Category: INTERNATIONAL
-
South Africa: Sassa Still Has 50 000 Deduction Complaints to Deal With – Dlamini
Social Development Minister Bathabile Dlamini has told MPs that more than 50 000 grant beneficiary complaints were incomplete as they were still waiting for affidavits from complainants. Dlamini told the National Council of Provinces on Tuesday that the South African Social Security Agency had received 95 429 disputes from grant beneficiaries from April 2016 to…
-
S.A needs to clarify policy to boost confidence: Gigaba
South Africa needs to provide policy clarity to boost investor confidence, after a cabinet reshuffle and a pledge to introduce “radical economic transformation”, Finance Minister Malusi Gigaba said on Tuesday. Gigaba’s comments echo those of President Jacob Zuma about redistributing wealth, which remains largely in the hands of the white minority more than two decades…
-
kenya: EABL blames erratic tax for its high business costs
Unpredictable tax rises have escalated East African Breweries Limited’s (EABL) cost of doing business and made planning difficult. EABL group chairman Charles Muchene on Monday said volatile tax is making it difficult for investors to attract long-term capital. “Investors are looking for a predictable environment so that they can plan. If we have a policy…
-
Kenya: 50pc tax will drive us out of business, say betting firms
The Association of Gaming Operators has called for the withdrawal of the proposed 50 per cent turnover tax on gaming, betting and lottery. Chairman Ronald Karauri warned the tax would bring the gaming industry to its knees. Speaking at PrideInn Beach Resort in Mombasa on Monday during a public participation meeting organised by the Parliamentary…
-
Kenya:Banks lending to Treasury up by Sh119bn from March
Bank share of government debt has gone up by Sh119 billion in the past two months to cross the Sh1 trillion mark, in a move that could signal a prolonging of slow credit growth for the private sector. The outstanding government domestic debt held by banks now stands at Sh1.088 trillion, equivalent to 55.1 percent…
-
Nigeria: 41 Items Remain Ineligible for Forex Allocation – CBN
The Central Bank of Nigeria, CBN, said Wednesday’s circular on revised documentation requirements for allocation of foreign exchange for small-scale importation did not mean a reversal of its policy barring allocation of forex to some 41 items in the country. “The attention of the Central Bank of Nigeria (CBN) has been drawn to media reports…
-
Nigeria plans to set up national airline, develop aviation capacity
Nigeria has appointed advisers to help it set up a national airline and develop its aviation infrastructure — currently seen as a barrier to economic growth — to create a hub for West Africa, junior aviation minister Hadi Sirika said on Wednesday. Sirika said a group of six firms including German carrier Lufthansa would advise…
-
S.A close to launch of challenger to “big four” banks
South Africa is close to spinning a state-owned bank out of its postal service that will lend to the country’s poor and distribute welfare grants, in a bid to loosen the grip of private sector banks. Financial services, the largest sector of the South African economy at 20 percent of nominal GDP, have long been…
-
Technocrat behind Kenya’s cashless platforms retires
The man credited with setting up Kenya’s globally acclaimed cashless regime, Stephen Mwaura Nduati, on Monday retired from the Central Bank of Kenya (CBK) at 60. Mr Nduati was head of the national payments system for more than a decade with the highlight of his career being the integration of mobile money platform M-Pesa into…
-
Qatar Airways plans to fly triple daily to holiday hotspot
Qatar Airways has announced that it will operate a third daily non-stop route from Doha’s Hamad International Airport to Bali Denpasar from Sunday. Bali has long been a popular destination for Qatar Airways’ passengers, with the airline offering its first direct service in 2014, later enhancing this to a twice daily frequency. Qatar Airways Group…