Business

Business: Progress in Africa’s fight against tax evasion

Last updated on September 11th, 2021 at 02:39 pm

African countries have made “significant” progress in reaffirming their commitments and building their capacity to achieve tax transparency.

This is the main conclusion of the recent report on “Tax Transparency in Africa” of the Africa Initiative, which shows that the five African countries committed to fighting these phenomena have recorded almost $12 million in additional revenue, and eight countries on the continent have collected $189 million in additional revenue between 2014 and 2019”.

Somali economy weakened by COVID-19

Hundreds of companies dangerously impacted by Covid-19 are on the verge of bankruptcy.

The Somali economy is being hit hard by the coronavirus pandemic that is affecting the entire world. From SMEs to large companies, everything is affected, and even the fast-growing aviation sector is all in the red.

However, the country can rely on the cancellation of part of its debt and the approval of several IMF economic programmes to boost its economy.

(AFP)

Albert Echetah

Recent Posts

South African Group Petitions For Chidimma Adetshina’s Removal FromInternational Miss Universe Pageant Over Identity Fraud Allegations

A group called Progressive Forces in South Africa has launched a petition against MissUniverse Nigeria Chidimma Adetshina, with the aim…

November 5, 2024

Mauritius Reopens Social MediaAccess in Response to PublicPressure

Mauritius on Saturday overruled its decision to prohibit social media until the election onNovember 10th which was caused by a…

November 5, 2024

UAE Crown Prince Arrives in Ethiopia for WorldWithout Hunger Conference

The UAE’s Crown Prince of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed AlNahyan was in Addis Ababa…

November 5, 2024

Zimbabwe’s rich (Mbingas) linked to state looting

Gilbert Machokoto, a former teacher, said that setting up a business in the late 1980s, shortlyafter Zimbabwe's independence, was ‘like…

November 4, 2024

Historic Shift in Botswana as PresidentConcedes to Opposition Victory

Following elections in which the party that had ruled the diamond-rich nation for almost 60years suffered a historic setback. Botswana's…

November 4, 2024

Lightning Strike at Uganda Refugee CampClaims 14 Lives, Including Children

A lightning strike at a refugee camp in Uganda kills 14 people including children with 34 othershospitalized. The incident happened…

November 4, 2024

This website uses cookies.