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A Tax Solution for Nigeria in Under 20 Minutes

South African fintech startup TaxTim has made Nigeria its second international market after partnering with PwC to offer virtual tax assistance to its clients. Founded in 2011 with seed funding from Google by Evan Robinson and Marc Sevitz, TaxTim allows users to file their tax returns online with step-by-step guidance through a chat-based platform, with …

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Somalia’s Bad Debt Written Off

The Paris Club of creditor nations agreed on Tuesday to restructure Somalia’s debt, including immediately canceling $1.4 billion owed by the impoverished Horn of Africa country. Three decades of conflict have left Somalia all but cut off from the global financial system and relief from its debt is expected to open the way for new …

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Africa’s Informal Traders Hit Hardest by Lockdowns

Also called miraa, khat is a wildly popular herbal stimulant in Somalia that is said to increase energy, deepen focus and suppress appetite. The leaf starts to lose its properties the second it is plucked from the branch, and so must be sold quickly, or else its value dissipates. In Africa, it is grown in …

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Locals Get First Dibs on Ethiopia’s Cashless Plans

Ethiopia’s central bank will allow locally-owned non-financial institutions to start offering mobile money services as it seeks to boost non-cash payments in the country. The Horn-of-Africa nation is in the midst of massive economic reforms including the privatization of state-owned telecommunications monopoly Ethio Telecom. The new directive would allow Ethio Telecom, as an Ethiopian-owned company, …

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Developing Uganda’s Fledgling Digital Infrastructure

A new data center, the Raxio Uganda facility, built on the outskirts of the capital Kampala will have access to 1.5MW and marketed as a colocation facility, pitching for Ugandan financial businesses and government agencies. Roha, a US investment group focused on African infrastructure projects, is building a series of data centers in Africa under …

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It May Take Three Years for African Economies to Recover from Slowdown Brought by Pandemic

African finance ministers want International Monetary Fund, World Bank and EU support for bilateral, multilateral and commercial debt relief amid the coronavirus crisis, the UN Economic Commission for Africa (UNECA) said. Africa is facing a perfect storm of an impending global economic downturn, plummeting oil and commodity prices and weaker currencies which threaten to imperil …

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The Business Empire of Africa’s Richest Man is Expanding

Dangote president and CEO Aliko Dangote has been vocal about the need for Nigeria to move away from its dependence on imports. The biggest of many projects on the go for the Dangote Group is the $12bn refinery under construction just outside Lagos in Lekki. The refinery project will create an estimated 1600 permanent jobs …

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The Sobering Impact of COVID-19 on African Trade

Africa may be two to three weeks away from the height of a coronavirus outbreak, but its impact is already wreaking havoc on the production and movement of goods and raw materials in, out and around the continent. To limit the spread of the virus and ease the burden on already fragile health-care systems, governments …

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A Tax Solution for Nigeria in Under 20 Minutes

South African fintech startup TaxTim has made Nigeria its second international market after partnering with PwC to offer virtual tax assistance to its clients. Founded in 2011 with seed funding from Google by Evan Robinson and Marc Sevitz, TaxTim allows users to file their tax returns online with step-by-step guidance through a chat-based platform, with …

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Is Zimbabwe’s Opposition at the Brink of Collapse?

Zimbabwe’s top court upheld the decision of a lower court that Nelson Chamisa was not the legitimate leader of the country’s largest opposition party. Chamisa’s leadership was contested by the Movement for Democratic Change (MDC) party’s vice-president Thokozani Khupe who had claimed she was the legitimate leader to replace Morgan Tsvangirai after his death in February …

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