Togo records the highest proportion of female inventors who applied for patents in Africa and the world, between 1998 and 2017

Worldwide, Togo recorded the highest proportion of female inventors who applied for a patent between 1998 and 2017, 57.14% exactly. This was revealed in a recent study from the UK’s intellectual property office. 

The study which assessed 120 countries explored gender profiles in worldwide patenting.  

Read also: Report Shows Togo Ranks Top On Africa’s Visa Openness Index 

After Togo follows Uganda where the proportion of female inventors in patent applications stood at 44.55% over the period. 

The US and the UK are far behind respectively ranked 110th and 120th with the figure standing at 10.04% and 9.44%.

While countries like Togo and Uganda have recorded such astounding performances, data shows that the overwhelming majority of patents are filed by men. Indeed, last year, female inventors were only associated with 13.07% of all global patent applications.  

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Sierra Leone Launches Task Force to Tackle Human Trafficking

The growing trend of human trafficking which has become pervasive across the West Africa sub-region is attracting attention from the Sierra Leonean government as the country is fast becoming notorious as a source, transit, and destination country for thousands of children and women trafficked for forced labour and sexual exploitation every year. Officials say that though there is no reliable database to accurately measure the scope of the phenomenon in the country, it is believed to be affecting mostly children who are taken from their homes and forced to beg on the streets, or work in homes as houseboys, in mines or in plantations.

Mazda Bio, president of Sierra Leone
Mazda Bio, president of Sierra Leone

Add to this, there are cases of young Sierra Leonean women and girls who are scammed into paying hefty sums of money for fake employment offers in foreign countries – in the Gulf for instance – only to be coerced into modern slavery or sexual exploitation. Three years after the end of the country’s civil war which cost more than 50,000 lives and set the ground to human trafficking networks, Sierra Leone passed the Anti-Human Trafficking Act, thus recognizing the phenomenon as a major national issue. A National Task Force on Human Trafficking was established with the responsibility to coordinate the implementation of this Act, especially with regard to the enforcement of the law against trafficking.

Read also ; Sierra Leone Launches Visa On Arrival

But in 2017, only 9 per cent of the victims of trafficking identified by the Sierra Leone Ministry for Social Welfare, Gender and Children Affairs (MSWGCA) came from the Western Urban District where Freetown is located. A Senior Social Welfare Officer for Human Trafficking at the MSWGCA said criminal cases rely on victim testimonies, but this can be difficult to access since the Task Force is located in Freetown and most victims come from far away provinces. “Because victims of trafficking often cannot afford the expensive trip from their district to the capital to testify or present evidence, their cases are closed,” the officer added.

Last week, the International Organization for Migration (IOM) supported the MSWGCA in the decentralisation of the National Task Force in 14 of Sierra Leone’s districts to increase victims’ and potential victims’ access to information, protection and justice mechanisms, and avoid procedural delays related to prosecuting traffickers.

Read also: Sierra Leone is Africa’s Best Investment Destination-Koroma  

The new district task forces will be co-chaired by the MSWGCA and the Office of National Security (ONS), and composed of traditional and religious authorities, the police’s Family Support Unit, youth committees, motor bikers’ union, teachers’ guild and radio journalists. “Our aim is to bring the lifesaving services of the Task Force closer to the populations by bringing together key community members,” said Mangeh Sesay, National Project Officer for IOM Sierra Leone.

Through monthly meetings, it is expected that these new district task forces will contribute to collecting more data and testimonies to assess the scope of human trafficking in the country. In the future, task force members will also be trained in identifying, referring and providing immediate assistance to victims of trafficking.

IOM’s counter-trafficking activities in Sierra Leone are implemented in the framework of the Africa Regional Migration Programme funded by the United States Department of State’s Bureau of Population, Refugees, and Migration (PRM).

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Cameroon Announces Peace Breakthrough with Opposition Leaders

 

The government of Cameroon has announced it has achieved a significant breakthrough in its quest for dialogue with the opposition figures which led to the Military Court in Yaoundé military ordering for the release of Maurice Kamto, and all other opponents being held alongside him. This decision to release the opposition figures came after President Paul Biya demanded an end to the legal proceedings against them.

President Biya
President Biya

Sources quoting the President of the Military Court say that the court shall acknowledge the Prosecutor’s Office, record the stay of proceedings and order their release if they are not detained for anything other than what they are accused of. The over 102 detainees will be released after administrative formalities necessary for their release, the source said.

