Category: INTERNATIONAL
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Tanzania: Magufuli Hailed for Delivering On Taxes
Several analysts have praised President John Magufuli’s administration for taking a lead role in implementing new income tax measures, saying it would positively benefit fixed low-income earners. The new tax measures approved by the National Assembly early this week directs all public leaders, including the president, to pay five per cent income tax on their…
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South Africa:AG to probe R5bn ‘secret’ oil deal
The Auditor General (AG) will be investigating the allegedly unlawful sale of fuel stocks involving Minister of Energy Joemat-Pettersson, the DA announced on Tuesday. DA MP Pieter van Dalen said in a statement that the party received confirmation from AG Kimi Makwetu stating that the allegedly unlawful sale of fuel stocks will be investigated as…
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Kenya to feel the pain of Britain’s possible EU exit
Kenya is one of the countries at a high risk of being hit by economic shocks associated with Britain’s plebiscite tomorrow on whether to dump or keep its membership in the European Union, economists said. The Central Bank of Kenya governor Patrick Njoroge, who is a former IMF economist, said East Africa’s largest economy would…
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Algeria:State Taken Measures to Meet Country’s Wheat Production Needs
“The State has taken all the necessary measures to meet the needs of the country in terms of wheat in case of decline in the national production, said Saturday Minister of Agriculture, Rural Development and Fishing Abdeslam Chelghoum during his working visit to the province of Bouira (122 km east of Algiers). “In case of…
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Nigerian: Naira tumbles 23 percent after currency peg ends
Nigeria’s naira slumped 23 percent against the dollar on Monday after the central bank removed its currency peg to alleviate chronic foreign currency shortages choking growth in Africa’s biggest economy. The naira traded just twice at 255 against the dollar, and less than $1 million had changed hands around midday, Thomson Reuters data showed, as…
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Zimbabwe: Zimra Suspends Implementation of Import Regulations
The Zimbabwe Revenue Authority has suspended the implementation of statutory instrument number 64 of 2016 which sought to tighten screws on imports of basic commodities following protests by travellers at Beitbridge Border post on Saturday. Zimra had started rolling out the new regulations which made the import of food items, building materials , furniture, toiletries…
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Malawi:IMF extends loan programme, adds $80 mln for drought measures
The International Monetary Fund (IMF) will increase loans to Malawi by $76.8 million, the global lender said on Monday following an economic review of the drought-hit country. The IMF said it was also augmenting Malawi’s Extended Credit Facility (ECF) arrangement, signed in 2012, by another six months with funding equivalent to $49.2 million. “Malawi’s macroeconomic…
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Gambia: 100 Companies to Participate in Ticad Vi – Japan Minister
Masakazu Hamachi, Parliamentary Vice-Minister for Foreign Affairs of Japan, has said more than 100 Japanese companies are expected to participate in TICAD VI. It is believed that their insights and technologies would be of great value to deepen the discussions on the priority areas of TICAD VI such as industrialization, health, and social stability. “The…
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Zimbabwe: Parliament Grills Gudyanga
Secretary for Mines and Mining Development Professor Francis Gudyanga reportedly fired the entire management of newly formed Zimbabwe Consolidated Diamond Company and appointed his former student at the University of Zimbabwe to lead the diamond firm. Parliamentarians yesterday heard that Prof Gudyanga’s appointee, ZCDC acting chief executive Dr Ridge Nyashanu, who is an expert in…
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Uganda:Debts Threaten Kazibwe’s AU Job Bid
Despite securing national and regional backing for the African Union top job, Dr Specioza Wandira Kazibwe’s chances could be scuttled by Uganda’s failure to pay membership fees to continental organisations. It was reported last week that Kampala had committed Shs 3.5bn to former vice-president Kazibwe’s campaign for the July election; but sources said Uganda’s ‘serial…