Ghana's Enforcement of Taxing Foreign Income Could Affect Content Creators

What’s happened this Week:

• Vodacom acquires Smile telecoms for £22 million

• Ethiopia to launch sex register platform later this year

• and more!

In The News This Week:

Pula Raises $20 Million in Series B Round To Expand Its Business In Africa, LatAm and Asia

Pula, an insurtech based in Kenya, has raised a $20 million series B funding round from investors to establish new partnerships and expand its business in Africa, Latin America, and Asia.

Mastercard Partners with Onafriq To Offer Payment Options for Consumers and SMEs In Africa

Mastercard and Onafriq (previously MFS Africa), a pan-African payments company, have announced a new partnership to bring secure, cost-effective, and innovative payment options to consumers, as well as small and medium enterprises (SMEs) across the continent.

Vodacom Acquires Smile Communication in Tanzania For £22 Million

Vodacom Tanzania (Vodacom), Smile Telecoms Holdings Limited, and Smile Telecoms IP Limited (jointly Smile) have concluded the terms upon which Vodacom will acquire 100% of the issued share capital of Smile Communications Tanzania Limited.

In the rest of the news:

• Glovo appoints ex-Jumia Food Director as Chief Commercial Officer for Kenya

• MTN Group Opens Research Lab In Johannesburg in Partnership with Huawei

• Canal+ Acquires More MultiChoice Shares, Increases Its Stake To 40%

• New Local Airline GH-Wings Planning To Launch By End Of 2024 Pending GCAA Certification

• Ghana Government To Tax Foreign Incomes Of Ghanaian Residents To Plug GHC 1.8 Billion Revenue Gap

• Caribou Digital Launches Publication Which Explores Workplaces of the Digital Age in Africa and Indonesia

• Ethiopia Launching Sexual Violence Registration System Later This Year

• Nigeria, Ghana, and South Africa Identified As Cybercrime Hotspots According To World-First Cybercrime Index

• MAX and Kofa Announce Partnership for TailG Jidi EV Motorcycle Financing

Deep Dive

How Ghana’s Tax On Foreign Income Could Affect Ghanaian Content Creators - Ghana Revenue Authority (GRA) recently announced that it was taking steps to tax foreign income earned by Ghanaian residents.

Why This Matters: The Authority said it was trying to close a GHC 1.8 billion revenue gap and therefore was enforcing an existing tax on foreign income by Ghanaians who earn income from external parties

Digging Deeper - Most content creators currently generate income from content platforms where monetization is allowed including YouTube, Google, and the X platform.

Between the lines - This decision could also affect freelancers who earn income from remote work if they are paid in foreign currency.

Africa Ecosystem Activity

• Spark+ GP announces 2nd, 3rd closings of Spark+ Africa Fund - Disrupt Africa

• Applications open for agri-focused Mastercard Foundation fund - Disrupt Africa

• AfriLabs exchanges strategic MOU with Saudi Ministry of Investment - Disrupt Africa

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Stat of The Day

A new Cybercrime Index was recently launched. It placed Russia at the top of the list with Nigeria, Ghana, and South Africa being in the top 20.

View more data insights below: