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Nigeria partners with Flutterwave to digitise tax payments, aiming to improve compliance and efficiency while raising concerns about regulatory oversight.
The kwacha’s continuous depreciation highlights ongoing economic pressures worsened by the devastating effects of the El-Niño-induced droughts
The country’s performance was also affected by low investment as spending on long-term assets like buildings and equipment dropped by 7.9%.
The finance minister noted that the Kingdom will issue euro bonds as they better align with its present needs.
The regulator’s decision was also influenced by forecasts of rising inflationary pressures, even as consumer prices held steady at 3.2% in February.
The move aligns with a broader plan to improve efficiency and expand market share in its active markets across the continent.
The contraction of the lender’s balance sheet also led to a notable drop in customer deposits and credit to customers by $300 million and $900 million, respectively.
With inflation holding steady, all eyes are on South Africa’s central bank ahead of its rate decision on Thursday.
The approved budget lowers revenue expectations but increased spending, raising more concerns about the country’s fiscal deficit
The insurers performance was buoyed by higher demand for its general insurance and wealth management products in South Africa.
On a year-on-year basis, headline inflation rate reduced by 8.52% points lower than the rate recorded in February 2024 (31.70%)
The report however predicts slower GDP growth and a weaker rand, raising concerns about the economic trajectory of Africa’s second largest economy.
Fihla’s appointment comes as the bank focuses on rebuilding investor trust following a challenging period marked by leadership instability and financial underperformance.
Hello, African economies have been at the mercy of global credit rating agencies, and any efforts to raise loans is usually met with stringent conditions. That’s why the recent move to create s credit rating agency is super important. What is more important though, is our celebration of African women in Finance. South Sudan’s economy…
The African region’s earnings in local currency increased to 22%, enabling them to contribute 41% to the group’s total headline earnings.
Major winners in the approved reforms include consumers and smaller companies as lawmakers scrap the proposed VAT hike and raise minimum tax threshold for domestic businesses.
South Sudan’s economy faces sharpest decline in years as failing oil revenues slash government income by $7 million daily, worsening inflation, poverty, and fiscal instability according to the World Bank
This would be the second time in two months that the country’s parliamentary parties have rejected the proposed spending plan over tax hikes.
Unlike its economic counterparts, Lagos has a strikingly low tax-to-GDP ratio, exposing a major revenue gap that threatens the fiscal sustainability of Africa’s most populous city.
The new licensing fee structure signals an increase in the cost of banking business as profits may reduce by 3.1% in the next three years.