Taxing Africa’s Shadow Economy

Formalizing the informal sector through effective and fair taxation policies could yield significant benefits. Experts suggest that taxing the informal sector could increase government revenue by 15% to 25% in many African countries. This additional income could fund critical infrastructure projects, expand healthcare and education systems, and reduce reliance on foreign aid and debt.

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Business News Feb 14

The Democratic Republic of Congo (DRC) has urged Formula 1 (F1) to cancel discussions with Rwanda over hosting a Grand Prix, citing Rwanda’s alleged support for the M23 rebel group, which has caused mass displacement and violence in eastern DRC. DRC’s Foreign Minister, Thérèse Kayikwamba Wagner, warned F1 that associating with Rwanda could tarnish its reputation, calling it a “blood-stained” deal.

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