band matrix, not from judgement on the individual balance.
| Counterparty | CurrentUSD | 31 to 60 daysUSD | 61 to 90 daysUSD | 91 to 180 daysUSD | Over 180 daysUSD | TotalUSD | ProvisionUSD |
|---|---|---|---|---|---|---|---|
| Alpha Electronics — Nigeria | |||||||
| Kilimanjaro Distributors — Nigeria | |||||||
| Crescent Mobiles — Nigeria | |||||||
| Sahel Traders — Nigeria | |||||||
| Crescent Traders — Tanzania | |||||||
| Kilimanjaro Electronics — Nigeria | |||||||
| Lagoon Telecom — Nigeria | |||||||
| Crescent Communications — Nigeria |
The expected credit loss provision across every counterparty is 78,181,895 USD against 140,713,049 outstanding. It is derived by applying each band's loss rate from the provision matrix — 5 bands held for Arkan Distribution — to the balance in that band. A provision is an estimate of what will not arrive, not a write-off of what has gone. 105,517,855 USD of it — 75.0 of what is outstanding — is owed from Ghana and Nigeria and Tanzania and Uganda, where cash cannot be freely moved out. Collecting it does not make it spendable, and a provision does not cover that: the money arrives and stays where it arrived.
No payable is outstanding for Arkan Distribution.
With nothing owed to suppliers the cash forecast above carries no trade payment beyond what it already shows.
Measured against the limit in the facility agreement. The dashed rule is the limit.
The facility agreements of Arkan Distribution. As last tested against each facility.
No instalment is scheduled.
Without a schedule the forecast above cannot see what falls due beyond its horizon.