Features

LONDON (Capital Markets in Africa) — The U.K is calling for new business tax reporting requirements and changes to how rental properties are taxed among dozens of new proposals announced on Tuesday. The proposals, through a series of consultations and policy papers released during the government’s so-called tax day, comes more than two weeks after Chancellor of the Exchequer Rishi Sunak announced plans to raise corporate taxes as part of the government’s spring budget. Among the new…

LONDON (Capital Markets in Africa) — After enduring months of public criticism, AstraZeneca Plcfinally caught a moment of reprieve for its Covid-19 vaccine this week when U.S. trial data showed the shot to be highly effective, working well in the elderly, and raising no safety concerns. The good news lasted less than a day. A group of experts meant to work hand in hand with the drugmaker on its trial safety contacted U.S. government agencies…

LAGOS (Capital Markets in Africa) — Two Democratic senators backed off a threat to vote against all of Joe Biden nominees who are White and heterosexual after they received assurances that his administration would bolster its efforts to select Asian-American or Pacific Islander candidates. Tammy Duckworth of Illinois was joined in the initial pledge by Senator Mazie Hirono, a Hawaii Democrat. The loss of their votes could jeopardize the confirmation of Biden nominees in an evenly divided…

LAGOS (Capital Markets in Africa) — Nigeria is considering ways to cushion the impact of fuel-subsidy cuts as it weighs the possibility that the reform may stoke popular discontent, an adviser to the nation’s president said. While those policies are being formulated, the state is continuing interventions that it says cost an estimated 744 billion naira ($1.8 billion) a year from 2006 to 2019 to maintain lower gasoline prices. That’s equivalent to about 10% of…

LUANDA (Capital Markets in Africa) — Angola can expect interest from Gemcorp Capital LLP, a firm already invested in the nation’s energy sector when it offers a potential 30% stake in oil company Sonangol EP. Under President Joao Lourenco, one of Africa’s biggest oil-producing nations has implemented reforms in recent years to draw investment and mitigate a decline in output. The process is at an early stage, but Sonangol has estimated the value of the stake…