Last week marked a historic turning point for South Africa and the global economic community as the nation not only launched the Business 20 (B20) forum but also hosted the inaugural meeting of G20 Finance Ministers and Central Bank Governors in Cape Town. These high-profile events signal a new era in global economic governance and […]

In recent years, the South African government has intensified efforts to formalise the informal economy, with a particular focus on spaza shops—the small convenience stores that are the lifeblood of many townships. These businesses, which provide essential goods and services to low-income communities, are now at the centre of a policy drive aimed at boosting […]

In a climate where political alliances and economic imperatives are more intertwined than ever, South Africa finds itself at a critical juncture over a proposed increase in the value-added tax (VAT). The debate centers on a contentious budget proposal that could raise the VAT rate from 15% to as much as 17%. The ruling African […]

Taiwo Oyedele—the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms—stressed that the new tax proposals would not reintroduce an inheritance tax. Speaking before the House of Representatives Committee on Finance, chaired by Hon. James Faleke Oyedele sought to clarify misunderstandings that have circulated in the media and among stakeholders. His remarks come […]

In a move that underscores its long-standing commitment to promoting financial stability and sustainable development in developing countries, the Qatar Fund for Development (QFFD) has signed a landmark loan and grant agreement with the Ministry of Economy and Finance of the Republic of Mali. The agreement, valued at $50 million, is designed to help Mali […]

As global diamond sales continue to falter, Botswana and De Beers have unveiled a strategic marketing initiative aimed at reviving consumer interest in natural diamonds. This move comes at a crucial time, as the diamond industry faces a historic downturn, with natural diamond prices falling by 26% over the past two years and lab-grown diamonds […]

In a statement amid growing public discontent, the South African Communist Party (SACP) has firmly rejected the government’s proposed Value-Added Tax (VAT) increase and is calling for a comprehensive overhaul of the nation’s tax system. At a recent Political Bureau meeting, the SACP expressed its full backing for SARS commissioner Edward Kieswetter’s proposal for the […]

Tanzania’s mining regulator has mandated that all gold mining firms and traders sell at least 20% of their gold to the country’s central bank. This directive, which took effect in October following the enactment of new mining regulations, is part of a broader strategy by the Bank of Tanzania (BoT) to diversify its reserves and […]

In a historic display of government support and private sector dynamism, Nigerian fintech giant Flutterwave has received President Bola Tinubu’s unequivocal backing for its bid to list on the Nigerian Exchange Limited (NGX). This high-stakes meeting, held at the Presidential Villa in Abuja on February 23, 2025, brought together top leadership from Flutterwave, Alami Capital, […]

South Africa’s official unemployment rate edged down slightly in the fourth quarter of 2024, falling to 31.9% from 32.1% in the previous quarter, according to the latest Quarterly Labour Force Survey (QLFS) released by Statistics South Africa on February 18, 2025. While this marginal decline reflects a modest improvement with an increase of 132,000 employed […]