EU AU meeting in Brussels

Egypt : 10% tax on capital gains and stock dividends introduced

One of the first economic reforms under President Al-Sisi has been announced. Henceforth, a 10% tax will be levied on capital gains and stock dividends but the percentage could be lowered to 5% in some cases. The taxes are expected to generate between 3,5 and 4,5million Egyptian pounds. The new law was approved by the […]

Niger commission proposes 5-year transition to civilian rule

A commission in military-ruled Niger suggested the country needs 5 years before it returns to civilian rule, triggering criticism from the regional bloc ECOWAS. The military seized power in 2023, ousting President Mohamed Bazoum. Following the coup ECOWAS imposed sanctions on the coup leaders and suspended Niger from all ECOWAS decision-making bodies. Niger joined other […]

Algeria’s Foreign Exchange Reserves to Drop to $85 bln by End 2018

Imports continue to drain Algeria’s foreign exchange reserves, which are expected to end 2018 with $85 billion as the country reels under the drop in oil revenues. Reserves were at $90 billion by the end of May, almost less than half the $190 billion reserves registered in end 2014 prior to the oil price slump. […]