Zambian finances under immense pressure

Zambian finances under immense pressure

Zambia is at the forefront of African countries that are suffering from the downturn in globally traded metal prices over the past few years. Government finances are under immense stress as revenue flows have contracted and international financing options have become much more limited and more costly. Severe drought conditions, chronic electricity shortages and the fast approaching August presidential and legislative elections are adding to the...

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Ethiopia goes for mobile money

Ethiopia goes for mobile money

Ethiopia successfully piloted its first mobile money-transfer service (M-BIRR) in 2013 and 2014. It now has its sights firmly set on rolling out mobile money networks in the hope of reducing transaction costs and increasing financial inclusion throughout the country. Foreign firms are providing services to support the development of mobile banking in Ethiopia, which includes the wider roll-out of M-BIRR and introduction of competing services...

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Zambia cuts its losses

Zambia cuts its losses

Zambia has introduced a number of controls on money flowing across its borders in an attempt to reduce tax losses. Currently, the Zambian government estimates that it loses around US$ 2 billion in taxes every year as a result of tax avoidance and transfer pricing by foreign firms. The government has taken tentative steps to reduce these losses by implementing stricter monitoring of financial flows and requiring greater justification by firms...

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