May 2023 / Focus Africa

30 Maggio 2023

Africa in Review by the Numbers (May 2023)

$28 billion Funding to be mobilised in Uganda by 2030 to finance sustainable development projects. The private sector will commit up to $4 billion to the climate resilience fund initiated by the East African country's government. (Afrik21)

1200 Entrepreneurs in Kenya to benefit from Mars Wrigley's entrepreneurship model under the Maua programme. The initiative seeks to support micro and small enterprises to create jobs and support sustainable livelihoods in Kenya. (Food Business Africa)

39%  Proportion of the European Investment Bank's financing delivered outside of Europe that went to Africa in 2022. Some 19% of the $4.5 billion the Bank investment in Africa went to climate action and environmental sustainability. (Africa Global Funds)

$21 billion Projected market for Nigeria's crude oil on the back of the Dangote Refinery launch this coming week. The facility intends to meet the West African country's fuel needs, create jobs and contribute to the economic development. (This Day)

100 dams Offered to private investors in Kenya in $12 billion initiative to address the country's water shortage. This public private partnerships intend to ensure citizens get reliable water services and will function as joint ventures during the construction and payback periods to ensure investors get their return on investment. (Business Daily)

45% Proportion of total global investment directed to Africa by Proparco in 2022. With over $1 million committed to the continent, the region was the biggest beneficiary of the French development bank. (Proparco)

52,000 tonnes Pork imported annually by Tanzania as reported by pig farmer association,Tapifa, The East African country produces 27,000 pork a year,   leading farmers to call for more strategies to meet the demand. (The Citizen)

66% Extension of storage free period for containerised cargo handled at Kenya's port of Mombasa and inland container depots for transit users.The increase from 9 to 15 days to clear goods before storage costs are applied will benefit traders from neighbouring countries which use Kenyan ports for exports. (Monitor)

50 kilometres Largest bridge in Africa to be constructed in Tanzania connecting Dar es Salaam to Zanzibar to boost trade. Tanzania is currently talking to prospective investors in China about financing plans for the project. (CIPS Supply Management)

$3 billion Loan from Afreximbank disbursed in Kenya to offer temporary relief for the East African country as it faces financial headwinds. The funds will go into different sectors and boost importation of essential commodities to help reduce cost of living. (The East African)

69% Growth in blueberry production recorded in Zimbabwe, in a bumper horticulture season which recorded 18% growth overall to reach 2.8 million tonnes in the 2022/23 season. The particularly strong increase in berries was attributed to 50% rise in both land and yields for the crop. (The Herald)

50 kilometres Largest bridge in Africa to be constructed in Tanzania connecting Dar es Salaam to Zanzibar to boost trade. Tanzania is currently talking to prospective investors in China about financing plans for the project. (CIPS Supply Management)

  Review by Kili Partners . Powered by Asoko Insight
12 Maggio 2023

Rwanda Proposes to Cut Corporate Income Tax Rate

Rwanda has tabled before the parliament an income tax amendment bill proposing several tax changes relating to direct taxation. Among the key changes to be introduced, is a reduction in the standard corporate income tax rate (CIT) from 30% to 28%.

In addition, there will be a reduction of the tax rate from 20% to 10% on employment income between RWF 60,000 to RWF 100,000 per month.

The bill amending these changes was tabled before the parliament on 20 April 2023.