Making Finance Work for Africa (MFW4A)’s Post

𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐞𝐬 𝐂𝐨𝐦𝐦𝐞𝐧𝐝 𝐓𝐚𝐧𝐳𝐚𝐧𝐢𝐚, 𝐒𝐀 𝐌𝐨𝐯𝐞 𝐭𝐨 𝐄𝐧𝐝 𝐃𝐨𝐮𝐛𝐥𝐞 𝐓𝐚𝐱𝐚𝐭𝐢𝐨𝐧 The South African Business Forum in Tanzania (SABFT) has welcomed efforts by the governments of Tanzania and South Africa to address the long-standing issue of double taxation. SABFT chairman Manish Thakrar expressed confidence that this problem will be resolved by the end of the year, following a meeting sponsored by Absa Bank and South African Airways. The move to end double taxation is seen as encouraging for businesses operating in both countries and is expected to become "a thing of the past" due to ongoing efforts by the governments, business chambers, and other stakeholders. Established 24 years ago, the SABFT aims to connect South African investors with Tanzanian counterparts, fostering investment opportunities in both nations. Since Tanzania's privatization of state-owned entities in 1997, there has been an increase in South African investments in sectors such as telecommunications, industrial production, beverages, and food. The forum now boasts 100 members from various sectors including banking, mining, telecommunications, manufacturing, and supermarkets. Irene Rwegalulira Malimu, Director of Global Markets at Absa Bank Tanzania, highlighted the forum's role in helping businesses navigate financial services and conduct business in Tanzania in accordance with government regulations and guidelines. #TanzaniaSABusinessForum #DoubleTaxation #InvestmentOpportunities

Sonia Kimeto, a Senior Associate in Transactions Advisory at PwC Kenya notes that, the recent reforms and directives in the Ethiopian economy will improve investor sentiments, ultimately increasing the inflow of investment funds into Ethiopia. Investors have been apprehensive about the Ethiopian economy due to the foreign exchange regulations previously set. However, in a new directive issued on 29 July 2024, the National Bank of Ethiopia loosened restrictions to allow individuals and companies to have foreign exchange accounts, removed the foreign currency surrender requirements for exporters and commercial banks, and implemented a market-based exchange rate to encourage increased trading as a means to sustainable growth. Prior to investing in Ethiopia, investors should aim to understand the market and identify potential opportunities and risks they may be exposed to while operating in Ethiopia. Learn more about how PwC can support you in navigating the Ethiopian market through our capabilities in Transactions Advisory related matters: https://ow.ly/426850U28jR

Overall, the SB ATB trade attractiveness rankings reveal a dynamic shift in trade standings among the 10 African nations it covers, with Tanzania (moving from 8th to 4th ranking), Mozambique (4 to 3), Nigeria (6 to 5) and Zambia (9 to 8) recording improvements in their positions, while declines were recorded for Ghana (3 to 7), Uganda (7 to 9) and Kenya (5 to 6). Meanwhile South Africa, Namibia and Angola retained their rankings, at positions 1, 2 and 10, respectively. The 10 countries covered by the SB ATB are AfCFTA signatory nations, represent 66 percent of Africa’s gross domestic product (GDP) and 45 percent of the continent’s population.

🌽💰 In collaboration with OECD - OCDE and Inter-American Development Bank, we explored how #blendedfinance can address some of the challenges that financial institutions face in agricultural lending.   📝These case studies show how it can be used to reduce risk for financial institutions.   1. Increasing the profit potential for farmers in Kenya featuring AGRA, Agricultural Finance Corporation, Barclays and International Fund for Agricultural Development (IFAD).   https://lnkd.in/d_xUTk2e   2. Providing fertile ground for lending in the Philippines featuring CARD SME Bank and IFC - International Finance Corporation. https://lnkd.in/dqbxXqcz 3. Scaling impact through guarantees in Tanzania featuring Ministry of Foreign Affairs of Denmark and the Swedish International Development Cooperation. https://lnkd.in/dUpYgQud    

#GLOBALSOUTHALERT: #MORTGAGEE (TYPICALLY A LENDER SUCH AS A #BANK) NOT A #TRUSTEE FOR THE #MORTGAGOR (#BORROWER) –"It is well settled that a mortgagee is not a trustee of a power of sale for the mortgagor. Once the power has accrued, the mortgagee is entitled to exercise it for his own purposes whenever he chooses to do so. It matters not that the moment may be unpropitious and that by waiting a higher price could be obtained. He has the right to realize his security by turning it into money when he likes. [ See: Cuckmere Brick Co. Ltd Vs Mutual Finance Ltd [1971] Ch. 949 ] ; FOR FURTHER DETAILS, CLICK LINK: https://lnkd.in/egccdq4d TAGLINE: "#TREASURE THE #PEARL , RIDE #SPECIAL #MOBILITY." LINK: https://lnkd.in/dQeAywjs VISION STATEMENT: "WHOLE BUSINESS SECURITIZATION (#WBS) FOR #AFRICA AND #BEYOND

