Ghana's Revenue Authority Scraps Controversial 1% E-Levy
Plus: Flutterwave CEO open to acquisition and Namibia wants to go nuclear
With a new government in power, Ghana has officially scrapped its 1% E-Levy tax on digital transfer of money.
The E-Levy, which slapped a 1% fee on electronic transactions like mobile money payments and bank transfers, was meant to boost Ghana’s revenue amid a fiscal crunch.
But the introduction was met with hostility from the general public in Ghana
In The News This Week:
Flutterwave CEO Open to Acquisition, But Focused on Profitability
Flutterwave, Africa’s most valuable fintech unicorn, is open to a potential acquisition by a larger player, CEO Olugbenga ‘GB’ Agboola told Semafor.
Trump’s Tariff Plan Hits Ghana with 10% Levy
The Trump administration imposed a 10% reciprocal tariff on Ghana, citing unfair trade practices. Ghana, in turn, charged 17% tariffs on U.S. imports.
Namibia In Talks with Russia for Nuclear Energy Cooperation
Namibia’s President Netumbo Nandi-Ndaitwah met with Russian Deputy Prime Minister Yury Trutnev in Windhoek on Tuesday to discuss deeper cooperation in nuclear energy.
In the rest of the news (ICYMI):
Africa Ecosystem Activity
Global ride-sharing conglomerate Yango Group launches $20m African venture fund
Nigerian logistics startup Kwik partners Alibaba to support exporters
Egyptian semiconductor startup InfiniLink raises $10m seed funding
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