Author: Opinion

As the world grapples with the impact of the global recession caused by the Covid 19 pandemic, the impact of the Russia – Ukraine war, the effects of climate change, and other challenges, terrorists and violent extremists, including Da’esh, Al-Qaida, and their affiliates, continue to intensify their activities on the African continent aggravating an already difficult situation. The response has been, by and large, heavy on the military. Still, countries are increasingly focusing on prevention with a particular focus on addressing the root causes, such as poverty reduction, strengthening institutional capacity to respond to the needs of their populations, and…

The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and its amendments. While there was an expectation for major changes, the reality is that the new Act is more or less the same as the previous minus a few differences outlined below: 1. The Act is in the Kiswahili language and there is no translation of the same in English. 2. Removal of the automatic immigration quota of 5 work and residence permits for expatriates workers. While previously an investor registered at the TIC would be allowed up to 5…

Kenya has much of what it takes to become a globally competitive tourist destination. With its modern infrastructure, the country has the capacity to receive many more tourists. The favourable investment climate means any increase in demand would easily trigger new investments in accommodation, attractions, and tourist services.

Demand is, however, the most crucial factor here, and with the current visa regime, Kenya faces an unnecessary barrier that limits the growth potential of a key engine of the country’s economy. 

An easing of visa policies could be implemented in a matter of days and would provide an immediate boost to Kenya’s tourism competitiveness. Bringing back visa-on-arrival would be a major improvement. Visa-free entry for citizens of the main source markets even more so.

Insurance brokers in Kenya, as well as insurance agencies, can negotiate terms requiring insurance coverage under credit terms, as happens in the banking industry. The article seems to go all out to malign the insurance agents’ names by saying they are the ones owing the billions.

This gives the impression there could be a hidden motive in the penning of the article. The Kenyan insurance sector is highly regulated, and a working regulator should ensure that such cases are unheard of with licensed insurance agents in Kenya.

According to the Insurance Act Cap 487 Section 156 talks about insurance premiums and the manner in which they are supposed to be remitted to the insurer. Insurance brokers in Kenya are supposed to remit their premiums immediately after they receive the same from the client. Other intermediaries have a certain window within which they are supposed to remit the premiums and this goes for all the licensed insurance agents in Kenya.

More importantly though, a clear signal was sent to the EU Parliament that the colonial days are over and that meddling in affairs and interfering with matters that are of the exclusive sovereign remit of the host countries, Uganda and Tanzania, is simply not tolerated.

Following the EU Parliament’s action, Total Energies is to appear before the Parliament for a hearing and answer queries that the members of parliament will have. That coupled with the fact that Total has an ongoing court case in France regarding an allegation of its failure to put in place an adequate vigilance plan covering health, safety, environment, and human rights risks as required by French law, related to the the same EACOP project, it will be interesting to see whether or not Total Energies might drop out of the project at the risk of being exposed to breach of contract claims by the other Parties to the venture.Total Energies controls EACOP legal shareholding since it has the majority.

However, it may be a small price to pay amid the increasing pressure in France and Europe for green and climate friendly projects. Worldwide, financiers are avoiding investments in fossil fuels projects and looking for what is hailed as green investments.

The opposition was excluded, the army shot protesters in the post-electoral uprise, and according to Amnesty, at least 5 people were killed during the last election, and several hundred were arrested or exiled.  Since then, nothing has changed.  Repressive laws and regulations that excluded opposition from the past elections are still in place, and opposition leaders are still in prison; a crackdown on dissenting voices is still occurring, except now Talon has blackmailed, corrupted and coerced local politicians into participating in the 2023 election to legitimize his electoral holdup.

Therefore, his August 30th declaration before the Business community in France in the presence of French President Emmanuel Macron, is not an accident but by design and should be taken seriously because back home, Talon had already started the process of changing the country’s constitution after January 2023.

The January 2023 legislative elections represent another major challenge for the country but an opportunity for Patrice Talon and if he gets his way, 2023 will toll the bell on Benin’s democratic adventure forever. Patrice Talon is now manoeuvring to secure a third term in office and will leverage the upcoming legislative electoral process to do it. And the tell-tale signs are here.

For practical reasons, European gas buyers need to find a way to make up for the supplies missing from Russia. And for both policy and practical reasons, Brussels wants to deny Moscow the opportunity to continue using gas supplies as a blunt instrument with which to threaten Europe in the future.

The change isn’t going to be immediate. Reducing Russia’s profile in the EU’s energy mix will take time. But the process of supply reduction is underway, and it has already opened up new opportunities for African gas producers to acquire market share in Europe. I expect those opportunities to last beyond the near term as the EU attempts to establish a new combination of gas suppliers to replace Russia over the next few years. 

I also hope Africa’s emerging gas producers take advantage of new LNG technologies, such as the modular Fast LNG solutions offered by New Fortress Energy (NFE), a U.S.-based company, to meet European demand for gas. With these technologies, they won’t have to wait as long or spend as much money to begin producing the LNG that European consumers are clamouring to buy.

One of the many lessons learned from the pandemic is that SMEs need to embrace digital transformation, not just to weather unplanned challenges but because it will help them be more competitive and stable. Digital enablement is not just a means of survival. It is a way for SMEs to conduct business more efficiently, which in turn can empower them to expand their operations and earnings further. 

Being nimbler than their big business counterparts, SMEs can quickly rethink their marketing strategies and adopt new technologies to enhance their offerings faster. Digital innovation provides extraordinary opportunities for SMEs. It empowers them to implement new market models, has a greater line of sight across their business, improves traceability, and meet their customers, service providers, and logistics partners, in many instances, all on the same page. 

In the digital trading space, solutions such as import/export platforms, automated cargo-tracking and digital reporting of non-tariff barriers can significantly provide efficient cross-border trade levelling the playing field for SMEs. This, in turn, is good for both the customers and communities they serve as well as the continent’s economic growth on a wider scale.

Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year Single Window can cross-check credentials for consistency and traceability, reducing errors and fraud The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year. Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis. The…

Tax relief or a better legal framework for SMEs and start-ups would have been a major milestone for Tanzania’s private sector development agenda, however, the Finance Act does not address the heavy burden that start-ups and SMEs face when doing business in Tanzania and furthermore the proposed allocation of local government to the improvement of local entrepreneurship infrastructure was proposed, it was subsequently removed along with the contribution of local government finances to women entrepreneurs as well.

It would have been an opportunity for the Finance Act to enact amendments to certain Anti-Money Laundering Act and Economic Crimes Act provisions that treat tax offences as economic crimes or money laundering offences that are unbailable offences when they should be treated as tax offences that attract hefty fines and/or penalties.

Other areas that could have been amended are the problematic provisions of the Tax Administration Act including section 52(10) which provides that an objected assessment/decision is confirmed and subject to appeal if the Commissioner fails to determine it within 6 months of admission to name just a few.