Seychelles: Latest News
Dana Sanchez, 11:56 am
MTN making a bid to buy Barclays Africa assets might sound far-fetched and ridiculous – but an MTN bank with operations in 14 African countries would shake up both the cellular and financial services industries. MTN has a track record in integrating big assets. Two new hires at MTN include top-ranking executives with heavy banking experience. Building its own fintech solutions would be expensive for MTN. The trend is for fintech startups to partner with banks rather than telecoms.
Dana Sanchez, 12:21 pm
Barclays Africa said it plans to raise $88 million US to fund loans for small and medium enterprises as part of its growth strategy at a time when U.K.-based parent Barclays plc is selling down its stake in the group. The idea is to raise funds and make loans at attractive rates. Sub-Saharan Africa, home to some of the world’s poorest people, has some of the highest interest rates in the world, offering high rates of return for investors. Barclays corporate lending is up in Africa. The bank’s strategy for shared growth is not philanthropy. It’s business, its CEO said.
Joe Kennedy, 9:20 am
The Seychelles is one of the most popular exotic destinations for luxury travelers and honeymooners, who come from all over the world. The stunning islands, soft sand, and shimmering water make it the perfect place to relax and get away from civilization. Part of its appeal is the availability of exclusive, stylish small hotels where guests can have privacy without compromising on ambiance. Here are 8 Seychelles boutique hotels with serious style.
Lillian Mutiso, 5:49 am AFKI Original
Africa has one of the highest levels of unemployment in the world. Since 2000, more than 27,000 Africans have died while trying to illegally enter Europe via the sea. The search for jobs and an escape from high levels of poverty across the continent is a major motivation. Though unemployment in some African nations reportedly remains higher than 25 percent, general numbers are improving, and many believe that emerging economies in Africa are set to expand rapidly in the coming years.
Lillian Mutiso, 5:07 am AFKI Original
Most sub-Saharan African countries have poorly detailed tax legislation and interpretation of their tax guidelines is sometimes ambiguous. But a few countries have managed to position themselves as tax havens for foreigners. Mauritius and Seychelles are among the most prominent. Foreign individuals or businesses are taxed at low rates. Some tax havens help people to legally hide money with little or no government oversight from their home countries. If there are records of transactions, these may not be available to other governments or tax agencies. Here are some other African countries that have achieved tax-haven status but are somewhat under the radar.
You won’t find an African country among the world’s top 25 performers for innovation, but several low-income African countries are outperforming their peers based on GDP, earning the designation “innovation achievers.” Co-published by Cornell University, the World Intellectual Property Organization, and A.T. Kearney, the Global Innovation Index goes beyond traditional measures of innovation such as research and development.
Julia Austin, 4:08 am AFKI Original
Couples hoping for an intimate wedding can book the Mara Gypsy Camp in Masai Mara National Park, which accommodates just 20 guests. The staff are experts at planning weddings with plenty of romantic surprises up their sleeves. A stream that runs through the property attracts a lot of wildlife with some stunning photo opportunities—and unexpected furry guests. The camp includes spa treatments, butler service and sundown cocktail hour — an amazing place to spend your honeymoon too.
African governments have tried to limit and stop its use, but marijuana remains deeply ingrained in African traditions, economies and recreation. It is an important source of income, but is illegal everywhere in Africa. Tolerance and enforcement vary from country to country. There’s a growing belief that with the proper regulations, marijuana should be legalized for the greater good. AFKInsider compiled a list of African countries and ranked them for marijuana tolerance. We’ve also provided a list of most marijuana-friendly countries in the world as a basis for comparison.
Staff, 5:56 pm
There is widespread social resistance under way in Africa. Grassroots protesters are questioning the logic of export-led “growth” and fiscal austerity. They are demanding that their basic needs be met instead. After the dramatic Arab Spring, protesters picked up the pace in many sub-Saharan countries. Even if it is ignored in Kigali, or repressed on the ground, the popular risings against the WEF’s dubious “Africa Rising” rhetoric await…
Dana Sanchez, 2:22 pm
Liberia does not conform to the definition of a tax haven and is not considered one by France and the U.S., the Liberian government said in response to a report last week that the West African country is about to be blacklisted on an E.U. tax haven blacklist. While the E.U. collects information on how its member states view other jurisdictions, it has not engaged in any action against tax havens. In response to the Panama Papers data leak, that may change. Three out of four companies doing business with World Bank funds in sub-Sahara used tax havens, according to anti-poverty group Oxfam.
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