Nigeria Unveils Digital Tax Targeting Internet Firms
Global technology companies are under siege as nations rush to compose digital economy taxation laws. Multinational digital firms such as Facebook, Uber, Bolt, and Netflix which have no physical presence [...]
World Bank Projects a Sharp Decline in Tanzania's Economic Growth
The World Bank projects that Tanzania will experience a sharp decline in economic growth in 2020 due to the impact of COVID19. Preliminary simulations indicate that the decrease in growth [...]South Africa Negotiating $4.2B Loan From the IMF
South Africa is negotiating a $4.2 billion loan with the International Monetary Fund (IMF). President Cyril Ramaphosa intends to use the relief package to cushion the economybattered by COVID19 and [...]AfDB Issues $288.5 Million Loan to Support Nigeria's Economy
The African lender, AfDB, approved a $288.5 million loan to help Nigeria ease the impact of Coronavirus. The loan will also help the West African country through tough economic times [...]
Zimbabwe's Central Bank Limits Internal Bank Transfers
Zimbabwe's central bank, the Reserve Bank of Zimbabwe (RBZ), has limited internal bank transfers to two per day, a move that seeks to curb the free fall of the Zimbabwe [...]Zanzibar Reopens its Tourism Sector
Tourism Minister for Zanzibar, Mahmoud Thabit Kombo, yesterday removed quarantine barriers and announced the reopening for tourist activities. The region will now allow both charter and scheduled flights, removing quarantine [...]African Startup Ecosystem Falls in 2020 Global Rankings
African cities and countries rank lower in the 2020 global startup ecosystems' list byStartup Blink. The global ranking of regional giants like Kenya, Nigeria, and South Africa as preferred startup [...]Kenya Overtakes Angola to Become 3rd Largest Sub-Saharan Economy
Kenya is now the third-largest economy in Sub-Saharan Africa after surpassing Angola. Bloombergnotes that while IMF projects Kenya's GDP to grow by 1%, Angola's GDP might fall by 1.4% in [...]South African Firm Crosslists on Rwandan Bourse
South Africa's medical firm RH Bophelo has cross-listed on the Rwandan Stock Exchange (RSE). RH Bophelo becomes the 9th member and the first South African company on the Rwandan bourse [...]South Africa Expects International Tourist to Return in 2021
South Africa’s tourism ministry expects international tourists to return to the country in February 2021. In a press address, Tourism minister Kubayi Ngubane said that given the COVID19 positives cases [...]Uganda's NC, CBA Merger to Create KSh 15.5 Billion Bank
NC Bank Uganda Limited (NC Bank) and Commercial Bank of Africa Uganda have been given the greenlight to merge their businesses by the Bank of Uganda. The merger will create [...]Zambia in Talks for Debt Restructuring
Zambia is in talks for the restructuring of its $11 billion external debt, even as prices of copper, its main foreign exchange earner, continue to fall amid the coronavirus crisis. [...]
