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Somali government introduces 5% sales tax to boost revenues

The Somali government has launched an aggressive tax collection campaign as part of efforts to win billions of dollars in international debt relief. However there are concerns on whether the country’s powerful businessmen pay up. The move has put tax collectors at the heart of a showdown with the country’s most powerful businessmen. But government […]

China tops list of lenders to Kenya

Bill Gates warns Trump: China biggest winner if US – Africa relations dip

Bill Gates, Chief Executive Officer (CEO) of Microsoft and one of the world’s richest men has cautioned the U.S. president Donald John Trump against damaging the country’s relations with Africa. Speaking at the annual World Economic Forum summit in Davos, Switzerland, Gates said the U.S. could lose Africa to China if Trump abandons Africa and […]

Somali government introduces 5% sales tax to boost revenues

Zimbabwe’s president wants Trump golf courses

Zimbabwe’s President Emmerson Mnangagwa Zimbabwe’s new president said on Wednesday he would welcome the US president to build a golf course in his country. “If President Trump came here today when I am still around I would… say: ‘Oh, Mr President, Zimbabwe is open for business’,” President Emmerson Mnangagwa said at the World Economic Forum in Davos. […]

Somali government introduces 5% sales tax to boost revenues

Zimbabwe gets its first billionaire

Telecom tycoon Strive Masiyiwa has become Zimbabwe’s first billionaire. According to a report by Forbes, Masiyiwa, 57, is now worth $1.7 billion, a fortune sufficient to rank him along other African billionaires like Nigeria’s Aliko Dangote. The Forbes 2018 List of the Richest Africans confirmed that Dangote is still the richest man on the continent […]

Somali government introduces 5% sales tax to boost revenues

$600 Million Towards Agricultural Advancement in Africa

Up to $600 million has been set aside to support agricultural research aimed at helping farmers and developing countries to yield better crops. Up to $600 million has been set aside to aid in advancing agriculture among the world’s poorest farmers in Africa and Asia. The Bill & Melinda Gates Foundation has pledged $300 million […]

Somali government introduces 5% sales tax to boost revenues

Amazon CEO Jeff Bezos has already made about $10 billion so far in 2018

Amazon CEO Jeff Bezos, 54, who is currently the world’s richest man, has made $10 billion this year so far, according to the Bloomberg Billionaires Index. Jeff Bezos’ net worth was $99 billion on New Year’s Day 2018. However within one week, his networth had increased to almost $105 billion, making the Amazon founder and CEO […]

Somali government introduces 5% sales tax to boost revenues

Algeria Bans Imports Of Cell Phones, Furniture, Food To Curb Trade Deficit

Algeria has banned the import of 900 products including cell phones, household appliances and vegetables in a bid to cut spending following a drop in earnings from oil and gas, a trade ministry document showed on Tuesday.   The temporary ban, which took effect on Sunday, is the most drastic action undertaken yet by the North African […]

Somali government introduces 5% sales tax to boost revenues

Zimbabwe welcomes China ban on ivory trade

Zimbabwe wildlife authorities have welcomed China’s ban on ivory trade, urging the Chinese government to come up with measures to ensure effective implementation of the ban. China’s ban on the importation, sale and processing of ivory took effect on January 1, bringing an end to what was once the biggest market for ivory. Tom Milliken […]

Somali government introduces 5% sales tax to boost revenues