The Africa Finance Summit in Casablanca was a great opportunity to meet many experienced and new innovators of financing trade and development on the continent. There's definitely alot going on but this needs to be scaled up massively for African economies to even simply have any hope of catching up with their Asian, European and North American counterparts. Yes, Africa's risks can sometimes be exaggerated because of weak data and biased desk based analysis in capitals far away from the continent. However, for Africa to grow economically, new investments must be made in human capital, digital infrastructure and regional and continental integration to enhance intra-Africa trade. The real elephant in the room for most African governments remains managing debt prudently and raising domestic revenue not just by increasing taxes but diversifying revenue sources, improving taxpayer education and compliance as well as enhancing transparency in government expenditure utilisation. The real sustainable way to tackle poverty, create fiscal space, and lower international borrowing costs is to grow the economy by attracting investment. Taxation will yield greater public benefits with improved conducive investment environments on the African continent.

Yesterday, Capital Markets Authority- Uganda hosted the Commissioner of the Financial Services Department at the Ministry of Finance, Planning & Economic Development for a meeting aimed at reviewing CMA's achievements in FY 2023/24 and formulating strategic plans for FY 2024/25. Key items discussed included: establishing a framework for Islamic capital markets in Uganda, enhancing private equity, and exploring diversified investment options for Collective Investment Schemes. This meeting also presented an opportunity for CMA to align its objectives and strategies with the dynamic landscape of Uganda's financial services sector. CMA is committed to engaging in dialogue with key stakeholders as a means of creating an environment that fosters the growth of Uganda's capital markets and promotes economic development. #ProtectingYourInvestments

"What should SMEs prepare for to foster growth?" Please enjoy the dialogue between SME Bank of Cambodia, represented by Mr. CHEA Sophak, Chief Finance Officer, and Mr. NEOU Soeunsonat, Director of the Planning and SME Development Promotion Department (MISTI)." 👉 Full video via Youtube Channel: https://lnkd.in/gGck65JZ 👉 Topic: Policies and Opportunities for SMEs in Cambodia

SBM Bank Partners with Dutch Ministry to Empower Kenyan Women in Global Trade SBM Bank Kenya, in collaboration with the CBI - Centre for the Promotion of Imports from developing countries (CBI), has launched an initiative to help Kenyan women entrepreneurs access global trading opportunities. The program, funded by the Dutch Ministry of Foreign Affairs , will initially target 15 women-owned businesses during a six-month pilot phase, with plans to scale up in the future. The initiative aims to improve women’s access to finance, enabling them to enter and expand in international markets. The Bank pointed out that, despite women having a low loan delinquency rate of 2%, they still face difficulties securing the necessary financing for exports. SBM Bank promises to offer tailored financial solutions to support medium-sized women-owned SMEs in export value chains. In addition to financial support, the partnership also promises to provide training and coaching on financial management, export readiness, and other critical skills. CBI will also use its market intelligence and connections to create new international opportunities for these businesses. This program is part of CBI’s larger Women’s Economic Empowerment project in Kenya, valued at EUR 2 M over five years. #Kenya #GlobalTrade #FinancialInclusion #SMEs #GenderEquality #SBMBank #WomenEmpowerment #EconomicGrowth #SustainableDevelopment

Rwanda has once again proven its commitment to progress, ranking among the top performers in the World Bank’s inaugural B-READY report, which assesses global business environments across regulatory frameworks, public service delivery, and operational efficiency. Rwanda's achievements are remarkable: - Operational Efficiency: Rwanda ranks 3rd globally with a score of 81.31%, showcasing its commitment to streamlined processes and rapid company registration. - Public Services:Scoring 67.37%, Rwanda’s digitized public services, like online business registration and automated tax filing, are models of efficiency. - Regulatory Framework: Rwanda’s strong, business-friendly policies rank it 17th globally, with recent reforms enhancing its investment appeal. From electronic case management in the judiciary to supportive tax policies and ease of profit repatriation, Rwanda sets a high standard for African business environments. This is a testament to Africa's capacity for competitive, forward-thinking economic transformation. Will you be taking advantage of Rwanda’s business-friendly environment? #OluseunOnasoga #rwanda