Browsing: GeoPoll

The largest segment of businesses are financed solely through the founders’ own funds (41 percent),
  • Inflation and high prices are the main factors negatively impacting the businesses of  Micro,Small and Medium Enterprises (MSMEs) in Africa according to the latest data from GeoPoll. 
  • The report indicates that the next biggest impacts include lingering effects of the pandemic.
  • To cope with the impacts of inflation, 36 percent of businesses owners had to chip in their personal savings to support their business.

Inflation and high prices are the main factors negatively impacting the businesses of  Micro, Small and Medium Enterprises (MSMEs) in Africa according to the latest data from GeoPoll.

The data dubbed Africa MSME Pulse Survey conducted in partnership with Africa 118 and The African Talent Company indicates that the next biggest impacts include lingering effects of the pandemic, rising exchange rates and political uncertainty. However, in Ethiopia, the tension in Tigray is creating political uncertainty more than any other factor.

"To cope with the impacts of

The Kenya Revenue Authority (KRA) has received a go-ahead to collect more than Ksh2.7billion (US$26.7 million) worth of monthly taxes on withholding tax on winnings from Sportpesa.This follows a ruling by Milimani Commercial Courts Chief Magistrate, Peter Gesora, allowing KRA to collect withholding taxes on winnings from betting games on the Sportpesa platform among others, that have been failing to withhold tax on winnings.

How Kenya is banning gambling advertising

The Kenyan government has banned outdoor advertisement of gambling as it moves to introduce a raft of new measures to tame growing addiction and expansion of the lucrative multi-billion industry, which has found a strong foothold in Africa.

Advertisement of gambling on all social media platforms has also been banned in Kenya, dealing a blow to gambling firms which have been spending billion—cumulative—on adverts to lure millions into their businesses.

In a notice to betting, lotteries and public gaming license holders dated April 30, the Betting Control and Licensing Board (BCLB) has also banned adverts between 6am and 10pm, which means all adverts on television and radio will run during watershed hours(after 10pm), a move it says is intended to protect consumers from effects of gambling.

“We wish to remind you that gaming is a demerit good and all demerit goods have the potential …