Tag Archives: incentives
incentives: Latest News
Peter Pedroncelli, 4:18 am
In an effort to attract foreign direct investment back to the country, Egypt has passed a law that is designed to cut red tape and make conducting business in the country far easier. Along with reducing bureaucracy for new business ventures in the country, incentives have been created in order to attract businesses to return to the North African nation. Egypt’s economy has been struggling in the last six years since the 2011 uprising that saw Hosni Mubarak overthrown as Egyptian president.
Peter Pedroncelli, 6:57 am AFKI Original
Team South Africa returned to Johannesburg from Brazil on Tuesday morning, fresh from their 10-medal winning exploits at the Rio 2016 Olympic Games, and they were met at OR Tambo International by thousands of fans who had packed the airport to welcome them home. The 137 athletes who represented South Africa at the Games returned home with 10 medals; two gold, six silver and two bronze.
Dana Sanchez, 8:09 am
Mobile phone use in African schools has become a leading issue, echoing concerns around the world. Major corporations like Vodacom, parent of Kenya’s Safaricom, incentivize children to use their mobile phones for schoolwork, promising free access to online learning materials. Teachers and students say they’re using their phones increasingly in African classrooms, not just to talk and text but to check Facebook. African school students report disturbing levels of bullying and harassment, according to a survey.
Dana Sanchez, 5:27 pm
With the oil revenue dwindling, Angola has started legal and institutional reforms in private investment and public services. Government spending was cut by 50% and subsidies are being reformed. The government has been quick to crack down on dissent. You no longer need a minimum $1 million US to invest in Angola. Micro, small and medium-sized companies are now encouraged. High-priority sectors for Angola include food, textiles, construction, recycling, and plastics.
Kevin Mwanza, 9:31 am
African farmers that cultivate cash crop produce like tea, coffee, cocoa and cotton are a happy lot this year because of the foreign exchange gains they have made due to weakening local currencies. Despite falling commodity prices globally, many agricultural produce exported out of Africa have fetched higher revenue for farmers as they are sold in dollars, a currency that has strengthened significantly this year.
Dana Sanchez, 11:35 am
Volkswagen is investing more money in South Africa to build new models for local and export markets. Imperial Holdings is undecided on whether to go with local assembly of Hyundai cars. The group is studying South Africa’s auto production incentive plan to decide whether it should go with locally produced versus imported passenger cars.
Dana Sanchez, 11:44 am
Rwanda wants to break into East Africa’s high-growth horticulture sector, but competition is fierce and challenges such as transportation scare away investors despite government incentives, according to TheAfricaReport. A public-private partnership between the Rwandan government and Kenya’s Shalimar Flowers could be a model for demonstrating Rwanda’s potential in horticulture.
Dana Sanchez, 3:40 pm AFKI Original
Global stakeholders will converge in Cape Town in late April for the inaugural World Travel Market Africa. Moguldom Emerging Markets will be there to promote its new website, AFKTravel. “It’s encouraging that there are more exhibits of this type coming to the continent,” said Mark Walton, a Moguldom Media Group consultant.
Makula Dunbar, 12:39 pm
Ghana loses about $1.2 billion annually as a result of tax incentives, which are offered to major foreign companies operating in the country. According to a new report published by ActionAid Ghana (AAG) in Accra, the amount was equivalent to about twice government’s entire health budget for 2013 and about half the entire education budget.
Makula Dunbar, 6:04 pm
According to How We Made it in Africa, multinational companies including French retailer Carrefour and Singapore-based agribusiness Olam, have stepped into Gabon’s business arena. Now the country, through special incentives, is encouraging more investors to set up shop, create jobs and help stimulate the economy.
- Real Estate