Read also: President Biya Offers Olive Branch to English Speaking Cameroonians

Mr. Kamto has been detained for close to a year after he was arrested with hundreds of his supporters following peaceful demonstrations organized to protest against the results of the last presidential election in Cameroon in which President Paul Biya was once again declared winner. Mr. Kamto and more than 90 of his supporters had since been prosecuted by the military justice system, including a charge of “insurrection”, a crime punishable by the death penalty, even though observers say that such a crime was no longer applied in Cameroon. Their trial began on 6 September and was supposed to resume last week until the decision from President Biya yesterday.

Mr. Biya had announced Friday evening through a tweet that he would stop the proceedings against “some” opposition leaders, including those from the MRC, without specifying whether Mr. Kamto was concerned. President Biya’s announcement came a few hours after the conclusion of the major national dialogue convened to try to put an end to the bloody separatist conflict in the country’s two English-speaking regions.

Read also : How Homeless Cameron Chell Built More Than Eight Startups Which Have All Been Successful 

In addition to Mr. Kamto, other personalities whose release has been ordered by the court are former economic adviser to President Biya Christian Penda Ekoka, the charismatic Cameroonian lawyer Michèle Ndoki, and the famous rapper Valsero, known for his texts critical of the government.

The detainees and activists are all members of the Cameroon Renaissance Movement (MRC), received warm applause from the people as they were chanting “Kamto, our president, the people have chosen you”. A refrain regularly chanted by his supporters since the re-election of Paul Biya, 86 years old, 37 of whom were in power, to the 2018 presidential election, whose results the MRC contests, considering that their candidate Kamto, who came second, had won it.

The day before, the President had already announced the end of the prosecutions and the release of 333 people arrested in connection with this crisis. Since the beginning of the year, international pressure on Yaoundé to demand a resolution of the crisis in the English-speaking West and to demand Mr. Kamto’s release has intensified.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

South Africa, Angola, Senegal and Equatorial Guinea Set to Launch Investment reports on Oil and Gas

 

Four African countries are set to launch investment reports on their oil and gas sector with aim to attract the right investors and quality investment in their emerging petroleum industry. Aside Angola and Equatorial Guinea, South Africa and Senegal, being new comers in the industry want to leverage on the knowhow of the traditional oil giants in the continent to promote their oil industry. The reports will be contained in the Africa Oil & Power’s (AOP) Africa Energy Series (AES) reports set for launching at the 2019 AOP conference which comes up from 9th to 11th of October, in Cape Town South Africa.

Nelisiwe Magubane, Chairman, Matleng Energy Solutions
Nelisiwe Magubane, Chairman, Matleng Energy Solutions

It is expected that ministers from South Africa, Senegal, Angola, and Equatorial Guinea will present the country-specific investment reports throughout the three-day conference; all delegates attending AOP 2019 will receive a copy of the AES reports says Nelisiwe Magubane, Chairman, Matleng Energy Solutions. Other organizations that will participate at the event are Power Africa Increasing Electricity Access, Gas Mega Hub Equatorial Guinea, Standard Bank Mozambique LNG FID. Moreso Adewale Fayemi, Managing Director, Total E&P South Africa will receive the Big Five Energy awards at the event.

Read also: Centurion CEO speaks to Chinese Oil and Gas Investors on African opportunities

The Africa Oil & Power’s (AOP) Africa Energy Series (AES) investment reports provides a broad outlook on the energy sectors of South Africa, Angola, Senegal and Equatorial Guinea, the AES investment reports are a compilation of resources, articles and interviews with key industry players examining the potential and challenges in each country’s petroleum industry.

The investment reports are a vital resource for investors entering or expanding their presence in the continent’s energy sector. Covering both macro and micro-dynamics, the AES reports are one of the few holistic and informed resources available for an otherwise information scarce industry. H.E. Gwede Mantashe, South Africa’s Minister of Mineral Resources and Energy, will launch the South Africa report on the first day of the AOP conference, followed by H.E. Mouhamadou Makhtar Cisse, Senegal’s Minister of Petroleum and Energy who will present the report on Senegal, which has been endorsed by H.E Macky Sall, President of Senegal as “the official publication documenting the immense investment opportunities within our oil and gas sector and within our country.”

Read also: African Development Bank and South Sudan Recruit Pan-African Centurion Law Group to Strengthen Capacity in the Oil & Gas Sector

Showcasing the country’s energy industry, the AES: Angola report will be launched on the second day of the three-day conference. Endorsing the report, the country’s President H.E. João Manuel Gonçalves Lourenço said: “At a time when our country stands resolute in its efforts to attract investment and promote partnership in all segments of the energy value chain, it has never been more critical to showcase the vision that our country has for its petroleum and gas industry to the rest of the world,”

Adding that, “I am honored to present the Africa Energy Series: Angola 2019 report as an official publication exploring the past achievements, future endeavors and untold investment opportunities present in our ever-growing oil and gas industry.”

