Browsing: the World Bank Group

Empowering SMEs: AfCFTA Unleashes Boundless Opportunities

The African Continental Free Trade Area (AfCFTA) has presented a distinctive opportunity to bolster economic growth, alleviate poverty, and decrease Africa's reliance on volatile commodity cycles. According to a World Bank report from 2020, the AfCFTA can increase the continent's income by 7 per cent by 2035 and elevate around 40 million individuals out of extreme poverty. This positive impact is primarily attributed to the stimulation of intraregional trade, termed the "AfCFTA trade scenario" for this analysis.…

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The World Bank is getting a new president, potentially it will be the United States nominated Ajay Banga who for his first global tour, chose to visit Africa first, what does that maiden tour mean for the continent? Photo/Bloomberg
  • US World Bank President nominee Ajay Banga chooses Africa for his first tour
  • AfDB president Dr. Akinwumi Adesina calls for a new measure of economic growth
  • AfDB launches Adesina Africa Industrialization Index (AII)

The World Bank is getting a new president and it will be likely US-nominee Ajay Banga who for his first global tour, chose to visit Africa. What does this maiden tour mean for the continent?

Back in February, US President Joe Biden announced Ajay Banga as the United States’ nominee for President of the World Bank Group. Should he be approved, Ajay Banga will be replacing the incumbent president, David Malpass, whose term ends in June.

Among his first moves on his way to the top office in the world’s largest financial institution, Banga, is making a strategic visit to Africa.

For the first stop of his World tour, Mr. Banga flew to Abidjan Côte d’Ivoire on …

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The Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum), the World Bank Group and the African Development Bank (www.AfDB.org) have jointly published a new version of the Manual on Exchange of Information (https://bit.ly/3CovIgS), in order to support tax authorities.

Exchange of information (EOI) is an essential tool for tax authorities worldwide to ensure that all taxpayers pay the correct amount of tax.

The previous edition of the manual, issued in 2013 by the Global Forum and the World Bank Group, was dedicated to exchange of information on request and spontaneous exchange of information. This new edition covers a broader range of exchange-of-information tools, such as tax examinations allowing two or more jurisdictions to conduct simultaneous audits of person(s) of common or complementary interest, or tax examinations abroad to collect information in a foreign jurisdiction.

World Bank, AfDB, Global Forum Unleash New EOI Manual To Support Taxation Worldwide – Arise News

The manual can easily be tailored to …