Browsing: British American Tobacco (BAT)

However, cumulative taxes increased by 2% to a total of sh9.4 billion, which reflects higher exercise duty charges and increased profitability.

The increased tax liability that BAT faces is a result of recent hikes in exercise duty rates, one of which will be a five per cent rise in November 2021.

After a 10% increase in the rate of excise duty took effect in July of 2022, it is anticipated that the impact of the higher duty will continue to have a significant influence on the second half of the year.
The Board of Directors of BAT has approved a proposal to pay an interim dividend of Ksh.5 per share, which would amount to a total pay-out of Ksh.500 million and would be distributed on or around 16 September.

According to a statement released by the BAT Kenya Company Secretary, Kathryne Maundu, “the interim dividend, which will be paid on …

• Zimbabwe Stock Exchange profiles the Agriculture and Exchange Traded Fund indices introduced on April 1, 2022.
• The Introduction of sectoral indices followed the adoption of the Global Industry Classification Standard (GICS).
• The settlement base values for both indices were  placed at 100 but ZSE ETF index back-test to January 1, 2022.

The Zimbabwe Stock Exchange (ZSE) has profiled two more sector indices, the Agriculture and Exchange Traded Fund (ETF) indices. The profiles of the indices are with effect from April 1, 2022. This brings the total number of sectoral indices to ten while total market indices add to fifteen. The Agriculture index, tracks the performance of companies in the agricultural sector. The ETF index is tailor made to measure the trading performance of the three listed ETFs. In separate announcements, the ZSE said that the base value for the two indices was 100, but the ETF index back-test to January …

The US restricted tobacco imports from impoverished Malawi over allegations that workers including children were being exploited.

Although Malawi’s total exports to the United States make up only a small part the US move could make it harder selling its tobacco elsewhere leading to anxiety among farmers who fear they might be forced to accept lower prices.

Tobacco is Malawi’s top crop in terms of employment, 60 per cent foreign exchange earnings and 25 per cent tax revenue any trouble the sector runs into could quickly affect the economy.

Tobacco is already confronted with global anti-tobacco campaigns adding more pressure on the tobacco sector in Malawi.

Its troubles began in late October when the British law firm Leigh Day announced it was preparing a landmark class action case against British American Tobacco (BAT) on behalf of 2,000 Malawian farmers, including hundreds of children, for forced labour and poor wages.

BAT, …