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Under the Nigeria Tax Administration Act (NTAA), the use of a Tax Identification Number (Tax ID) will be mandatory for a range of activities, from banking to business registration, beginning January 1, 2026.
Business activity across Nigeria, Kenya, South Africa, Egypt, Uganda, Zambia, and Ghana moved on diverging paths in August, according to the latest S&P Global Purchasing Managers’ Index (PMI).
President Mahama of Ghana’s move to scrap barriers to foreign investors is a clear bid to open up the state after more than a decade of the Investment Promotion Act, which curbed inflows into the country.
According to DealMakers Africa, rising global interest rates, a strong US dollar, and geopolitical tensions drove international capital toward safer, higher-yielding markets, leaving African deals in retreat.
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Other highlights
Nigeria’s open rails turned cashless payments into a trillion-naira success. Card exclusivity now risks undoing the gains, raising costs and stifling competition.
NGX slipped 0.94% as value rose 5.7% on selective big-ticket trades. Breadth stayed weak, but Thursday’s broad rally and financials’ heavy volumes set the tone for a tactical week ahead.
Ethiopia’s long-awaited stock market, the Ethiopian Securities Exchange (ESX), has begun to take shape after decades without a modern capital market. Officially launched on January 10, 2025, the exchange is central to the country’s financial liberalisation drive.
Rand-driven cost relief gave firms much-needed breathing space, but tepid demand and renewed job losses show that momentum remains uneven.
