Vodacom Nigeria Gets New MD
The Nigerian arm of cloud and digital services provider, Vodacom has appointed a new MD. The new managing director, Valentine Chime, has been handpicked by the board of directors to spearhead the company’s drive to become Africa’s leading cloud service in the wake of COVID-19 according to Nairametrics. Mr Chime was before now an accomplished asset management professional with extensive experience in private equity. Before his appointment, he was working with Aruwa Capital, a West African private equity venture. He has also worked with Kaizen Venture Partners, another private equity firm focused on distresses ventures.Read more about Tech
Federal Government Seeks To Tax Tech Giants
The Federal Government has recently announced its intentions to tax tech giants operational in the country but not necessarily having a physical presence in Nigeria. This would seem to be Nigeria’s own reaction to the cash crunch that has gripped the world economy as a result of halting and hampering of the global supply chain as well as international trade. Under the framework of the Company Income Tax as announced by the Federal Ministry of Finance, all incomes in excess of 25 million Naira by such companies are to be taxed henceforth. Apparently, the only exceptional circumstances go thus, according to the guidelines:“Transactions exempt are amounts paid to an employee under an employment contract, receipts from and payments to an educational institution, and sums paid by a foreign-fixed base of a Nigerian company.” Federal Ministry of FinanceClearly, many of the big tech companies in the country will fall under the new tax net, however, the fact that the Federal Government has proved less than capable in tax collection has cast doubts on the scheme moving forward.
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Uber Africa To Launch Uber Cash In Partnership With Flutterwave
Uber Africa has recently rolled out plans to launch its own payment solution through Nigerian payment solutions provider, Flutterwave. According to TechCrunch.com,“The arrangement will allow riders to top up Uber wallets using the dozens of remittance partners active on Flutterwave’s Pan-African network.”Flutterwave operates a B2B payment model that allows clients to use its APIs to host their individual payment solutions. Flutterwave has been one of Africa’s leading payment solutions since its establishment in 2014 and has been one of the leaders in the African tech revolution. Uber has been in Africa since 2015 and has grown quickly in the continent’s largest markets since then. Sources: Africa.com Tech Crunch Featured Image Source: Leadership Newspapers
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