The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
African Development Bank Plans $67bn Investment Deals for…
The African Development Bank has disclosed plans to target projects valued at $67bn with deal makers at its flagship investment conference this week. According to AfDB President, Akinwumi Adesina, who spoke with journalists in Johannesburg,…
Twin fires ravage busy market in Nigeria’s commercial…
Nigerian firefighters were battling two fires that broke out almost simultaneously Tuesday at a busy market in central Lagos, the country’s largest city and commercial center. Balogun Market, where the fires erupted, is one of…
Zimbabwe Dollar Firms Against The USD In October
The Zimbabwe dollar has shown signs of stability in October, with the local currency shedding 3.1 per cent of its value against the greenback on the interbank market. As of September 30, 2019, the official…
Nigeria’s borders closed to trade until January 2020
Nigeria said on Sunday its borders would remain closed to trade until at least January 31, 2020. Nigeria launched a partial border closure in August to tackle smuggling of rice and other goods. Last month…
Trump cancels trade deal with Cameroon over rights…
US President Donald Trump has indicated his intention to terminate the designation of the Republic of Cameroon (Cameroon) as a beneficiary sub-Saharan African country under the African Growth and Opportunity Act (AGOA). In a letter…
South Africa’s credit rating close to junk status
Ratings agency Moody’s followed S&P Global and Fitch in spelling bad news for Africa’s second biggest economy, South Africa, now facing a slowdown in economic growth and rising debt burden. The rating agency moved South…
RBZ Working On Stabilising Exchange Rate: Mangudya
The Reserve Bank of Zimbabwe (RBZ) governor John Mangudya said that the central bank will inject more liquidity on the interbank market to stabilise the exchange rate and ensure efficient forex allocation through the market.…
Ghanian President, Akufo-Addo Reveals What Closure Of Nigerian…
Ghana President, Nana Addo Dankwa Akufo-Addo on Tuesday said the closure of the land border between Nigeria and the Republic of Benin was a big blow to regional integration. Akufo-Addo who made this known at…
Tanzanian billionaire Dewji explains why he asked kidnappers…
Tanzanian billionaire Mohammed Dewji, who was kidnapped and held for 10 days in October last year, says he was ready to die, having been disoriented by his captivity. 43-year-old Dewji, who is widely considered to…
Rwanda pilots VW’s electric cars as eGolf model…
Volkswagen is importing a batch of electric powered Golf models into Rwanda for a local ride-hailing service, establishing a bridgehead in the country that it hopes to expand to other nations as it seeks to…
RBZ To Introduce New Zimbabwe Dollar Notes &…
The governor of the Reserve Bank of Zimbabwe, Dr JohnPanonetsa Manguta announced this Tuesday that the central bank will introduce some notes and coins in the Zimbabwe dollar currency in the next two weeks. The…
“African countries not being led into debt trap”…
President Cyril Ramaphosa on Monday refuted allegations that a number of countries in Africa are being led into a debt trap as they take up loans to fund a number of projects. Ramaphosa said in…
Business: Gucci’s astronomical sales are coming back to…
After a two-year streak of astronomical sales growth, Gucci’s latest figures show it growing at a more earthly rate. The luxury Italian brand grew 13.3% in the most recent quarter, compared to 34.9% in the…
Zimbabwe threatens disconnections to recover $77m power debt
Zimbabwe’s state-owned electricity distributor, grappling with drought and ageing equipment, said on Thursday it will disconnect mines, farms and other users as it looks to recover $77 million in unpaid bills. The southern African nation…
“Kenya Has More to do to Attract Investors”…
Deputy President William Ruto has said Kenya has to do more to make it a preferred gateway to Africa for investors. He said the country must adopt a radical and progressive stance in reforming the…
Nigeriens Groan as Nigeria’s Border Closure Hits Hard
Along with Benin, Niger, which shares a 1,500-kilometre (900-mile) border with Nigeria, has been badly hit by the closure of Nigeria’s border. A long line of lorries from Niger and elsewhere in West Africa is…
Uhuru’s Stadia Pledge a Cash Cow for Cartels,…
President Uhuru Kenyatta's promise that each of the 47 counties will have a state-of-the-art sports stadium remains just a promise. Documents tabled in Parliament on Tuesday painted a picture of abandoned projects with cartels taking…
Finance Minister Speaks On The 2% Transaction Tax
Finance Minister, Professor Mthuli Ncube has said that the two percent transaction tax will not be removed despite stakeholders including the Zimbabwe National Chamber of Commerce expressed concern over the tax. Ncube told Zimpapers Television…
