South Africa’s government has reversed its decision to implement a planned Value-Added Tax (VAT) increase, a move that has sparked significant political and economic debate. The proposed hike aimed to raise the VAT rate from 15% to 16% over two years, intending to address a projected R75 billion ($4 billion) revenue shortfall. However, the plan faced substantial opposition from various…
Zimbabwe’s decision to scrap tariffs on U.S. goods represents a significant shift in the country’s trade and economic policies. This move, which seeks to open the door to increased trade with the United States, reflects Zimbabwe’s desire to improve its economic prospects, attract foreign investment, and diversify its trade relationships. The decision to eliminate tariffs on U.S.
South Africa is actively seeking clarity and reassurances from the United States regarding the newly imposed tariffs by President Donald Trump, which have significant implications for the nation’s economy and trade relations.
Impact on AGOA Benefits
The African Growth and Opportunity Act (AGOA), established in 2000, has granted qualifying Sub-Saharan African countries, including…
South Africa’s coalition government is experiencing significant strain following disputes over proposed tax increases in the national budget. The Democratic Alliance (DA), the coalition’s second-largest party, has filed a lawsuit challenging the legality of the budget process, particularly opposing a planned increase in the Value-Added Tax (VAT).
The controversy centers on…
The lawsuit was initiated by two Ethiopian nationals and the Kenyan civil rights organization, Katiba Institute. One plaintiff, Abrham Meareg, claims that his father, Professor Meareg Amare, was murdered in 2021 after being targeted in Facebook posts that shared his personal details and called for his death. Another plaintiff, Fisseha Tekle, a former Amnesty International researcher, alleges he…
In 2023, South Africa faced a crippling power outage crisis that cost the nation an estimated $155 billion, severely impacting its economy and daily life. The crisis, marked by frequent and prolonged blackouts, highlighted the country’s ongoing struggles with energy supply and infrastructure challenges.
South Africa’s power utility, Eskom, has long been plagued by aging…
South Africa has recently achieved a significant milestone by setting a new record in its exports, reflecting the country’s resilience and growing economic potential despite ongoing global challenges. The nation has consistently been a key player in global trade, with its diverse economy comprising sectors such as mining, agriculture, manufacturing, and services. This record-breaking performance…
