E-commerce site Jumia is no longer in Tanzania. Jumia closed
shop in the country in order to focus operation in other markets. This cuts its
reach to just 12 countries in the continent.
Kenya has signed an international agreement to fight schemes
being used by multinational firms to dodge taxes. The country signed the
Multilateral Convention to Implement Tax Treaty Related Measures to Prevent
Base Erosion and Profit Shifting that will see it collaborate with 90 other
countries to end tax cheating among multinationals.
As the festive season spending gains
momentum, users of Airtel money services have got an additional solution on the
platform to use – international money transfer services. The new service
launched on 14 November and will enable users of Airtel money to send and
receive money from their loved ones living in other countries. It is being
offered in partnership with Stanbic Bank as the partnering financial
institution and has been endorsed by Bank of Uganda.
The United Nations Conference on Trade
and Development says Malawi continues to perform well on tax reforms and
dealing with debt. In its 2019 Least Developed Countries (LDCs) Report, Unctad
said Malawi stands out among nine LDCs in taxation reforms
Ministry of Industry, Trade and Tourism
has urged the Malawi Gaming Board to ensure that they double earnings from
foreign companies operating gaming businesses in the country to reflect the
proceeds they are making
Total SA’s giant Mozambique gas project
will get a USD 400 million loan from the African Development Bank, adding to
its list of backers as the country works to establish a fuel-export industry.
The AfDB joins a global syndicate of commercial banks, development finance
institutions and export credit agencies to provide senior debt financing for
the project.
Jubilee Holdings is splitting its
insurance businesses to increase efficiency and management focus, with the
company creating two new subsidiaries to house medical and general underwriting
business. Operations of the Nairobi Securities Exchange-listed firm has been
run under its fully owned subsidiary Jubilee Insurance Company of Kenya
Limited
