Nigerians will start paying a new 7.5 per cent Value Added Tax (VAT) on products as part of over 90 changes to 7 tax laws as the newly signed Finance Bill becomes law. Meanwhile, as Nigeria’s Economic Recovery Growth Plan winds down this year, local papers say a new plan is underway. Nonso Obikili, Director of Turgot Centre for Economics and Policy Research joins CNBC Africa from Abuja for more.
The months between May and August, and again in December, are often referred to in Rwanda as “Wedding Season”; a time when tens if not hundreds of couples take advantage of the good weather and visiting family members to have their wedding ceremonies. CNBC Africa spoke to Co-Founder of Tamiim Beauty, Ivan Mugemanyi for more.
Following the approval of President Buhari’s $5.5 billion loan request by Nigerian lawmakers, Steve Osho, Managing Director of Comercio Partners Capital joins CNBC Africa to assess Nigeria's debt strategy as the country braces up to the COVID-19 shock.
Nigeria has launched its first licensing round for marginal oilfields in nearly 20 years, according to the Department of Petroleum Resources. The bid process from announcement to the execution of relevant agreements is expected to last about 6 months. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 law joins CNBC Africa for more.
Nigeria’s National Assembly has approved the $5.5 billion external loan request of the executive arm of government to fund the country's budget deficit. While addressing the revised Medium Term Expenditure Framework and Fiscal Strategy Paper, the lawmakers raised the oil price benchmark to $28 per barrel from the $25. Dayo Amzat, Managing Director and CEO of Zedcrest Capital joins CNBC Africa for more.
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The tide facing Oceana’s first half profits remained constant, with the fishing group recording flat headline earnings per share of 249.8 cents. The strong showing from its African operations was offset by lower fish oil sales and profit from US based Daybrooke. The closure of the Chinese market for live lobster following the Covid-19 outbreak also weighed on results. Oceana CEO, Imraan Soomra joins CNBC Africa for more.
Nobel Prize-winning economist Joseph Stiglitz says U.S. government stimulus programs have failed to help the most vulnerable workers and companies during the coronavirus pandemic. He discusses longer-term challenges facing the U.S. economy and educat
Despite the uncertainties of the Covid-19 pandemic, now could be the best time for global investors underweight exposure to Africa to raise their stakes on the continent, says investment management firm, Adventis. The firm argues that the prospects for investment returns in Africa remain high. Joseph Rohm, MD and Fund Manager at Adventis joins CNBC Africa for more.
Minister in the Presidency Jackson Mthembu said government will challenge a court ruling that found lock-down level 3 and 4 regulations unconstitutional.
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“Travel bans and containment measures around the world are having a devastating effect on the tourism sector in Mauritius, which was already experiencing sluggish growth in 2019,” writes economist, Shani Smit.
One is left stunned and bewildered that the leader, supposedly of the free world, only interest and concern is for the police to turn on its people, when what is needed and required, is leadership, compassion, understanding, empathy and solidarity at a time of multiple distress, pain and anguish.
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