H.E. Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea will present the AES: Equatorial Guinea 2019 report, which has been embraced by the country’s President, H.E. Teodoro Obiang Nguema Mbasogo as a means to honor the contributions of individuals, organizations, government and the private sector who have remained committed to the country’s development.

“I am delighted to present the Africa Energy Series: Equatorial Guinea 2019 report as the official publication documenting the Year Of Energy and detailing the oil and gas achievements of this country,” said President Mbasogo, while endorsing the country’s second AES investment report. The conference will be opened by keynote speakers H.E. Macky Sall, President of Senegal; Minister of Mineral Resources and Energy of South Africa, H.E. Gwede Mantashe, Minister of Mines and Hydrocarbons of Equatorial Guinea, H.E. Gabriel Mbaga Obiang Lima, and NJ Ayuk, Executive Chairman of the African Energy Chamber.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

Property Documents Now Registrable Online From Any Part of The World Under South Africa ’s New Law 

For users of land or  property investors in South Africa, a new bill has been signed into law by South African President Cyril Ramaphosa. The new law code-named ‘‘the Electronic Deeds Registration Systems Act of 2019’’ will enable property deeds (land or house papers) to be processed electronically. In other words, documents involving land or property transactions in South Africa can now be registered online from any part of the world. This is a remarkable feat and a potential improver in the ease of doing business for South Africa. 

Also signed into law include the Overvaal Resorts Limited Repeal Bill of 2019, the Property Practitioners Bill of 2019, and the Film and Publications Amendment Bill.

Here Is All You Need To Know

Electronic Deeds Registration Systems Act of 2019

  • The Electronic Deeds Registration System Act provides for the development of an Electronic Deeds Registration System — also known as e-DRS — through which South Africa will take advantage of the benefits offered by internet access, e-commerce and global computerisation in the management of security of property title.
  • The new system will enable the electronic processing, preparation and lodgement of deeds and documents by conveyancers and the Registrar of Deeds.

“It will also enable the registration of large volumes of deeds effectively; improved turnaround times for providing registered deeds and documents to clients; countrywide access to deeds registration services; enhanced accuracy of examination and registration; availability of information to the public, and security features including confidentiality, non-repudiation, integrity and availability,” South Africa’s Presidency spokesperson Khusela Diko. said.

This is set to greatly enhance security of title and the acquisition and disposal of fixed assets.

Potentially once the electronic system has been put in place, this may land a death blow to conveyancing lawyers or notaries public who previously notarised land documents.

Notable Provisions of the Law

  • Under the new law, potential registrants of  property title deeds in South Africa shall now do so online, instead of having to visit a physical land registry. The Chief Registrar of Deeds is vested with the duty to develop, establish and maintain the electronic deeds registration system using information and communications technologies for the preparation, lodgment, registration, execution and storing of deeds and documents.
  • Under the new law, any deed registered under this method is as valid as though it has been physically registered,executed and filed. More specifically, the law provides that subject to section 14 of the Electronic Communications and Transactions Act, a deed or document generated, registered and executed electronically and any other registered or executed deed or document scanned or otherwise incorporated into the electronic deeds registration system by electronic means is for all purposes deemed to be the only original and valid record.
  • Potentially once the electronic system has been put in place, this may land a death blow to conveyancing lawyers or notaries public who  previously notarised land documents. The new law provides that once the electronic system has been put in place, the preparation and lodgement procedures involving notaries public will be discontinued in respect of all deeds, documents or deeds registries. Consequently, the implication of this new provision would be that any deed or document electronically executed or registered, shall be deemed to have been executed or registered in the presence of the Registrar by the owner or by a conveyancer authorised by power of attorney to act on behalf of the owner, without needing to the notarisation of the notaries public.
  • The new law will also make conduct of searches or enquiries into land titles in South Africa easier. To that effect, South Africa’s Minister of Rural Development and Land Reform has been empowered to make regulations regarding the procedure and manner for accessing the electronic deeds registration system for information purposes.
  • Image result for Property stats South Africa
    Percentage of foreign buyers snapping up South African property. Source: Private Property

Read also: South African Real Estate Startups Shock Other African Startups With This New Move

Property Practitioners Act of 2019

The property market in the country also stands to gain from the newly signed Property Practitioners Act of 2019, which repeals the 43-year-old Estate Agency Affairs Act of 1976 (Act 112 of 1976).

“The Bill that the president has assented responds to the dynamic needs of the real estate industry and is aimed at improving the functioning of the property market, which includes regulating the buying, selling and renting of land and buildings,” said Diko.

Among other innovations, the Act establishes a Property Practitioners Regulatory Authority and provides for the appointment of the Board of this regulatory authority.

The Act also puts in place better monitoring mechanisms, including requiring inspectors to obtain warrants to enter premises.

