Africa

A new, dangerous job in Mogadishu: tax collector

"Militias extorted cash from civilians during much of the last two decades of chaos. Now Mogadishu has a government in place, but shopkeepers view the taxman as the latest in a long line of troublemakers. That makes tax collection one of the riskier jobs in Mogadishu: Five tax collectors have been killed so far this year, following the killings of 10 last year. The idea of paying taxes for social services seems outlandish in a nation where few have seen functioning hospitals or schools. One obstacle tax collectors face is philosophical: If it's an established fact that government leaders in Somalia steal tax money, why should citizens pay?" Continue reading →

Continue ReadingA new, dangerous job in Mogadishu: tax collector

US announces $23 million bounty for African group leaders

"In an unprecedented move, the US has posted up to $23m in rewards to help track down five leaders of armed groups active in West Africa. The highest reward of $7mn was offered on Monday for the Boko Haram leader Abubakar Shekau, who last week called on those sympathetic in Afghanistan, Pakistan and Iraq to join the fight to create an Islamic-governed state in Nigeria. The State Department's Rewards for Justice programme also targeted al-Qaeda in the Islamic Maghreb (AQIM), offering its first ever bounties for wanted fighters in West Africa." Continue reading →

Continue ReadingUS announces $23 million bounty for African group leaders

The Smart Money is Investing Here…

"Wal-Mart paid $2.4 billion for Massmart, a major retailer in South Africa, in 2011. This year, Coke is launching solar-powered kiosks to reach some of the remotest parts of sub-Saharan Africa – parts that lack electricity – with ice-cold soda. Pepsi announced a $30 million manufacturing plant in Kenya to compete against Coke for market share of the continent. And Yum! Brands is expanding quickly, adding another 50 stores in Africa this year alone. Google is also investing in a solar plant in South Africa and developing high-speed internet access across the continent." Continue reading →

Continue ReadingThe Smart Money is Investing Here…

Malawi man charged with ‘breaching the peace’ for calling president ‘stupid’

"Police in Malawi said Tuesday they had arrested a 37-year-old man and charged him with breaching the peace, after he allegedly called President Joyce Banda 'stupid.' Japhet Chirwa is believed to have called the head of state 'stupid and a failure' after a failed bid to change the name in his passport, police spokesman Maurice Chapola told AFP. 'He got furious and started talking ill of the president,' said Chapola, speaking from the northern city of Mzuzu. Chirwa has been charged with conduct likely to cause a breach of the peace, which could carry a fine or a six-month custodial sentence." Continue reading →

Continue ReadingMalawi man charged with ‘breaching the peace’ for calling president ‘stupid’

Chris Becker on South Africa, Gold and the Ludwig von Mises Institute

"We've seen huge growth in private education, private security and private medical industries in recent years, without which we would have seen rapidly declining living standards of South Africans. In a micro sense this inefficient and disorganized state leaves the space for quite a lot of personal liberty and allows people to get on with things outside of government control. With this strong central planning and regulatory ethos, if the government could actually follow through with its grand plans, South Africa would be a very unfree place. I call it 'dangerous efficiency.'" Continue reading →

Continue ReadingChris Becker on South Africa, Gold and the Ludwig von Mises Institute

Barclays account shutdown raises Somali fears

"Barclays bank is closing about 100 UK accounts held by cash transfer businesses, over fears they are being used for money laundering. The businesses are vital for Somali expatriates sending remittances back home, where banking facilities have collapsed. Aid workers say the service is a 'lifeline' for 40% of the Somali population, who rely on the transfers. It is feared that the cash transfer business could now go underground. Barclays is the last major UK bank that still provides such money transfer services to Somalia, which has an estimated 1.5 million of its nationals living overseas." Continue reading →

Continue ReadingBarclays account shutdown raises Somali fears

Illegal gold mining costs Uganda millions in lost revenue

"As a result of Uganda's central bank deregulating gold sales, local production has increased. The precious metal accounts for 30% of Uganda's export revenue. Illegal mining is having such an impact that experts say it must be stopped in order to shore up revenue collection. A government official said the issue is so alarming that the country exported none of its own gold in April, while Kenya exported 40 kilograms of smuggled Ugandan gold. Some citizens have said police are not responding to calls for them to act on illegal activities. Other reports indicate government officials are profiting from illegal operations through illicit tax collection." Continue reading →

Continue ReadingIllegal gold mining costs Uganda millions in lost revenue

Why South Africa’s Currency Has Been Getting Destroyed

"The South African rand (ZAR) is getting absolutely brutalized lately. The currency has fallen from levels around 9.00 against the U.S. dollar just three weeks ago to levels around 10.00 today. 'The key negative risk from headlines out of the mining sector wage negotiations is playing out in a text book fashion – alongside plummeting gold prices and rising [U.S. Treasury] rates – creating a perfect storm for ZAR,' write Bank of America Merrill Lynch currency strategists. The ongoing unrest in South Africa's mining sector – which relies heavily on exports of gold and other metals – is dragging down the country's economy." Continue reading →

Continue ReadingWhy South Africa’s Currency Has Been Getting Destroyed

Congress OKs General Atomics deal to sell Reaper drones to France

"The NATO-led air war in Libya in 2011 and the French military intervention in Mali this year have underscored France’s shortage of surveillance drones, which have transformed warfare in the past decade since being introduced on a large-scale in the US wars in Iraq and Afghanistan. In justifying the sale, the agency said it is 'vital to the US national interest to assist France to develop and maintain a strong and ready self-defense capability' and that the drones would bolster the intelligence and surveillance capability of France while also ensuring American and French forces can operate jointly." Continue reading →

Continue ReadingCongress OKs General Atomics deal to sell Reaper drones to France

One Million Children Labor in Africa’s Goldmines

"The U.S. Department of Labor also is funding a four-year, $5 million project in Burkina Faso, one of the world's poorest nations, to reduce child labor in cotton farming and gold mining. The grant will be used to help raise awareness about child labor laws and build government capacity to monitor and enforce the laws, said Eric Biel, acting associate deputy undersecretary for the Bureau of International Labor Affairs. Small-scale gold mining began here in earnest in the 1980s as droughts and famines forced families from farms and into mines to earn a living. It remains a family affair." Continue reading →

Continue ReadingOne Million Children Labor in Africa’s Goldmines