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Rwanda: Parliamentarians Review Rwanda, Morocco Double Taxation Bill

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Parliament’s Standing Committee on Foreign Affairs, Cooperation and Security yesterday met with a team from Rwanda Revenue Authority and the Ministry of Finance to discuss the Bill concerning the agreement on tax avoidance signed between Rwanda and Morocco. The agreement on the avoidance of double taxation and tax evasion regarding income taxes between the two countries was signed in October ...

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Egypt:IMF team in Cairo to review second instalment of $12-billion loan

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An International Monetary Fund (IMF) delegation will arrive in Cairo on Sunday to review Egypt’s progress on economic reforms before it disburses the second instalment of a $12-billion loan programme, the Finance Ministry said. The IMF delegation will stay until May 11 and meet with officials from the ministry and the central bank, the ministry said in a statement. Egypt ...

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Algeria:GE Power’s $3 bln deal creates hundreds of jobs

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GE Power, a division of General Electric Co, has signed a services deal with Algerian utility Sonelgaz SPE valued at more than $3 billion, the largest services agreement ever for GE Power and one that creates hundreds of jobs in Algeria, GE said on Monday. Under the 20-year contract with the subsidiary of Sonelgaz, GE will train more than 1,000 ...

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Algeria: Four homemade mines, explosives discovered Sunday in Tizi Ouzou

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Four homemade mines and explosives were discovered Sunday in Tizi Ouzou by units of the People’s National Army (ANP) following a combing and search operation, announced Sunday the National Defence Ministry in a communiqué. “As part of counterterrorism and following a combing and search operation, an Army detachment under the operational area of Tizi Ouzou (1st Military Region) discovered on ...

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Rwanda: Local Firms Look to Morocco for New Markets and Business Partnerships

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Fifty local private sector members will next month head to Casablanca in Morocco to explore trade and investment opportunities in the north African country. Geoffrey Kamanzi, the Private Sector Federation (PSF) director for trade facilitation and negotiations, said business leaders from the energy, finance, transport and logistics, information and communication technology, construction and real estate sectors, among others, will make ...

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Uganda: Egypt Extends Shs95 Billion to Control Kasese Floods

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The Egyptian government has invested Shs95b in a project aimed at mitigating floods in Kasese District. The five-month project of protection works for flood mitigation in the district is funded by the Egyptian government under the Ministry of Water Resources and Irrigation. Construction works will commence with River Nyamwamba and spread to other rivers in the district. “The contract was ...

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Morocco: Rwanda Eyes Over U.S.$100 Million Investments From Morocco

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Rwanda is expecting more than $100 million in investments from Morocco. Acting head of investment promotion at the Rwanda Development Board (RDB) Winifred Ngangure Kabega said at a press conference Monday that the money would be invested in different sectors of the economy including tourism, energy, and infrastructure. Kigali hosted more than 100 Moroccan investors and government officials Monday in ...

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North Africa:169 Gambians Repatriated From Libya

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International Organization for Migration (IOM), in partnership with the Ministry of Foreign Affairs, International Cooperation and Gambians Aboard and the Ministry of Interior, has repatriated 169 Gambians from Libya. This is the second batch of returnees following the repatriation of 140 Gambians sometime last month. The deputy permanent secretary at the Ministry of Foreign Affairs, Ebrima Jobe, said consultations for ...

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Rwanda to Lift Double Taxation for Moroccan Investors

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Rwanda’s Cabinet on Wednesday approved a law removing double taxation for Moroccan investors while mitigating against tax evasion on income accrued by their businesses. Moroccan investors have shown great interest in Rwanda ever since King Mohammed VI visited the country in October last year. “Investments from Morocco are coming in at a high speed; therefore, facilitating them is an opportunity ...

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Moroccans Eye Tanzania Fishing Industry

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Moroccan investors are set to establish a fish processing factory in Tanzania. “Some Moroccan investors have conducted a study and found huge potential in fisheries. They intend to set up a giant fish processing factory. Zanzibar and Union governments are striving to attract investors,” said Zanzibar Finance minister Khalid Salum Mohamed. He was speaking at a meeting on African Business ...

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