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

How Startups In Nigeria Can Benefit From Pioneer Status Tax (Free Tax) Incentive

In Nigeria, government has over the years, put in place numerous tax incentives, one of which is the incentive of Pioneer Status to help businesses and startups  reduce the burden of the first few years of being in business. The incentive of Pioneer Status is a tax strategy used by government across the world to encourage investments in industries that were either non-existent at all, or the country did not have sufficient presence for its economic development.

The Nigerian federal government has over the years expanded the range of industries that would benefit from the Pioneer Status tax incentive under the Nigerian Industrial Revolution Plan, NIRP, and the Economic Recovery and Growth Plan, ERGP, by promoting the 27 industries and products in the approved status document.

Here Is All You Need To Know

The pioneer status applies to companies or startups in their first year of business or operations in Nigeria. Consequently, companies or businesses older than a year would not benefit from the pioneer status incentive. Again, businesses that have existed for several years in a particular sector may not enjoy the pioneer status, except such companies or startups branch into a new line of business covered under the list of 27 or more new industries and products.

Clearly, established companies such as Payporte, Konga or Jumia who are already leaders in the e-commerce business sector as well as those in the music industry would not enjoy tax exemption by the government under the new regime.

Image result for Tax stats Nigeria
Nigeria’s GDP By Sector contribution -Source: NBS

Industries Covered By The Regime Include:

Agriculture:

Startups or new businesses under Nigeria ‘s agricultural sector, who are within the first one year of their business can get tax break for a period of three years or more (under the pioneer status). The areas covered under the agricultural sector include:

  • Processing and preservation of meat and poultry
  • Production of meat/poultry products
  • Processing of cocoa
  • Marine and Freshwater fishing and aquaculture.
  • Growing of all crops.

Manufacturing:

This is where Nigeria hopes to diversify its oil-dependent economy to. Areas covered under the manufacturing sector include:

  • Manufacture of starches and starch products
  • Manufacture of animal feeds
  • Tanning and dressing of leather
  • Manufacture of leather footwear, luggage and handbags
  • Manufacture of household and personal hygiene paper products, like tissue papers etc.
  • Manufacture of paints, vanishes and printing ink.
  • Manufacture of plastic products (builders’ plastic ware) and moulds
  • Manufacture of batteries and accumulators
  • Manufacture of steam generators
  • Manufacture of railway locomotives, wagons and rolling stock
  • Manufacture of metal-forming machinery and machine tools
  • Manufacture of machinery for metallurgy
  • Manufacture of machinery for food and beverage processing
  • Manufacture of machinery for textile, apparel and leather production;
  • Manufacture of machinery for paper paperboard production.
  • Manufacture of plastics and rubber machinery

Information Technology And Communication:

  • E-commerce services
  • Software development and publishing
  • Publishing of Books.
  • Telecommunication apart from GSM telecommunication

Entertainment:

  • Motion picture, video and television programme production, distribution, exhibition and photography;
  • Music production, publishing and distribution, such as Record Labels etc.

Environment:

Waste treatment, disposal and material recovery, such as recycling.

Also check: Practical Guides On How You Can Register A Business Name In Nigeria Yourself

Real Estate:

  • Real estate investment vehicles under the Investments and Securities Act, such as Real Estate Investment Trusts,REICs etc.
  • Construction and operation of non-residential buildings (Shopping malls, hotels;Office buildings; building for industrial production;warehouses; low and middle-income housing estates of single and multi-family buildings,etc)

Business :

  • Business Process Outsourcing

Securities:

  • Mortgage backed securities under the Investments and Securities Act

Mining:

  • Mining and processing of coal

Construction:

  • Construction and operation of water projects
  • Construction and operation of roads, railways and airports
  • Electric power generation,transmission and distribution, among other.
  • Construction of utilities generally.

Steps To Take To Obtain Pioneer Status Certification:

