Fiscal Policy
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The advance payment requirement comes alongside sweeping reforms to Ethiopia’s tax framework, following the passing of the Income Tax (Amendment) Proclamation on July 17, 2025.
On August 5, 2025, President Bola Tinubu signed the Nigerian Insurance Industry Reform Bill into law, marking a significant overhaul of the sector in more than two decades.
The signing ends a protracted standoff between policymakers—one not only jeopardised a critical fiscal support package but opened a $734 million hole in the 2024/25 budget.
Zambian authorities say the extension will help entrench macroeconomic stability and support the continuation of economic reforms into 2026.
This comes as the West African nation repays a $700 million Eurobound debt as part of a sweeping debt restructuring programme that has helped cut the country’s public debt ratio to Gross Domestic Product to 43.8%
The IMF, which expanded Egypt’s original loan package to $8 billion last year, has made it clear that raising more revenue is a key priority.
Despite growing concerns around Senegal’s debt burden, the latest issuance was oversubscribed by over 21%, with the finance ministry attributing the interest to renewed investor confidence in the country’s economic trajectory.
The downgrade marks the lowest rating assigned to the western African nation since the agency began assessing the country in 2000 and the second downgrade in five months.
The debt projection shows a sharp increase from the $98 billion reported at the end of March by the Debt Management Office and highlights the mounting fiscal risks from underperforming oil revenue.
The tax reforms also provide a dividend withholding tax exemption for NIFC-certified firms that reinvest at least $1.9 million (KES 250 million) of their annual earnings into the Kenyan economy.
The International Monetary Fund (IMF) has commended President Bola Tinubu’s tax reform bills, describing them as a significant step towards boosting revenue mobilisation and creating fiscal space for development spending while maintaining debt sustainability.
As a fallback plan, Pretoria is willing to accept a maximum tariff of 10% if exemptions are not granted, its trade ministry revealed.
Nigeria has introduced tax reforms that scrap three key taxes for small businesses but tripled the capital gains tax (CGT) rate for corporations.
Nigeria has taken a bold step toward overhauling its tax system. So, what exactly has changed—and what does it mean for employees, companies and investors?
President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeria’s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…
While the deal marks a major step towards stabilising the economy, the West African country still faces a tough road ahead as it seeks to persuade private lenders to rework their share of the debt.
The sharp rise in debt costs coincides with a 71.5% drop in external grant in Q1 2025, reflecting growing difficulties in attracting budget support from international partners.
Fitch has raised Ghana’s credit rating to “B-” from default, citing progress in debt restructuring, easing inflation, and external account surpluses.
The trade deal with Ghana comes just a day after China announced plans to remove tariffs for all 53 African countries with which it has diplomatic ties—excluding Eswatini because of to its support for Taiwan
The $7.3 billion tax revenue target comes amid plans by the Ethiopian government to introduce a series of new tax measures including a 15% VAT, a 15% excise duty on fuel and a higher circulation tax on vehicles.