Uganda sends delegation to mend trade ties with the U.S.

Uganda has sent a government delegation to the US to try and salvage trade relations between the two nations. Isabel Nakirya reports that the US has threatened to end trade ties with Uganda after the country enacted an anti-gay law in May this year.

December 13, 2023 28

Business / Economics

Competition Commission investigates merger violations

The Namibian Competition Commission says there are a few cases that they are currently investigating. In addition, 10 cases of contravention of merger regulations are under investigation and the mergers division is monitoring a further 37 cases. Meanwhile, in respect to anti-competitive conduct, the Commission during 2023, handled 19 investigations, of which six have been completed. Here is the Director of Enforcement and Cartels Division at NaCC, Paulus Hangula with […]

December 13, 2023 15

Business / Economics

Airbnb agrees 576-mn-euro deal in Italy tax dispute

Short-term rental platform Airbnb said Wednesday it has agreed to pay Italy's tax agency 576 million euros ($621 million) following allegations of tax evasion. Italy's financial police seized over 779 million euros from the online accommodation service last month on the order of Milan prosecutors, who accused the site of having failed to collect a rental income tax from landlords in the period from 2017 to 2021. "Airbnb Ireland has […]

December 13, 2023 30

Business / Economics

Scramble in SA crypto market ahead of licensing round

By Conrad Onyango, bird story agency South Africa is witnessing an expansion in cryptocurrency offerings as the country gets closer to issuing its first operational licenses to financial service providers. Payment firms and fintech companies are driving the move, with commercial banks expected to follow suit. One of the latest offerings enables users to purchase goods and services using cryptocurrency, while another allows them to withdraw digital currency as cash […]

December 13, 2023 9

Business / Economics

The Alexforbes Lead Story – 12 December

The Namibian Association of Medical Aid Funds recently announced that medical aid tariffs for 2024 would remain unchanged from those of 2023, a move the Namibia Private Practitioners Forum says essentially means a reduction in benefits for fund members. Representative Eben De Klerk tells us more. https://iono.fm/e/1389719

December 13, 2023 874

Africa

Zimbabwe’s Mthuli Ncube wins Best Finance Minister award

Zimbabwe’s Finance minister Mthuli Ncube has been awarded the title of Best African Finance Minister of the Year by Reputation Poll International. The BBC reports that Ncube expressed gratitude for the award, saying it acknowledges the efforts of his ministry and the Treasury team in spearheading the transformation of the economy. Despite ongoing economic challenges, including an estimated 85% unemployment rate, the award was met with criticism from Zimbabwean activist […]

December 12, 2023 58

Business / Economics

Industrialisation and Trade Ministry to conduct public consultations on key economic initiatives

The Ministry of Industrialisation and Trade is set to conduct public consultations on various initiatives, including the Special Economic Zone Bill, National Informal Economy, Startups and Entrepreneurship Development Policy, Namibia Investment Promotion and Facilitation Regulations, and the National Cooling Strategy. Here is Elijah Mukubonda, the Ministry's spokesperson with more details.

December 12, 2023 27

Business / Economics

Namibia’s inflation to ease in 2024

Namibia's inflation is expected to moderate in 2024, continuing a trend of slowing inflation rates. Simonis Storm Securities projections suggest a potential easing to 5.1%, indicating a positive step towards economic equilibrium. The stockbroker and wealth management company notes a steady decrease in inflation rates, fostering a stable environment for businesses and consumers.

December 12, 2023 10

Africa

Uganda will soon be exporting oil: an energy economist outlines 3 keys to success

By Micah Lucy Abigaba, Makerere University Uganda entered into agreements in 2012 with two foreign oil entities to exploit its oil resources. Total Energies holds 56.67% of the joint venture partnership and China National Oil Offshore Company (CNOOC) has 28.33%. Through Uganda National Oil Company, the government owns the remaining 15%. Production is due to start in 2025. As part of the production sharing agreement, the production licences are valid […]

December 12, 2023 10