  1. Make sure you apply within the first one year of doing business and that you fall within the categories described above.
  2. Get your documents ready. Documents in this case include financial statements, certificate of incorporation and other incorporation forms, project documents such as Land Documents, Building drawings, Construction agreements, trademark certificate, title documents and invoices of assets of the company, Tax Identification Number, Tax Clearance Certificate, Bill of quantities and any other document pertaining to your projects.
  3. Choose a date to make presentation to the Nigerian Investment Promotion Commission about your project. Furnish the Commission about your company as well as your financial statements.
  4. Once presentation of your project has been made to the Commission, and NIPC is satisfied, you would then be requested to make payment of the application and due diligence fees. Make payment to the Commission.
  5. At this stage, you would now make application to the Commission, attaching both the soft and hard copies of the relevant supporting documents. NIPC will review your application and conduct intense legal and compliance checks on your project, after which it fixes a date for a verification visit to your facility.
  6. At this stage, once the NIPC declares your application successful, you will then be requested to make payment of the service charge. NIPC, thereafter, issues you with an Approval In Principle (AIP) once payment has been made, which you may collect in person, or have sent to you by courier. A copy of the AIP is forwarded by the Commission to the tax office and the Industrial Inspectorate Division.
  7. The next stage is to complete an application form for Production Day Certificate (PDC) and submit same to the Industrial Inspectorate Division (IID) under the Federal Ministry of Trade and Investment alongside the soft and the hard copies of the necessary documents. IID will review the application and schedule an inspection visit to the site of the project for the purpose of determining the production day of the project.
  8. Satisfied, the IID will send you a mail to that effect,as well as a copy of the Production Day Certificate, at the same time notifying the NIPC.
  9. Once notified, the NIPC will issue you a Pioneer Status Incentive Certificate and send copies of the PSI Certificate to both the tax office (FIRS) and the IID
  10. The whole process takes a minimum period of 25 weeks (approximately 6 months) to be completed.
  11. You may however get yourself a tax consultant or a lawyer who does the work for you while you run your business.

Bottom Line: 

Applying for tax exemption in Nigeria under the Pioneer Status tax incentive is one of the strategies organised businesses and startups should consider in their earliest years. This is because no matter how you how see it, your business must one day account for its tax returns; for instance when it is going on IPO, or about to be acquired by external investors who would prefer a more detailed documentation on the legal status of the business. 

On the other hand, you can only imagine the heavy job of having to fulfil numerous tax and levy obligations within the first year of being in business, at the same time struggling to raise more capital or manage the fast depleting funds within your disposal. 

So exploring the alternative of pioneer status tax incentive in your startup’s earliest years may be one of the ways to legally run away from taxation in Nigeria. This will allow you to worry only about the growth of your business. 

Advice: 

Find your startup a good tax attorney or expert in your startup’s earliest years so that the mistakes or lack of compliance with regulations and local laws in the past do not come back to haunt your startup in the future when your startup is ready for the next leap. 

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

Thomas Cook back in business in Mauritius

Thomas Cook India Group (TCIL) is in a state of panic since this company is independent of Thomas Cook UK and backed by Fairfax Financial Holdings (Fairfax), a Canada based multinational. It makes the Indian company a completely different entity since August 2012, The only common element is the usage of the brand name for which TCIL holds an exclusive brand license covering the regions of India, Sri Lanka, and Mauritius until the end of 2024.

Post transfer of its entire stake in TCIL to Fairfax, Thomas Cook PLC in the UK ceased to be the promoter of Thomas Cook India from August 2012 and since then, Thomas Cook UK has had no financial or business stake in Thomas Cook India.

The last seven years have been fruitful for Thomas Cook India, as it continues to grow and build a legacy as an independent entity with presence across 29 countries across 5 continents, including Mauritius making it one of the largest travel companies in the Asia Pacific region.

India’s S&P Company — CRISIL’s credit bulletin reflects that the ratings of Thomas Cook India remain unaffected from the bankruptcy of Thomas Cook PLC in the UK and Europe; Thomas Cook India’s dominant position in the foreign exchange business and strong brand equity in travel-related services, a comfortable capital structure, and adequate liquidity.

Mr. Madhavan Menon, Chairman & Managing Director, Thomas Cook (India) Ltd. (TCIL), reiterated, “In light of media reports regarding the collapse of Thomas Cook PLC in the UK and Europe, it is important to reiterate that it is business as usual for Thomas Cook India which is a completely independent entity, acquired by Canada based Fairfax Financial Holdings in August 2012 from Thomas Cook PLC in the UK. The collapse of the Thomas Cook Group in the UK and Europe has no impact whatsoever in terms of ownership, business, people, technology or processes to Thomas Cook India.”

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

SportPesa lays off 453 after closing Kenyan operations

SportPesa has announced that it has made its 453 Kenyan employees redundant after closing its operations in the country, as it urged the country’s authorities to repeal the 20% excise tax rate on all stakes that caused it to withdraw from the market.

The operator had been in the midst of a long dispute with Kenyan operators, centred on a different tax, since July, but this appeared to be approaching an end after what a SportPesa spokesperson described as “positive discussions with the Kenyan Revenue Authority” in late August.

Read also: SportPesa Becomes The First Casualty Of Kenya’s Anti-Gambling Taxation

However, On 19 September, the Kenyan Parliament’s Finance Committee proposed a new 20% excise tax rate on betting stakes in the 2019/20 budget, an increase from the 10% stake which the treasury proposed in June.

On 25 September, MPs voted the budget through, including the 20% tax. SportPesa said in a statement that it would not operate in the country until the rate is changed.

