Search Results for: Nigeria

EUROPEAN Union (EU) ministers finally committed, on December 18, (2017), to a target of reaching at least 27% renewable energy out of overall energy consumption by 2030. While lower than the 45% or 30% demanded by green groups and the European Commission respectively, the biofuels industry has declared that its output should be instrumental in meeting this goal.…

SUB-SAHARAN Africa continues to grow as a key market for personal care product brands, with enlarging middle classes providing more spending power – however, the region’s most mature market – South Africa – has been experiencing some stagnation.

The rest of the region still is performing as emerging markets should – with growing sales, even when uneven across categories, giving brands much hope for the future.…

African clothing exporting countries are banking on rising costs in China and changing consumption patterns worldwide to attract buyers to the continent to take advantage of lower production costs.

Major hurdles abound, but manufacturers are hopeful that clothing facilities built from scratch that abide by international best practices will help the continent’s apparel sector develop.…

Despite the negative impact of the economic recession of 2016 in Nigeria (when the GDP of Africa’s largest economy fell 1.5%), colour cosmetics remained a vibrant consumer sales category. It has been and will be powered by a growing population of urbanised and fashion-conscious women interested in upgrading, maintaining and experimenting with their facial appearance.…

COMMERCIAL motivation coupled with a desire to make a difference in people’s lives is driving a new wave of social entrepreneurs in Singapore.

While social enterprise start-ups in Asia have traditionally been non-profit non-government organisations (NGOs), the new trend is for tech-savvy millennials to launch innovative and profitable, but also socially-inclusive projects.…

SOUTH AFRICA MULLS REMOVING OVERSEAS WORK TAX EXEMPTION

The South African National Treasury and the South African Revenue Service (SARS) have proposed a 2017 Draft Tax Administration Laws Amendment Bill that would remove a tax exemption for South African residents working overseas for more than 183 days (at least 60 days continuously).…

HONG KONG and Saudi Arabia has struck an agreement on avoiding double taxation so any Saudi Arabian tax paid by Hong Kong companies will be credited against tax payable on the same profits in the special administrative region. The same would apply to Saudi companies paying tax in Hong Kong.…

CONFECTIONARY manufacturers in India are having to grapple with their products and ingredients attracting a wide range of tax rates under the country’s new goods and services tax (GST), which started to be levied from July 1.

India’s GST Council, a body representing the central and state governments, has been deciding which goods will be covered by the zero, 5%, 12%, 18% and 28% tax rates allowed under India’s GST legislation. …

A SURVEY by the Nigerian government has shown how ubiquitous corruption is within Africa’s largest economy, with figures revealing that 95% of Nigerians are prepared to accept or offer a bribe. This is according to an August 17 report by Nigeria’s National Bureau for Statistics (NBS).…

Chinese multinational company Shandong Ruyi Technology Group Co has confirmed it is considering investing USD600 million into textile and garment manufacturing plants in the northern Nigeria city, Kano. Talks between the Kano State Investment Promotion Agency and officials of the company have reached an advanced stage with a memorandum of understanding expected be signed in the next few months, said a note from the agency.…