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Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.

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Daily news insights and analysis of the African business Landscape, covering from emerging startups to macroeconomics from across the 55 African Union member states com.

    Nigerian Customs Announces 90-Day Window for Import Duty Regularisation on Vehicles 

    Nigerian Customs Announces 90-Day Window for Import Duty Regularisation on Vehicles 

    The Nigerian Customs Service announced a 90-day window for regularising import duties on specific categories of vehicles.
    The Public Relations Officer, Abdullahi Maiwada, says Customs noted the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
    The NCS stated that all vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators and CAC FCT Command.
    They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.

    • 1 min
    Qatar Announces New Gas Output Boost with Mega Field Expansion

    Qatar Announces New Gas Output Boost with Mega Field Expansion

    Qatar has announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per annum before 2030. The new North Field expansion, named North Field West, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion plans. Qatar’s Energy Minister Saad Sherida al-Kaabi said at a news conference on Sunday. Qatar’s Energy Minister Saad Sherida al-Kaabi says recent studies have shown that the North Field contains huge additional gas quantities estimated at 240 trillion cubic feet, which raises the state of Qatar’s gas reserves from 1,760 [trillion cubic feet] to more than 2,000 trillion cubic feet. He says these results will enable them to begin developing a new LNG project from the North Field’s western sector with a production capacity of about 16 million tonnes per annum. The QatarEnergy chief says the firm will immediately commence with engineering works to ensure the expansion is completed on time.

    • 1 min
    Kenya Scraps Entry Fee for South Africans and Several Other Foreign Nationals

    Kenya Scraps Entry Fee for South Africans and Several Other Foreign Nationals

    Kenya has exempted passport holders from South Africa and six other countries from paying an unpopular entry fee introduced last month. A memorandum from Kenya's interior ministry and immigration department says the exempted countries had entered visa abolition agreements or signed bilateral visa waiver agreements with the East African state. Only travellers from the East African Community regional bloc were exempt from paying the money. In addition to South Africa, the exemption has been extended to passport holders from five other African states - Ethiopia, Eritrea, Congo-Brazzaville, Comoros and Mozambique. San Marino, Europe's third-smallest nation, is the only other country on the exemption list.

    • 1 min
    Africa's Largest Mosque Opens in Algeria

    Africa's Largest Mosque Opens in Algeria

    Algeria's President Abdelmadjid Tebboune officially opened The Great Mosque of Algiers, the largest mosque in Africa. It is also the third-largest in the world, after the mosques in Saudi Arabia's Islamic holy cities of Mecca and Medina. The mosque was constructed over seven years, costing more than $800m. It is expected to host prayers during the Islamic holy month of Ramadan, which begins in two weeks.

    • 49 sec
    Nigerian Customs Service to Use Forex Rate for Import duty

    Nigerian Customs Service to Use Forex Rate for Import duty

    The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import duty assessment. The Director of Trade and Exchange Department, Hassan Mahmud, says this measure aims to tackle the volatility and frequent updates on the customs website concerning the liberalisation of the foreign exchange market.

    • 52 sec
    Mali, Niger, Burkina Faso Withdrawal from ECOWAS Halts Projects Worth $500m

    Mali, Niger, Burkina Faso Withdrawal from ECOWAS Halts Projects Worth $500m

    The West African regional bloc, ECOWAS says the exit of Niger, Mali and Burkina Faso would be detrimental to the region’s economy including stalling projects worth over $500 million. It also stated that the authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region. The Chairman of the Authority, Bola Tinubu, says the issues though daunting, present an opportunity for ECOWAS to reaffirm its commitment to the vision of our founding fathers and the principles underpinning our commitment to peace, security, and regional integration.

    • 1 min

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