Tag Archives: fines
fines: Latest News
Dana Sanchez, 2:10 pm
The South African rand lost almost half its value against the U.S. dollar over the past five years as the country struggled through economic crisis. Zuma welcomed the investigation, saying the government is prepared to act against distorted financial markets “to protect our country’s economy.” He said the financial sector needs new players to diversify, and the government plans to establish a state bank. South Africa’s competition watchdog recommends fines of 10% of banks’ annual in-country turnover.
Staff, 12:01 am
Do Nigeria’s big corporate fines signal the end of “anything goes” in Africa? It is often argued that bad government is good for business. In such an environment, it may be easy to exploit poor regulation, cheap labor, raw materials and tax loopholes. However, responsible business practices are possible in Africa according to Africapitalism — a new economic philosophy for Africa championed by Nigerian banker and entrepreneur Tony Elumelu. Recent fines imposed on multinational companies are a sign of things to come.
Dana Sanchez, 5:50 pm AFKI Original
Marijuana is illegal but deeply ingrained in African economies and tribal traditions. Tolerance and enforcement varies from country to country. Zambia is the world’s third-largest marijuana-smoking country. After Colorado legalized recreational use of marijuana in the U.S., it’s reaping the financial benefits. We’ve ranked 18 countries for marijuana tolerance in Africa.
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