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The Uganda Revenue Authority (URA) has announced that the half year revenue performance for the financial year 2013/2014 has registered the largest ever deficit of USh 246.93 billion (Ugandan Shillings, equal to about US$ 99 million).
Tony Elumelu, the Nigerian entrepreneur who built up Lagos-based Heirs Holdings into an investment powerhouse, has stars in his eyes. That is to say, he has recently invested in a US satellite technology company called Planet Labs.
Agricultural sector development in Africa is vital for achieving food security goals. Development of this sector also plays a significant economic role in maintaining sustainable economic growth across the continent
The Partner and Global Chairman, Energy and Natural Resources Sector, KPMG, Mr. Michiel Soeting, has said that the discovery of shale gas in the United States, which is a major importer of Nigeria’s crude oil, would pose a threat to Nigeria and at the same time provides an opportunity for the country to diversify its economy.
Africa is home to more than one billion people, presenting a massive potential consumer market. Moreover, population growth remains rapid, so much so that the UN forecasts the continent’s population will surpass the 1.5 billion mark by 2030 and the two billion mark 15 years later.
In retrospect, looking back at Lunch with our Leader,our guest on 29 August 2013 was Partner and Head of Management Consulting for KPMG in Eastern Africa: Mahesh Punia. Mahesh currently helps global firms with their strategies for establishing in Eastern Africa.
Zambia is an attractive investment destination offering various lucrative investment opportunities in agriculture, manufacturing, energy, tourism and mining, among others.
This is an exciting time to invest in Zambia. Zambia has a growing economy, young workforce and investments into infrastructure that provide a foundation for sustainable development.
Many foreign companies, from multinationals to family businesses, are looking towards Africa and its strong growth curve with a mind to investing, and the Private Equity (PE) route, in its infancy everywhere save for South Africa, is proving very attractive
With Europe’s economy in distress and Africa’s in a growth phase, many of Europe’s small and medium enterprises (SMEs) are reconnoitring Africa and its business opportunities.
KPMG is upgrading its Libyan presence from a representative office to a full-service member firm, in what will be seen as a welcome vote of confidence in the new Libya.
Separated from the rest of the African continent by the Sahara and Atlas Mountains, Morocco is a North West African country with close ties to the Mediterranean. The Moroccan city of Marrakech is a popular tourist destination, along with the country’s pristine beaches and other imperial cities.
Kenya is considered the Gateway to East Africa, and has been included on our Consumer Story list of Africa’s most promising countries for retail development. Key to its position on our list is the rapid population growth and good economic growth prospects.
Egypt is home to more that 82 million people, which is the third largest population in Africa and the largest in the Arab world. Recently, the Northeast African country has been plagued by political instability and waves of protestor violence, impacting a number of sectors, including business and tourism.
Ghana continues to experience impressive and sustained growth across a number of sectors, and for this reason the country appears on our list of key economies in Africa. It is important to note that the country registered one of the highest economic growth rates in the world in 2011.
Ethiopia is one of the most promising regions in Africa for retail development over the next two decades, in our opinion. Ethiopia’s promise can be attributed to the combination of its large population size and good prospects for economic growth.
The rise of the Angolan economy, over the past 10 years, has been nothing short of spectacular. From an economy plagued by hyperinflation and suffering from the consequences of decades of civil war in the early 2000s; today, the southern African economy is one of the fastest growing in the world and continues to attract billions of dollars in foreign investment.
Following on from our Africa Consumer Story: Demographics post, we take a look at macroeconomic drivers and spending patterns. Africa’s economic performance has improved greatly since the turn of the century, leading to large increases in GDP/ capita and lower levels of poverty.
KPMG Africa has published a report entitled Africa’s Consumer Story. The aim of this study was to analyse the key drivers of the retail market in Africa, including key demographic and macroeconomic factors. In addition, we considered the broad outlook for the sector and highlight the countries we expect will have the biggest growth rates in the sector over the forecast period. In this article, we take a look at the Demographics component of the study.
Following on from our previous post, Country Focus Seminar: Mozambique, we take a look at some of the challenges and opportunities cited by Miguel Alvim, Advisory Managing Partner at KPMG Mozambique.
On 20 June 2013, KPMG hosted the Africa Exchange’s Mozambique Country Focus Seminar in Johannesburg, South Africa. His Excellency H.E. Fernando Fazenda of the High Commission of the Republic of Mozambique to South Africa set the scene for the discussions, noting that Mozambique has various investment opportunities and is open for business. In addition to the opportunities that abound in Mozambique, Fazenda noted that there are potential challenges facing those wanting to invest in the country.
On 13 June 2013, the 2013-14 Budget was presented in the Ugandan Parliament. Uganda Budget Brief is a general guide summarising some of the main features of the proposed Budget, including Economic and Budget commentary, and Tax Highlights.
South Africa, Nigeria and Ghana have over the years been the largest recipients of Foreign Direct Investments (FDI) within the African continent as they jointly accounted for about 50% of the FDI inflow into Africa in 2011.