Botswana: Latest News
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.
Lillian Mutiso, 6:13 am AFKI Original
In 2014, Africa received a total of $128 billion, which made it the second biggest destination of Foreign Direct Investment (FDI) capital globally. In 2015, the flow of FDI capital was projected to exceed US$190 billion. Investment flow into the continent has significantly grown over the last decade in tandem with the high economic growth witnessed by most countries in the region. Much of the investments have been made in the infrastructure, financial services, real estate and consumer-based sectors.
Kevin Mwanza, 7:07 am
Angola’s sovereign wealth fund increased its investment in private equity firms operating in the country and across sub-Saharan Africa to more than half of its $5 billion, the fund said in a 2015 update. A sovereign wealth fund is a state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds.
Dana Sanchez, 4:41 pm
When diamond marketers describe the qualities of diamonds, the adjectives they use can translate into millions of dollars — adjectives like “exceptional,” “supreme” and “vivid.” Sotheby’s auction house has sold a rare pear-shaped vivid pink diamond for $31.5 million, and stakeholders pulled out all the stops describing it. Global demand for diamonds fell 2 percent in 2015 despite record sales in the U.S.. But interest in a spectacularly rare vivid pink diamond was overwhelming, according to Sotheby’s — proof that for the right diamond and for buyers with deep pockets, “demand is as deep as it’s ever been.”
Dana Sanchez, 2:46 pm
You won’t find U.S. chicken in South African locations of the mega chicken restaurant chain Nando’s, the company said Wednesday — proof that controversy hasn’t subsided over U.S. chicken exports and the African Growth and Opportunity Act. Nando’s does most of its business outside South Africa and is the largest collector of South African contemporary art, displaying it in its restaurants. “Nando’s is proudly South African,” said CEO Geoff Whyte.
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, 5:58 am
With populations of African elephants declining alarmingly in many areas because of poaching, habitat loss and conflict with expanding human populations, Botswana has become one of Africa’s most important sanctuaries in the battle to conserve the species. The country harbors the world’s largest elephant population, representing about 40 per cent of all those left in Africa. The future conservation of savanna elephants will largely depend upon how they fare in their remaining strongholds.
Dana Sanchez, 2:20 pm
Many in the U.S. are tired of one-way trade preferences to Africa without reciprocal access for U.S. goods. “It’s time to start looking at what comes next,” said the U.S. Trade Representative at the World Economic Forum. Regional integration could play a role. “Part of what motivates us is that we are hearing from Africans that they want to move towards a more permanent, reciprocal kind of relationship.” South Africa risked losing its AGOA benefits over U.S. chicken, which finally hit SA shelves for the first time in 15 years.
Joe Kennedy, 10:06 am
Africa has some of the largest, hottest, highest and most awe-inspiring deserts in the world. The images they conjure are intoxicating, from herds of camels plodding through Saharan dunes, to crazy critters skittering through sands of the Karoo, to the hauntingly desolate rock-scapes of Namibia. And who better to capture the beauty of Africa’s deserts than Instagrammers? These 10 folks headed out to the desert to see it for themselves, and brought back these amazing photos.
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