Rising payroll taxes in Kenya and the details of the Producer Price Index for businesses reflect an employment recovery in the country. Although this is good news for banking activity, some businessmen are cautious about the future. Various indicators suggest that jobs will continue to grow in Kenya through Q3 2021. According to the Kenya Revenue Authority, payroll taxes or PAYE (Pay As You...

The African Development Bank Group, on 11 October 2021, announces the 36-month debarment of Sino-Kenya Engineering Group Company Limited and Mr. Yuehua Bai, its Managing Director, with effect from 19 August 2021. Sino-Kenya Engineering Group Company Limited is a limited liability company registered under the laws of the Republic of Kenya. An investigation conducted by the Bank’s Office of...

In a gloomy economic context marked by covid-19, the Ivorian government is continuing its tax mobilization plan to support the state budget. The target set for the third quarter of this year has been largely exceeded.   Between July and September this year, the Ivorian General Directorate of Taxes (DGI) has collected $1.3 billion (CFA743.6 billion) in tax revenue. "Our initial tax...

On a visit to Abu Dhabi, the capital of the United Arab Emirates, President Felix Tshisekedi is holding a series of meetings with Emirati partners to attract more investment to the DRC. Targeted sectors include energy, mining, infrastructure, and security. DR Congo's President, Felix Tshisekedi, has secured an investment of $1 billion in addition to 30 tactical armored military vehicles...

'The Global System Operators' Association (GSMA) estimates that telecom operators will invest $45.2 billion in the mobile network in sub-Saharan Africa by 2025. Mobile penetration over the period is expected to increase from 46% currently to 50% and the number of subscribers will go from 495 million to 615 million as a result of growing demand for telecom services. In its “The Mobile...

The International Finance Corporation ranks Côte d'Ivoire among the top 10 African countries with high economic potential in leasing markets. The Ivorian government signed a deal with the institution to tap into this potential to improve access to finance for SMEs. Côte d'Ivoire has just signed an agreement with the International Finance Corporation (IFC) to improve financing for SMEs. The...

The King of Morocco Mohammed VI named a new government and presented the new development guidelines for the next 5 years. The 3-axis roadmap was unveiled on the sidelines of the 11th legislature’s parliamentary session. The first point concerns the country’s sovereignty and is aimed at consolidating its position as a regional engine of growth. While talking about the security of strategic...

The African Development Bank Group’s Board of Directors has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project. The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho. The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by...

The Board of Directors of the African Development Fund approved on Wednesday in Abidjan, a grant of US $ 10.7 million to São Tomé and Príncipe for the implementation of the first phase of the Zuntámon Initiative, within the framework of the Lusophone Compact. The project aims to improve the business environment by removing specific bottlenecks that hinder private sector-led growth. The...

The African Development Bank has welcomed $150 million investment in its Desert to Power G5 Financing Facility from the Green Climate Fund (GCF). The GCF approved the amount at its 30th Board meeting this week. Desert-to-Power is a flagship renewable energy and economic development initiative led by the African Development Bank. Its objective is to light up and power the Sahel region by...