Ghana Stock Exchange reaches record GH¢80billion market capitalization
In April 2024, the market capitalization of the Ghana Stock Exchange (GSE) surged to an unprecedented GH¢80.20 billion, marking a significant milestone. This remarkable increase was driven by substantial gains in the share prices of various companies, underscoring the positive market sentiment and bolstered investor confidence. As outlined in the GSE’s April 2024 Summary of […]
Côte D’Ivoire Bounces Back
The West African country looks to sustain growth based on rising productivity. Côte d’Ivoire, the world’s top producer of cocoa and third-largest supplier of cashews, enters the new year with optimistic growth expectations. The World Bank projects a GDP growth rate of 6.5% in 2024 and 2025, while the International Monetary Fund (IMF) anticipates similar […]
African Countries Reap Highest-ever Fiscal Benefits from Tax Transparency 2024
Launched on Monday 03, 2024 at the 15th Meeting of the Africa Initiative in Lomé, Togo, Tax Transparency in Africa 2024: Africa Initiative Progress Report shows African countries collected more fiscal revenue through tax transparency, exchange of information and related measures in 2023 than over the 13 preceding years combined. With EUR 2.2 billion of additional revenue reported by 7 African […]
Tax Transparency in Africa 2024: Africa Initiative Progress Report
NEW EDITION PUBLISHED ON 3 JUNE 2024 Tax Transparency in Africa is a key output of the Africa Initiative, a programme established in 2014 to ensure that African countries are equipped to exploit the latest improvements in global transparency, to better tackle tax evasion and other illicit financial flows and ultimately improve domestic resource mobilisation to support their […]
China reinforces African presence with increased mineral investments
China’s flagship economic cooperation program is making a strong comeback after a slowdown during the global pandemic, with a renewed focus on Africa. A Reuters analysis of lending, investment, and trade data shows this resurgence. Chinese leaders have cited the billions of dollars committed to new construction projects and record levels of two-way trade as proof of […]
SML owes GRA GH¢31.88m in taxes – KPMG Report
The full KPMG report released by President Akufo-Addo on Wednesday, May 22, has revealed that Strategic Mobilisation Ghana Limited (SML) is indebted to the Ghana Revenue Authority (GRA) to the tune of GH¢ 31.88 million for unpaid taxes spanning eight months of service provision. This outstanding amount also includes accrued interest, estimated at GH¢ 18.50 […]
Growth opportunities for African fintech abound.
The fintech landscape in Africa is experiencing a surge in growth opportunities, with South Africa emerging as a key player in this dynamic sector. Despite global challenges, venture capital investment in South Africa remained resilient, marking a 6% increase to reach a notable $620 million in 2023. Fintech solutions, particularly those addressing payment challenges, continue […]
Emirates to resume flights to Nigeria from Dubai on Oct. 1
Emirates will resume services to Nigeria from 1 October 2024, operating a daily service between Lagos and Dubai, and offering customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai. The service will be operated using a Boeing 777-300ER. EK783 will depart Dubai at 0945hrs, arriving in Lagos at 1520hrs; the return […]
Cote d’Ivoire joins Arab-Africa Trade Bridges
The Arab Africa Trade Bridges Program (AATB) General Secretariat announced the Republic of Cote d’Ivoire as a new member of the program. This strategic addition marks a significant step towards enhancing trade, economic cooperation, and regional integration between Africa and the Arab world. The AATB program has been very active in promoting economic partnerships between […]
UAE Witnesses 170% Surge in Emiratis Employed in Private Sector Since 2001
According to a TASC poll, the majority of Emiratis, or 73.67 percent, are happy with their current occupations. According to figures released by the Ministry of Human Resources and Human Resources (MoHRE), the number of Emiratis employed in the private sector at the end of 2023 reached approximately 96,000, setting a new historical record. This represents an […]