The company confirmed to iGaming Business today (4 October) that the closure of its business meant that all of its employees in Kenya would be laid off.

“We regretfully closed our operations in Kenya as a result of a long-running hostile regulatory and taxation environment in the country,” a SportPesa spokesperson said. “This included a recent decision by the Kenyan legislature to impose a 20% excise tax on all betting stakes, which is based on a fundamental misunderstanding by the Kenyan treasury of how revenue generation works in the bookmaker industry. Such taxes render the betting sector in Kenya commercially unviable.

“As a result, we have been forced to make 453 employees in our Kenyan operations redundant, which was an extremely difficult decision for the company to take.

The spokesperson said that, through layoffs, the new tax will end up resulting in a significant loss of tax revenues for the Kenyan government.

“This means that in addition to the billions of Ksh in lost government revenues that will result from the closure of betting companies’ operations, the livelihoods of taxpayers across the country are also now directly impacted, as are the many individuals that they themselves may privately employ, such as domestic staff,” the spokesperson said.

“The economic and social impact of the government action therefore continues to be felt by Kenyan business and Kenyans themselves, with many individuals now without employment and the important social investment in grassroots sports delivered by betting companies now under threat.

“We urge the Kenyan government to reconsider its current agenda.”

In August, Kenyan president Uhuru Kenyatta called upon the country’s lawmakers to pass a total ban on gambling in the country,

 

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world

We Will Turn Tourism into an Engine of Economic Growth — Memunatu Pratt

Sierra Leone

Hon. Memunatu Pratt, Sierra Leone’s Minister of Tourism and Cultural Affairs is working diligently to actualize President Julius Maada Bio’s administration vision of promoting tourism as a catalyst for diversification of the economy. In this interview, she speaks on the efforts of the Ministry to transform Sierra Leone into a destination of choice for tourists. Excerpts:

 

WHAT is your strategic plan to transform Sierra Leone’s tourism industry?

Tourism is one of the central pillars of the present administration’s economic diversification drive. The strategic plan is to harness the country’s tourism potential in order to transform Sierra Leone into a resilient economy.

The New Direction Master Plan of the Government has identified certain critical areas for the transformation and diversification process. They include the review and upgrade of all tourism-related laws, regulations and policies to ensure ongoing consistency with global best practices; the rehabilitation of historical and cultural sites geared towards attracting domestic and international tourists and business travelers; the enhancement of the capacity of actors involved in the management of tourism; and the development of tourist resorts and more extensive supporting infrastructure.

Read also : Young Rwandans to Gain from Strategic Partnership in Tourism and Hospitality

Since taking up office, the Ministry has been working round the clock to actualize the master plan. The Ministry and the National Tourist Board have engaged in several activities to convey Sierra Leone’s fitness and readiness as a top destination for tourism. These efforts will continue in collaboration with other Ministries, Departments and Agencies (MDAs) and partners.

Hon. Memunatu Pratt, Sierra Leone’s Minister of Tourism and Cultural Affairs
Hon. Memunatu Pratt, Sierra Leone’s Minister of Tourism and Cultural Affairs

Being only six hours away from Europe, eight hours from the US and three hours from Lagos, West Africa’s largest city, Sierra Leone has a splendid combination of beautiful white sandy beaches, vibrant tropical forests teeming with exotic wildlife, breath-taking mountains, tropical rain forest, and excellent climate. With the influx of international brands such as Hilton and Radisson Blu which are investing in our tourism sector, coupled with the consistent surge in the number of tourists visiting Sierra Leone annually since 2016, tourism has gained momentum and  the country is back on the world map as a tourist destination. In fact, since 2016, Sierra Leone has been rated among the world’s fastest-growing travel destinations.

The National Tourism Policy and the National Ecotourism Policy, which seek to attract up to 20,000 international and 30,000 domestic ecotourism visits by 2025 have provided blueprints to guide the sustainable development of the sector. To continue building on this momentum, the Ministry of Tourism and Cultural Affairs in collaboration with the Ministry of Transport and Aviation, Immigration recently launched the visa-on-arrival policy for Sierra Leone.

Read also : Numu Capital Invests In Egypt’s Medical Tourism Startup

To continue the transformation of the country into a competitive tourism destination, a series of regulatory frameworks have been introduced. They include the National Tourism Island Development Policy; Review of the Cultural Policy; the introduction of the Entertainment Policy, which will pave the way for the establishment of the Entertainment Commission; the Tourism Wildlife Development Policy; and the review of the Tourism Development Act 1990, which is in progress.

