In a significant shift for South Africa’s financial and retirement landscape, the South African Revenue Service (SARS) announced that it has paid out 21.4 billion rand ($1.2 billion) in the six weeks following the enactment of the country’s “two-pot” pension reform. This development is poised to provide much-needed financial flexibility for South African workers, while […]

The recent gazetting of the remote work visitor visa and the introduction of a points-based system for work visas marks a significant milestone in South Africa’s immigration policy. This evolution aims to attract skilled and remote workers, offering a pathway to much-needed economic recovery and growth for the nation. These reforms, introduced by Home Affairs […]

The Nigeria Labour Congress (NLC) has issued a stern call for the Nigerian government to urgently reverse the latest increase in petrol prices, marking the third hike in less than a year. The rising cost of fuel continues to compound the economic pressures faced by citizens, igniting further frustration across the country. With inflation and […]

The Bank of Uganda (BoU) has reduced its benchmark Central Bank Rate (CBR) by 0.25% to 9.75%, marking the second rate cut this year. This decision reflects a broader trend of central banks adopting more accommodative monetary policies amid declining inflationary pressures. The move is in line with recent developments seen across global financial markets, […]

On October 6, 2024, South Africa’s Department of Employment and Labour made a significant announcement regarding the expansion of the budget for the Temporary Employer-Employee Relief Scheme (TERS). The budget has been increased from R400 million to R2.4 billion per annum to address the growing economic challenges and prevent layoffs across various industries. The expanded […]

South Africa’s government is set to implement significant visa reforms aimed at stimulating economic growth by attracting skilled workers, tourists, and capital investment. These changes mark a departure from past immigration policies that have been criticized as xenophobic and overly restrictive. Home Affairs Minister Leon Schreiber, who announced the upcoming reforms, emphasized the potential of […]

In April 2024, Zimbabwe introduced a new gold-backed currency, the Zimbabwe Gold (ZiG or ZWG), hoping to stabilize the country’s economy and reign in rampant inflation. The government touted it as a bold move to restore public confidence in the local currency, which had suffered through decades of hyperinflation, devaluation, and dependence on the US […]

South Sudan is facing profound macroeconomic challenges amid a deteriorating political and security landscape. These challenges are compounded by the ongoing conflict in neighboring Sudan, recurrent flooding, and the country’s heavy reliance on oil revenues. As the country struggles with economic instability, the International Monetary Fund (IMF) is assessing the readiness of the South Sudanese […]

In a significant turn of events, Ghana is set to witness a three-day protest against illegal mining activities, a pressing issue that has stirred public outcry over environmental degradation, and the controversial detention of 54 activists. These protests, set to commence on Thursday, will culminate in a vigil on Saturday. Organized by various civil society […]

In Nigeria, commercial banks are facing mounting pressure as they continue to withhold cash from customers, exacerbating an already tense situation of cash scarcity across the country. While banks claim the Central Bank of Nigeria (CBN) has failed to provide sufficient cash, the CBN maintains that the banks are hoarding funds. The stalemate has left […]