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Reducing Poverty and Inequality in Africa
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The Ugandan government has invited the public to submit tax proposals for the 2026/2027 national budget. While officials aim to improve policy through public input, analysts are calling for deeper reforms, including changes to tax exemptions, rental income taxation, and PAYE thresholds.
The South African rand held steady as traders awaited key inflation data and the central bank’s interest rate decision next week, both expected to shape market sentiment. A weaker U.S. dollar and rising jobless claims added global context to the rand’s cautious performance.
Pick n Pay reported a 4.3% increase in group turnover, driven by higher sales at supermarkets and strong growth at Boxer, despite tough consumer conditions. Like-for-like sales grew 3.8%. Boxer saw a 12.1% rise in turnover. Pick n Pay also appointed Grant Pattison as an independent non-executive director, with a focus on its Store Estate Reset Plan to optimise profitability amid challenging economic conditions.
Nedbank Group Ltd. has reached an agreement to sell its 21.2% stake in Ecobank Transnational Inc. for $100 million to Bosquet Investments, a company controlled by Alain Nkontchou, former chairman of Ecobank.
The Reserve Bank of Zimbabwe (RBZ) has begun producing redesigned ZiG banknotes, which will soon be introduced as part of the central bank’s de-dollarisation strategy aimed at transitioning to a mono-currency system within five years.
Nigeria has imposed a six-month ban on raw shea nut exports to boost local processing and capture more value from the global market. The move aims to empower rural women, curb informal trade, and strengthen the country’s position in the $6.5 billion shea industry.