We are quite aware that there are endless possibilities in the tourism sector, given the diverse ecology of Sierra Leone. The Government through my Ministry will continue embarking on activities that would enhance the environment for tourism operators such as providing reduced visa costs for target markets and reviewing the prices of air tickets for travelling to the country. We are also supporting the formation of the Tourism Federation and other stakeholder associations to enhance public-private partnerships (PPPs) whilst capitalizing on digital and technological advances globally to improve the government’s revenue generation drive and showcase the potential of the sector digitally.

 

How is the Ministry creating awareness about the country’s tourist attractions to make it a destination of choice for tourists?

Stories of our experience as a country in the 90s and the recent Ebola scourge have sort of tainted Sierra Leone, especially on the internet.  But these are challenges we have not only overcome but also learnt lessons from as a nation, and we are on a positive trajectory. The entire country is stronger, safer and healthier than it has ever been.

In recent times, we have been more strategic in telling the world about our positive trajectory and creating awareness about the country’s tourism attractions. My Ministry and its agencies in collaboration with other stakeholders have been engaging the international media such as the BBC, Aljazeera, Eturbu news among others. We have also been organizing press conferences, trade fairs, media engagements and promotional tours. We have equally been hosting globally renowned tourism /travel personalities such as Dr Jane Goodall (DBE, anthropologist and UN Messenger of Peace), the world’s foremost expert on chimpanzees, and Jessica Nabongo who is on the quest to become the first black woman to travel to all countries. Familiarization visits are also being organized for travel writers, journalists, tour operators from key source markets to have a first-hand experience of the diverse offerings of the country.

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To enhance domestic tourism, the Ministry, in collaboration with other MDAs, organized the Agro-tourism festival in Bonthe and the National Cultural Festival in Kabala. The Ministry has hosted and facilitated several entertainment shows, festivals and concerts across the country. It spearheaded the first National Entertainment Conference and the Establishment of the National Entertainment Foundation which is geared towards developing a vibrant tourism and cultural sector.

As part of our rebranding efforts, we will continue to collaborate with tour operators, travel agencies, travel journalists, Incomers, television channels, airlines hotels and other tourism-related companies along the entire tourism sector ecosystem. So far, these interventions have contributed to the increase in business transactions for local tour operators, hotels, airline operators, local sea transportation as well as cultural and historical sites. The Ministry has supported the collaboration with well- experienced tourism representatives in the UK (Kamageo), Germany (Hana Kebler), France (Olivier Thierry) and the USA (Corner Stone).

The thrust of our message is that Sierra Leone is a peaceful, stable, democratic country and an investment-friendly tourism destination. Our greatest asset is our warm, friendly and hospitable people. Some of the world’s endangered species of chimpanzee, baboon, monkeys, jungle elephant, rare species of birds, butterflies, pygmy hippos and a variety of antelopes and buffalo families can be found in our tropical forests.

Government is making concerted efforts to develop facilities along all these beaches to improve the tourism market of Sierra Leone.

Apart from the beaches, the country offers visitors its historical heritage and is a site for cultural tourism as many African-Americans trace their roots back to Sierra Leone including well-known celebrities like Denzel Washington, Idris Elba and many more.

With all these endowments, the present administration is not only scaling up investments in the labour force but providing the requisite infrastructure to encourage investments in the tourism industry.

 

How is Sierra Leone exploring cultural tourism which is an emerging and sustainable form of tourism?

Culture is one of the most profound concepts to have emerged in modern times. This is so because the boundaries of the social setting are identified by two significant concepts – society and culture. We view cultural tourism as a low hanging fruit and the most readily available component of our sustainable tourism development plan. The cultural/creative industries are readily available, cheap and easy to harmonize for us to harness the potential of our cultural heritage tourism to the fullest degree. We are right now creating the necessary framework and undertaking infrastructural development to make the sector viable and competitive in the promotion of cultural activities in the country. To this end, a new Cultural Village is being constructed at Mabala, Koya Region, and Western Area; a National Arts Gallery is to be built; the Cultural Policy will be upgraded into an Act and Policy for Arts, Culture and Entertainment is being developed.

We also intend to ratify and domesticate the UNESCO conventions. Other activities we are engaging in to boost cultural tourism include Community outreach and trainings for arts, culture, entertainment practitioners and stakeholders, organizing of Special Annual end-of-year Agro-Tourism and cultural festivals, holding of events and exhibitions at regional levels.  We will continue to organize the Annual Mid-year National Cultural Festival and Exhibition dubbed “Sierra Leone Carnival/ Faces”; the conducting of research and documentation of Arts, Culture and entertainment resources and products. We will equally establish a Heritage Commission.

 

How is the Ministry utilising the country’s breath-taking natural landscape resources as a catalyst for economic development?

