Browsing: Africa

The Chartered Institute of Taxation of Nigeria (CITN) Jos and District Society chairman Mr Isaac Wadak, has endorsed the use of modern technology to block tax leakages and fraudulent action to improve and sustained internally generated revenue in the country.

Isaac Wadak has advised the newly inaugurated tax bodies in Plateau to channel their energy towards maintaining the same tax but not to increasing it but looking for more people to pay tax.

Mr. Wadak said this during the maiden edition of the annual tax week of Chartered Institute of Taxation of Nigeria (CITN), Jos District Society, where tax clubs were inaugurated at the University of Jos, Plateau State Polytechnic Barkin-Ladi and Plateau State University, Bokkos, respectively.

According to him the Finance Act 2020 has introduced landmark changes in Nigerian tax legislation with a view to improving a sustained revenue generation in the country.

Isaac Wadak noted that the charges …

It is a sad day for Africa and Mozambique as Total SE the French energy company seal its $20 billion liquified natural gas (LNG) project in the security risk country rich in natural gas reserves, according to information from Total.

“Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total, as operator of Mozambique LNG project, to declare force majeure,” Total statement reads in part.

Mozambique as one of the few countries with natural gas reserves has been ravaged by frequent attacks executed by Islamic insurgents in Cabo Delgado province.

READ:Mozambique gas: Amid conflict, harmony gazes at Tanzania 

Various media sources, including Aljazeera, reported that the project has been stopped indefinitely due to an escalation of violence in the areas with LNG projects.

“The …

In Sub Saharan Africa, growth is expected to rebound by 2.3 per cent in 2021 and 3.1 percent in 2022 from a 2.0 percent contraction in 2020 according to a report by World Bank.

The report is dubbed “Covid-19 and the future of work in Africa: Emerging trends in digital technology adoption” by the World Bank.

Rebound in private consumption, industry and services will be supported by continued growth in the agriculture sector, rise in commodity prices due to rising demand for commodities.

This recovery may however be affected by delayed access to covid-19 vaccines and the resurgence of the pandemic.

Private consumption and business investment spending are likely to be affected by restrictions in case of a second wave before vaccines become widely available.

In 2022, growth is expected to rise to 4.1 percent as vaccines rollouts increases across the region, therefore, providing a stronger boost to consumer and …

Tourism and education sectors are the prime areas that the government of Rwanda is looking forward to develop through cooperation with the government of Seychelles , this is according to the newly accredited high commissioner of Rwanda to the Island nation.

Major General Charles Karamba presented his credentials to President Wavel Ramkalawan at State House in the capital city of Victoria.

Speaking today April 27, Charles Karamba said that the two countries enjoy an excellent good relations adding that Rwandan President Paul Kagame was amongst the first to congratulate Seychelles’ head of state when he assumed power six months ago.

The high commissioner who was speaking to the media said that among other key areas of co-operation Tourism was the top most Agenda between the two African Nations.

“Seychelles is highly developed in the tourism industry. Rwanda is doing a great job. There is a lot that we need to …

Barely a month after the tragic and unexpected death of Tanzania’s outspoken and visionary leader Dr. John Magufuli, the country has gone ahead and inked an oil pact with neighbouring Uganda.

The move puts a lid on speculations of how the country’s first woman President Mama Samia Suluhu Hassan will handle duties of the top office. The new president, who was former vice president under the Magufuli regime, sat with her Ugandan counterpart Yoweri Museveni and together shook hands for French Total E&P and China’s CNOOC and signed key agreements for the East African Crude Oil Pipeline (EACOP).…

Few months after taking over the Tanzania’s presidency seat following the Death of the fifth President Dr. John Pombe Magufuli, President Samia Suluhu was in parliament to address the Tanzanian Legislators on his development road-map.

During the address President Samia announced his key areas of focus to achieve the grand development plan for Tanzania’s economic transformation in the next five years, emphasizing empowerment and job creation.

“We intend to focus more on economic growth. We will continue the good work achieved during the previous administrations, change where necessary but with a view to promoting efficiency and productivity, guided by the national, regional and party manifestos,” she said

“Last year, our nation managed to enter the middle-income category where the per capita income increased to $1,080 from $1,036. It is a great achievement, but more effort is needed to accelerate the economy,” she added

Just like any other country , the …

In 2021, it is estimated that 39 million Africans could fall into extreme poverty while in 2020 about 30 million Africans were pushed into extreme poverty as a result of the pandemic, African Development Bank said in its report.

In its African Economic Outlook 2021 report, African Development Bank said that the most affected people are those with lower levels of education, working in informal jobs and those with fewer assets.

According to the report, in order to lift the newly extreme poor to the $1.90 per day poverty line, the monetary cost is estimated at $4.5 billion in 2021 which is about $90.7 million on average per country.

The report noted that women and households headed by females could represent a large proportion of the newly poor. It also said that inequality will increase to the vulnerable groups such as women, youths and low skilled informal workers as they …

Sounding a note of optimism at the European Union-Africa Green Investment Forum on Friday, African Development Bank (www.AfDB.org) President Dr. Akinwumi A. Adesina reminded global audiences of the continent’s vast opportunities for green growth.

“Africa is a huge market offering incredible opportunities. The recovery pathway offers enormous opportunities. Recovery must be green and build climate resilience. Recovery must boost green investments,” Adesina said in a keynote address.

The hybrid forum was convened by Portugal and the European Investment Bank to mobilize private and public capital towards the green transition in Africa. The high-level event brought together leading government and business figures, international and development financial institutions, civil society and academia.

Adesina identified energy, agriculture and infrastructure as key areas of investment potential for a post-Covid-19 recovery in Africa. With abundant solar, wind, hydro and geothermal energy resources, Africa’s energy transition alone presents a $100 billion per year investment opportunity, …

Over a couple of decades, cash and mobile app money transactions such as M-Pesa have dominated the financial space, but with its growth, there is a new collaboration with Fintechs set in place to capture the price-sensitive market with improved innovation and open-loop digital solutions in East Africa.

Financial technology (Fintech) is used to describe new technology that seeks to improve and automate the delivery and use of financial services. ​​​At its core, fintech is utilized to help companies, business owners, and consumers to better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones.

The International President of Ukheshe Technologies Mark Dankworth, firmly believes that the region is poised for a surge in digital banking growth, with the likes of MCQR and virtual cards likely to make the biggest impact.

This follows the Kenyan retail-tech startup, Tanda which …

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