increase

Indonesia’s recent announcement to raise its export tax on crude palm oil (CPO) from 7.5% to 10% is stirring ripples across global markets. While this change is significant for many countries worldwide, the ramifications are particularly acute for Africa, which heavily relies on palm oil imports from Southeast Asia. For many African nations, the news of this new levy, set to take effect on May 17, 2025, poses a troubling scenario: heightened import costs. It’s a reality that can significantly affect local economies and…

MTN Nigeria's Robust Q1 2025 Performance In an impressive display of resilience and strategic maneuvering, MTN Nigeria reported a staggering revenue of N1 trillion for the first quarter of 2025. This achievement signifies a remarkable 40.5% increase year-on-year, a substantial leap from the N752.9 billion recorded in Q1 2024. One can't help but wonder: What does this surge mean for the broader telecommunications landscape in Nigeria? The driving force behind this robust performance can primarily…

Piracy Incidents Surge in Somali Waters NAIROBI, Kenya - A surge in piracy incidents in Somali waters has sounded alarm bells for the international community. The coastline along the Indian Ocean is witnessing a rise in maritime crime, as revealed by a recent report from a leading anti-piracy organization. The hijacking of two fishing vessels and a dhow on February 7 and March 16 within Somali waters has once again spotlighted the challenges around this…

Unraveling the Mystique of Swedes Venturing into Africa for IS By Ali Musa, Axadle Times International – Monitoring As the sun sets, painting the Swedish skies with strokes of orange and purple, a different narrative unfolds thousands of miles away in the arid landscapes of Somalia. It's a tale few would expect: Swedes, leaving the comfort and serenity of their homeland, gravitating towards the tumultuous sphere of the Islamic State (IS) in Africa. What compels these individuals to…

In the rugged yet dynamic cityscape of Hargeisa, a new chapter in taxation has recently unfolded. The North Western State of Somalia government, keen on broadening its financial horizons, has introduced a sales tax policy that intriguingly touches the pulse of everyday life: mobile money transactions. Once constrained to a select few businesses, this 5% sales tax now meticulously extends its reach over mobile phone airtime, internet data packages, and internet services for homes and offices. Such a decision is not…

Imagine a lively meeting hall in bustling Accra, where the air is thick with anticipation and the focus of many eyes rests on a single stage. Here, on February 20th, 2025, the nation's economic pillars convened to address a matter close to many hearts and wallets: the anointment of the National Daily Minimum Wage (NDMW) for 2025. This pivotal announcement took shape in a formal communiqué circulated by the National Tripartite Committee (NTC), a document signed by the very stakeholders who dictate the rhythm of Ghana's…

Seeking a Raise: Strategies and Steps Towards Better Compensation Not long ago, Cory Stahle, a perceptive economist at the Indeed Hiring Lab, reminded us of a curious financial nugget: employees who take the leap to a new job often see greater wage growth than those who stick with their current gig. But, alas, in a twist of irony, such jumps may not be a simple game of hop, skip, and jump. U.S. companies, often considered the heartbeat of global industry, have reduced their hiring to a rate unseen in nearly a…

In a significant display of unity, European Union leaders convened yesterday in Brussels with a renewed commitment to enhancing defense expenditures. This decision stems from the pressing challenges posed by Russia's aggressive posturing and the evident need to fill critical voids in military capabilities. Yet, the backdrop of this meeting was far from tranquil. The air was thick with tension following U.S. President Donald Trump's provocative remarks about a potential trade war against the EU, purportedly as a response to…

In a bold move, Eskom has put forth a proposal to raise electricity tariffs by a staggering 36%, set to launch in April 2025. This ambitious plan, pending approval from the National Energy Regulator of South Africa (Nersa), includes further hikes: an 11.81% increase for the 2026/27 fiscal year, followed by another 9.10% jump in 2027/28. These proposed increases threaten to significantly tighten the grip on household budgets and overall living expenses. Reactions have been swift and severe. The Democratic Alliance (DA),…

According to recent reports, the UK armed forces are poised to receive a substantial £3 billion boost. This financial injection comes as Rachel Reeves gears up to present the Labour government’s inaugural Budget. Diving into the details, the Chancellor plans to delineate an uptick in defence spending for the upcoming year during her address in the House of Commons. A portion of this windfall will be earmarked for a pay increase for soldiers retroactively effective from April, as noted by the Telegraph. Additionally, these…