News | - Part 61

Malawi takes key step to advance digital payments and drive inclusive growth

LILONGWE, Malawi, April 30, 2015/ — Today, Malawi took a significant step towards creating a digital payment ecosystem in order to address poverty and drive inclusive growth. An event organized by the Government of Malawi with the United Nations Capital Development Fund’s (UNCDF) Better Than Cash Alliance (http://www.betterthancash.org) and Mobile Money for the Poor initiatives brought together digital payments players to accelerate the progress of digital finance in Malawi. The convening also marks the release…

Equatorial Guinea agrees multiple investments with Chinese companies

Posted on by The Editorial Team

During a historic visit to China the Government of Equatorial Guinea, represented by the Ministry of Mines, Industry and Energy , has announced the signing of multiple memorandum of understanding on April 30 with Chinese companies covering large areas of cooperation in the electricity and industrial sectors. The agreements were made during the Equatorial Guinea-Asia Economic Forum, hosted by the Government of Equatorial Guinea at the Shangri-La Hotel, in Dalian. The economic forum was organized…

Tanzanian finmin says shilling to stabilise on loan inflows

Posted on by The Editorial Team

DAR ES SALAAM (Reuters) – Tanzania’s shilling is expected to stabilise in the next few days after it broke through a series of record lows against the dollar, the finance minister said. The shilling has lost 15 percent of its value against the greenback this year, mainly due to a firmer dollar and lower prices of gold in global markets. The currency of east Africa’s second largest economy traded the shilling at 1,988/1,998 per dollar…

BRVM Investment Days: West Africa’s financial centre comes closer to the London Stock Exchange

Posted on by The Editorial Team

LONDON, United-Kingdom, April 29, 2015/ — On the occasion of the second edition of the BRVM Investment days, the regional stock exchange for the eight countries of the West African Economic and Monetary Union (WAEMU) and many West-African companies have met investors from the London Stock Exchange. The regional stock exchange Bourse Régionale des Valeurs Mobilières (BRVM) welcomes the success of the second edition of its BRVM Investment days, held on April 28 at the…

Egyptian investors turn to courts to abolish tax on capital gains, dividends

Posted on by The Editorial Team

CAIRO (Reuters) – Egyptian investors challenged the government in court on Tuesday over a tax on stock dividends and capital gains, saying it is causing confusion and hampering investment. Traders say the market still doesn’t understand how the tax will be calculated or collected, adding to uncertainty aroused by an indefinite delay to parliamentary elections. The stock market hit a four-month low in early trade. The head of the Egyptian stock exchange complained the tax…

Ethiopia predicts record $1.5B foreign direct investment in 2015

Posted on by The Editorial Team

Addis Ababa, Ethiopia (Capital Markets in Africa):- Foreign direct investment into Ethiopia will reach a record $1.5bn this year, on the back of successful efforts by the fast-growing and populous African country to attract overseas manufacturing companies. Only seven years ago, the country with a population of 94m drew only $108.5m in inward investments from overseas. But it has been growing at double-digit rates, thanks to increased relocation of factories, attracted by low wages, cheap…

Zimbabwe beats Q1 tax target but company tax, mining royalties fall

Posted on by The Editorial Team

HARARE (Reuters) – Zimbabwe’s tax collections were five percent above target at $897 million during the first quarter of this year but revenue from companies and mining royalties fell, the head of the national tax agency said on Sunday. Zimbabwe finances its entire budget from taxes because lenders like the International Monetary Fund (IMF) and World Bank have said they will only resume lending to the country once it clears its debts with the global…

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