How to Improve Tax Collection in Uganda
The country’s low tax compliance contributes to a national tax-to-GDP ratio of 14%, well below the 18% average of the sub-Saharan African countries. Although tax evasion happens in many spheres – and many types of people do it – close examination of tax returns filed to the Uganda Revenue Authority by self-employed individuals suggests rampant […]
For Many Ghanaians, the Electronic Tax Represents yet Another Burden
The Ghanaian Parliament has approved a new electronic transaction tax which the government says will help raise $900m in much-needed revenue but which has sparked widespread popular criticism. The E-levy bill, passed on Tuesday, will introduce a 1.5 percent tax on electronic money transfers and transactions. President Nana Akufo-Addo’s government has said the move will […]
Nigerian “Buy Now, Pay Later” Startup On the Rise
CredPal has raised US$15 million in funding to expand its consumer credit offerings in Nigeria and scale across Africa. Launched in 2018 by Fehintolu Olaogun and Olorunfemi Jegede, CredPal is a consumer credit platform that gives buyers the freedom to buy now and pay later, and helps merchants acquire more customers to increase sales. The […]
The DRC is Now the Biggest Country in East Africa’s Trading Bloc
Trade in eastern Africa is set for a boost after officially welcoming its seventh member, the Democratic Republic of Congo (DRC), into the East Africa Community (EAC) this week. Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda are the other members. The DRC is the largest and most populous country to join the EAC, bringing […]
Meeting the Growing Demand for High-speed Connectivity for Coastal and Landlocked States in Africa
Liquid Intelligent Technologies, a Zimbabwean firm specializing in fiber connectivity, announced, on Tuesday, the acquisition of a fiber pair on Google’s Equiano submarine cable. This will enable the Econet Group’s subsidiary to improve international connectivity in West and Southern Africa, with the capacity to transport up to 12 Terabits of traffic. With its over 100,000 […]
Good News for Kenya’s Banking Sector
Credit growth at Kenya’s largest banks is set to expand at the fastest pace in six years as they shift cash parked in government securities to lending to the private sector. Lenders in East Africa’s biggest economy were stymied as regulatory decisions hampered their ability to price risk. The central bank is now expected to […]
State of the Industry Report on Mobile Money
Mobile money hit a new milestone last year as the value of transactions processed globally surpassed $1 trillion for the first time, according to a report released this week by the GSM Association, which tracks data in the mobile telecommunications industry. A rise in merchant payments, international remittances, and governmental humanitarian assistance are some of […]
The First Company Launched from Africa to List on the Nasdaq
Mass transit and shared mobility provider Swvl went public this week in a landmark moment for Egyptian and Middle Eastern tech ecosystems. It’s also a test for the company going public despite a market that’s been unfriendly toward combinations with special purpose acquisition companies, or SPACs, of late. The Egypt-born and Dubai-based company has listed […]
Last Call For MICE: Book Your Seat For IBTM AFRICA 2022
Africa Travel Week is urging Africa’s event, exhibition, and incentive organisers to reserve their seats for IBTM Africa, running alongside WTM Africa on 13 April at the Cape Town International Convention Centre (CTICC). “WTM Africa may be our flagship show, but we also host a range of value-add events such as IBTM Africa which specifically […]
West Africa Set To Unlock The Power Of Small Businesses
Standard Bank’s BCC division driving Africa’s growth one small business at a time Standard Bank’s recently established Business & Commercial Clients (BCC) division is deliberately focused on building a capability ecosystem to support small traders, agribusinesses, emerging manufacturers and entrepreneurs to grow into formal enterprises – or even become national corporates or cross-border multinationals. In […]
