- New SA visa rules for children put on hold until June 2015
- New Plans for Madagascar Tourism
- New Dar es Salaam flight with Emirates
Commercial News from Africa
Key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta.
Security, food, jobs, investment: Africa's next billion babies.
By 2050, Africa’s population will hit 2.4 billion, up from 1.1 billion today. The change in population is going to have dramatic effects on African countries and their cities: Kenya's population, for example, is expected to more than double from 44 million to 97 million and Nigeria's will balloon from 174 million to 440 million. Sub-Saharan Africa’s population is growing due to advances in modern medicine and healthcare which mean that more babies are surviving childbirth and fewer adults are dying from preventable diseases. Contemporaneously, the number of children being born across the continent appears to be holding steady - together these factors are generating a population explosion. So where are the opportunities for private equity investors? Resources, services (in particular consumer services), agriculture and infrastructure are all set to burgeon as a consequence of such population growth.
Kenya imposes 5 percent capital gains tax.
Kenya's President Uhuru Kenyatta has signed into law a 5 percent capital gains tax. The finance bill approved by parliament in late August will take effect on Jan. 1, changing how taxes are applied in East Africa's biggest economy. Kenya's government is trying to raise funds for development projects to spur economic growth and create jobs. This law could affect investment in property, equities and the country's nascent oil and mining sectors. Capital gains tax was dropped by the country in the mid-1980s to attract foreign and local investment. Tanzania, the region's second-biggest economy charges a capital gains tax at 20 percent for foreign-owned firms and 10 percent for residents. Uganda has a capital gains tax of 30 percent.