Fiscal Policy
Top stories
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.
Glaring discrepancies in official fiscal data are fuelling fresh doubts about the true scale of Nigeria’s financial woes.
Despite Ethiopia’s budget nominal rise, the budget’s value in US dollars has declined by 30% due to the Birr’s depreciation.
While the IMF praised the West African nation for its efforts to improve tax compliance and reduce reliance on external financing, it noted that these initiatives will have no impact on the ongoing misreporting case that led to the suspension of disbursements.
The African nation has held a sub-investment grade ‘BB-/B’ foreign currency rating since 2020, following years of slow growth, mounting debt, and large-scale bailouts for state-owned enterprises.
In addition to the renewed warrant, the special prosecutor has begun the process of issuing an Interpol red alert for the former minister’s arrest and extradition to Ghana.
FIRS and RMAFC have formed a joint committee to enhance tax revenue monitoring, marking a strategic move toward fiscal transparency and reducing Nigeria’s reliance on volatile oil income
The Mozambican government expects to collect 500 million meticais ( about $7.5 million) in taxes from casinos and gambling activities in 2025.
According to the multilateral lender, Nigeria’s 2024 economic growth was the strongest since 2014, driven by robust fourth-quarter momentum and an improved fiscal position.
Despite the expansion, the fiscal gap falls within the National Treasury’s target of 4.5 percent of GDP—an improvement from the deficits recorded in 2023/24 and 2024/25, which stood at 5.3 percent and 5.1 percent of GDP respectively.
Africa tackles tax evasion in the ride-hailing sector with new policies, balancing growth, innovation, and fair contributions to the economy.
While global commodity markets largely determine cocoa prices, the African nation could raise export taxes on its cocoa shipments to increase revenue, pushing up costs for buyers.
Non-oil exports from Africa to the U.S. have grown 241% since 2001. That growth is now in danger. Tariffs of 21% on cocoa and 54% on textiles could wipe out years of trade progress under AGOA.
South Africa’s planned VAT increase in 2025-2026 may affect businesses and consumers, with potential impacts on pricing, demand, and investment.
Despite overcoming two major parliamentary hurdles, the budget remains at an impasse as tensions between the country’s biggest political parties escalate
In this special report, we examine the top 10 African countries targeted by the Trump administration’s new “reciprocal tariffs” and compare the claimed rates to the actual WTO-verified tariffs — both simple and trade-weighted.
Trump’s new tariff structure, set to take effect on April 9, will hit over 50 African countries—targeting some of the continent’s poorest and most vulnerable economies. The sweeping levies threaten to shake the foundations of long-standing US-Africa trade agreements.
New withholding tax rules will make companies handle tax deductions differently, impacting compliance and business operations.