We have embarked on a range of activities to develop the natural landscape for the stimulation of job opportunities, income generation, investment, trade and skills training opportunities. This is being done through the opening up of coastal communities. The Ministry has prepared projects in partnership with the World Bank and other development partners to provide safe and reliable sea transportation to these communities to open them up for domestic and international tourism.

In the same vein, we will implement the Island Development and the Wildlife policies in strong partnership with the private sector.  Plans are under way for a National Consultative Conference for all Paramount Chiefs to enlighten them on how they should re-assert their authorities as crucial stakeholders in the protection and preservation of cultural assets in the country. We are unrelenting in our efforts to preserve and conserve our environment.

 

What are the prospects of Sierra Leone’s tourism industry?

There are bright prospects for Sierra Leone’s tourism industry. With the priority government is giving to tourism, the country stands to benefit from the current favourable global tourism trend, as preparation is ongoing to improve on active networking in the African continental and sub-regional tourism markets. Outside the continent, the Western European market is also showing interest in Sierra Leone as a preferred destination. We will also tap the North American market as soon as airline services to the region are established.

With tourism still in its infancy in Sierra Leone, it will be a long-term advantage for the international tourist industry to invest in the sector. In adopting planned and regulation development approach, Sierra Leone, by and large, is still in a position to ensure environmental conservation while expanding its tourism sector with a view to enhancing the quality of its tourist sites.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.

African Youth See Bitcoin as Opportunity to Build Entrepreneurial Ventures

Crypto Currency

Young Africans are searching for opportunities that will help engender their enterprising spirits and remove barriers to business initiatives, and Blockchain technology seem to be the answer to that expectations.  This comes as the role of entrepreneurship in driving Africa’s prosperity in the Fourth Industrial Revolution (4IR) was among key topics at the last World Economic Forum (WEF) on Africa which was held in Cape Town recently.  To this end, Paxful , a leading peer-to-peer global bitcoin marketplace, is excited about the improving economic outlook for Africa and entrepreneurial growth opportunities.

Ray Youseff, CEO and co-founder of Paxful
Ray Youseff, CEO and co-founder of Paxful

With nearly 3 million users globally and Africa being its fastest-growing customer base, Paxful has a unique insight into the development of the crypto economy across the continent. The company is seeing an increase in the amount of entrepreneurial activity on its platform. Many young Africans see bitcoin as an opportunity to develop commercial ventures; users set up side-hustles and their own full-time businesses including remittance businesses. Paxful has found that users from Nigeria, Ghana and South Africa have been the most active to date this year with many operating drop-shipping businesses, payment services, as well as import-export ventures amongst others.

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Intra-regional trade is one of the highest priorities for African governments, as evidenced by initiatives such as the historic African Continental Free Trade Area (AfCFTA) agreement. By some estimates, the AfCFTA could boost Africa trade by more than 33% and generate billions of dollars of GDP gains for the continent over the long term. Various studies have shown that the digital economy presents an opportunity for Africa to deepen trade relations and boost the continent’s GDP.

Already Paxful is seeing that many African users prefer to trade with each other – territories like Nigeria, Kenya, Ghana, and South Africa lead intra-Africa trade activity on the Paxful platform. Over the years, Paxful has engaged many business owners who see a future for themselves in the crypto space. Beyond the big players, there are many ambitious up and coming bitcoin savvy business owners who focus on the African market. An entrepreneur-born in Malawi, named Grey, helps consumers buy and sell bitcoin. He has managed to expand his business to employ staff that helps consumers in Malawi to navigate the crypto space to better meet their financial needs. He also mentioned that many of his customers have limited access to credit cards, opting instead to buy bitcoin in order to purchase products and services on various e-commerce and streaming websites. Some of his customers will resell the products they buy for a profit. Others will keep the products for personal use or send them to loved ones.

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Some of Grey’s customers even use bitcoin to purchase cars from vendors in Japan for resell in various African countries. Interestingly most of his customers find him on social media and through messaging apps.

Social development organizations that operate in Africa like Zam Zam Water and Grow Educare Centres have also expanded their sights to include cryptocurrency in raising funds for their projects. Zam Zam Water has built schools and pays teacher salaries for communities in need in Rwanda with money raised in the bitcoin industry. Bitcoin funds raised by Grow Educare Centres has bought supplies – including books, stationery, and toys – for low-fee kindergartens that support disadvantaged communities.

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“While African entrepreneurs continue to face many lingering challenges, we have seen first-hand on our platform how the opportunity to use technology and innovate can achieve greater financial inclusion as well as socio-economic development and job creation,” Ray Youseff, CEO and co-founder of Paxful.

“As an African-born tech entrepreneur myself, my hope is that African governments, regulators and policymakers will create the right operating environment for the continent’s young Digi-entrepreneurs to succeed,” he added.

 

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry.