American transportation service provider Uber would now have to pay value-added tax to continue its operations in Egypt, Abdel Azeem Hussein, head of the tax administration announced on 18, February 2019.   According to information reported by Reuters, the new measure should affect other companies in the same line of operations in the country. This should ease tensions between the American...

Tunisia’s economy grew by 2.5% in 2018, against 1.9% in 2017, according to figures published on February 15, 2019, by the national institute for statistics. In Q4, 2018, the country’s GDP rose by 2.2% on a year on year basis and by 0.2% compared with the Q3, 2018 performance, the same source informed. The 2018 performance is mainly due to the agriculture sector, whose added value increased...

In Tanzania, Vodacom, Airtel, Tigo, and TTCL have been ordered to supply sim and recharge cards to rural areas within thirty days or incur financial and administrative sanctions.   This was ordered by Atashasta Nditiye, the country’s deputy minister of transports and communications, who explained that he has received numerous complaints from communities that are unable to access telecom...

Nigerian Breweries, 56% owned by international brewery group Heineken, is to be monitored this week on the Nigerian stock exchange. The company ended this week with a 3.75% rise on the exchange but it later published a not so positive 2018 results.   Its turnover that year was NGN350.3 billion ($960 million), representing a 4.1% decrease compared with the 2017 results when it is adjusted to...

A new Internet access provider has just entered the Liberian telecom market. Indeed, the Liberian Telecommunications Authority (LTA) recently granted an individual/universal license to JamCell. Thanks to that license, JamCell will not only be able to enter the voice and data segments. In fact, JamCell will offer Triple Play service in the country.   According to the LTA, JamCell will offer...

Egyptian subsidiary of French bank Crédit Agricole announced, in a release published on February 17, 2019, that it realized EGP2.2 billion (about $125 million) of net profit in 2018. This represents a 12.4% rise compared with the 2017 results. Its return on equity reached 55% in 2018 while the net earnings per share rose by 12.36% to reach EGP6.4. During the period under review, the local...

Mali wants to invest a little more than XOF10,000 billion ($17.19 billion) in the infrastructure sector, Soumeylou Boubèye Maïga, the country’s prime minister announced during a meeting with the private sector on February 15, 2019. According to the minister’s statements reported by the government’s website, half of these funds (XOF5,000 billion) will be invested in road infrastructures...

The International Monetary Fund (IMF) estimates, in a report published on February 15, 2019, that Uganda’s economy should grow by 6.3% during the 2018/2019 (July /June) fiscal year due to the industry and construction sectors. “Credit to the private sector has improved, helped by a supportive monetary policy stance. Growth is projected at 6.3% in FY18/19, as manufacturing, construction,...

On Monday, February 11, 2019, on the sidelines of the 32nd Ordinary Session of the African Union, in Addis Ababa, the new Director General of the Smart Africa Alliance Secretariat was nominated at the 7th meeting of its Board. Ivorian Lacina Koné replaces Malian Dr. Hamadoun Touré, who has held the position since January 2016. Mr Lacina Koné, previously advisor to the Ivorian Prime Minister...

Africa could be the second continent with more business opportunities in the health sector, Vera Songwe (photo), executive secretary of the UN’s economic commission for Africa, indicated last Tuesday. The official indicated that by 2030, the continent should present 14% of all the business opportunities in the health and wellness sector, after North America (21%). The health sector could also...