11/14/2023
Duty-free goods cost KRA Sh30bn foregone tax
In 2021, the government did not collect IDL valued at Sh1.6 billion.
Regulation,Tax & Compliance
11/13/2023
Audit backs rule on quality checks per product small traders import
The Kebs rules require that each imported product be subjected to inspection although consolidated cargo poses difficulty in having each product subjected to verification owing to frequent mis-declaration.
11/10/2023
Interest on November bond rises to record 17.9pc as bids hit Sh89 billion
This is as investors put in bids of Sh88.8 billion against the target of Sh50 billion in the auction which closed on Wednesday.
11/10/2023
Higher tax for traders without digital ETRs
The Kenya Revenue Authority this week said that non-compliant businesses will be blocked from subtracting expenses from revenue that are subjected to taxation.
11/10/2023
Investec, Verto sign API deal for cross-border transactions
The company recently acquired a licence to operate in South Africa from the Financial Sector Conduct Authority.
11/09/2023
Eskom pushes ahead with major grid access changes
During a presentation to stakeholders, Eskom said that it made progress in processing the backlog of grid connection applications in terms of the IGCAR.
11/09/2023
Old banknote remains legal tender, says CBN
It was titled, ‘All Banknotes Issued by the CBN Remain Legal Tender.’
11/09/2023
This ‘tax alternative’ could end the fuel levy and cut petrol prices in South Africa
“While we understand that we are a cash-strapped nation, we can no longer afford to burden society with higher taxes and levies applied to the price of fuel,” said Wayne Duvenage, Outa’s chief executive.
11/09/2023
Bank dividend yields rise to double digits amid bear run
The listed lender raised its dividend payout from Sh19 to Sh22 in the year to December 2022.
11/08/2023
Kenya wins bid to lead Africa’s push to cut dollar dominance
These figures are based on estimates by Accra-based African Continental Free Trade Area (AfCFTA) secretariat.
11/08/2023
CMA tightens rules to check directors and stockbrokers
The 2023 Capital Markets (Conduct of Business) (Market Intermediaries) Regulations further adjudicate on the standard of conduct by market intermediaries
11/08/2023
Warning over Eskom debt bailout – new rules, new problems
Amidst the utility’s dire financial performance, Godongwana announced in the February Budget that R254 billion would be given to Eskom as debt relief over the medium term.
11/07/2023
Rand could be heading to under R18 to the dollar
This tightening of financial conditions adds to the expectations that the US has seen its last interest rate hike, weighing on the greenback.
11/07/2023
AfDB provides over $102m for Ghana’s economic recovery plan
Finance Minister Ken Ofori-Atta is expected to present the country’s 2024 budget statement next week, November 15.
11/07/2023
Drop in shilling inflates Kenya’s AU subscription fees
All payments made to international bodies are centralised at the National Treasury, with ministries forwarding invoices for their subscriptions.
11/07/2023
Money laundering threatens Ghana’s real estate sector, say industry players
In Ghana, the lack of a regulatory body to manage the real estate industry has stifled the formal establishment of the sector over the past decade.
11/03/2023
Big changes for remote workers earning in dollars and pounds in South Africa
Commentators pointed out that this requirement would be administratively cumbersome and potentially unenforceable.
11/03/2023
Ramaphosa: Hands off the Reserve Bank – for now
Responding to questions in Parliament this week, the president said that the Reserve Bank’s mandate is set out in section 224 of the Constitution, and it is successfully pursuing it.
11/02/2023
South Africa is at huge risk
Revenue collections have also underperformed significantly, with tax coming in close to R57 billion lower than anticipated.
11/02/2023
Tinubu seeks Senate’s approval for fresh $7.8bn, €100m loans
“The total facility of the projects and programmes under the borrowing plan is 7,864,508,559 dollars and then in Euro, 100 million euros respectively.”