Corporate Tax | Trends
By replacing cascading sales taxes with a value-added tax (VAT), Africa has succeeded in lowering its total tax rate to 46.6% from a peak of 72.2% in 2005.
Corporate Tax | Trends
Nigeria | Milestones
Nigerians go to the polls next month with some trepidation...
Africa | Emerging Markets Regional Review
African economies are well on their way to transforming the region’s status from a frontier to an emerging market. The IMF predicts Africa will grow by 5.8% in 2015, up from 5.1% this year, with Chad, Côte d’Ivoire, Democratic Republic of the Congo and Mozambique projected to growth over 8%.
Tunisia | Newsmakers
Elections in Tunisia in October, which saw the secular Nidaa Tounes party (39.7%) narrowly beat the incumbent Islamic party, Ennahda (31.8% of the vote), were widely praised for being free and fair. Questions remain, however, about their democratic robustness.
Regional Focus | The Levant
Offshore energy reserves, a stable banking sector and infrastructure gaps all present opportunities for foreign investment in the Levant region.
AFRICA 2014 | INTRODUCTION
Though Africa has experienced impressive growth for well over a decade now, domestic markets and intraregional economic relations have remained constrained, with national economies driven primarily by mounting foreign demand for the continent’s natural resources and commodity exports.Today, however, things appear to be changing. For one thing, Africa is witnessing the emergence of a middle class.
MILESTONES | TANZANIA
Plans by Tanzania’s Capital Markets and Securities Authority to dispense with the 60% foreign ownership limit in stocks listed on the Dar es Salaam Stock Exchange could bring positive results in the short and medium term for Africa’s capital markets.
AFRICA 2014 | INTRA-AFRICA TRADE
The rise of the African consumer market is providing an opportunity for domestic companies to increase their footprint across the region.
NEWSMAKERS | POLAND
Tony Elumelu, former managing director and CEO of United Bank for Africa, returned to the bank in late August as chairman, following his appointment by the shareholders.
AFRICA 2014 | UNITY
Africa’s dream of greater economic unity is gradually becoming a reality, with plans to establish a free-trade area spanning eastern and southern African countries well under way. Yet it could take time for the associated economic and trading benefits to play out.
AFRICA 2014 | INFRASTRUCTURE
From power plants and mining to tourism and railroads, new infrastructure projects are stimulating the growth of industries across sub-Saharan Africa.
CAPITAL MARKETS | AFRICAN EQUITY
Initial public offerings on the Nairobi Securities Exchange have been few and far between in recent years.
AFRICA 2014 | MINING
Africa’s mining industry is on the verge of breaching limits historically imposed by political risk constraints.
FRONTIER MARKETS REPORT | MOROCCO
Morocco boasts solid outward FDI, geopolitical stability and proximity to key markets, but corruption is commonplace.
COUNTRY REPORT | EGYPT
Pressure is building on Egypt’s president, Abdel Fattah al-Sisi, to deliver economic gains. Falling investment and a sharp drop in tourist arrivals have weakened growth over the past three years. But a rapid return to pre-2011 expansion levels appears unlikely.
In this first installment of a two-part series, Global Finance identifies the top online corporate and consumer banks by country and then by region, according to product or service category.
The world’s second-largest producer of cocoa, is expected to ask the International Monetary Fund for help.
Ebenezer Essoka, a native of Cameroon, is vice chair for Africa at Standard Chartered. He sat down with Global Finance to discuss African trade and the need for African policymakers to ensure that foreign investment deals are in the best interest of all stakeholders.
COUNTRY REPORT | NIGERIA
Nigeria lacks one key element for stellar growth: a power sector commensurate with its prospects.