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EU to Rubber-Stamp Tax Blacklist as It Takes on Tech Giants

LONDON (Capital Markets in Africa) – The European Union is set to agree on a blacklist of tax havens that could potentially face sanctions for failing to bring their standards in line with the bloc, as it seeks to further step up its fight against opaque practices that facilitate avoidance by multinationals and individuals. The group of jurisdictions is set to be rubber stamped by EU finance ministers at a meeting in Brussels on Tuesday. According to a…

JPMorgan Is No Match for Google in One Analyst’s Fintech Ranking

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – No banking titan is better prepared than JPMorgan Chase & Co. to roll out new financial technologies — but even its innovation pales alongside Silicon Valley’s, according to a report by Autonomous Research. Big financial firms including Bank of America Corp., Barclays Plc, Wells Fargo & Co. and UBS Group AG are “soberingly behind actual tech companies” in showing they’re embracing advances that power fintech, the study found. Alphabet Inc.’s Google, Facebook Inc. and…

Google to Ramp Up Africa Investment With Fiber, Cheaper Phones

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Google Inc. is scaling up investment in Africa by laying fiber optic cable, easing access to cheaper Android phones and training a workforce in digital skills as the U.S. technology giant seeks to expand on the continent. “We laid about 1,000 kilometers (621 miles) of fiber in Uganda and we are busy doing about 1,000 kilometers in Ghana,’’ Google’s South Africa head Luke McKend said in a phone interview. “We…