12 Results

New Income Tax in Rwanda Causing Major Financial Strain for Many Mobile Money Agents

Region: Rwanda

Topics: BusinessMoneyPolitics

More than 7 million Rwandans do their banking through their cellphones, but many of the agents who facilitate the banking transactions never declared their income to the country’s tax authority. Now the tax authority has started taking a 15-percent withholding tax from these agents’ incomes with the cellphone provider, plunging some of these agents into financial turmoil.

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Argentina’s Peso Falls – and so Do Migrant Workers’ Remittances

Region: Argentina

Topics: EconomyHuman MigrationMoney

Workers from around the world came to Argentina for jobs that would let them send meaningful remittances to family members in their home countries. But Argentina’s peso is rapidly depreciating, and inflation is rising, and now many of these migrant workers are wondering what to do about the plunging values of their remittances and their bank accounts.

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Zambians, Wary of Taxpayer ID Rule, Opt for Mobile Money Rather Than Banks

Region: Zambia

Topics: EconomyMoney

Zambia’s government and its banks insist the country’s new taxpayer identification numbers aren’t used to collect additional taxes. But the public’s suspicions about this ID requirement have driven many locals to favor digital transactions, now a booming business.

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Soaring Rents, High Demand Pushing out Many Buenos Aires Tenants

Region: Argentina

Topics: Human MigrationHuman RightsMoney

Affordable housing is out of reach for many Buenos Aires renters, and experts and tenants’ groups are looking at ways to rectify the situation.

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Women in Zambia Avoid Banks’ High Interest Rates Through Informal Lending Groups

Region: Zambia

Topics: BusinessEconomyMoney

Zambian banks demand substantial collateral and charge high interest rates for loans, so local women are increasingly turning to informal lending cooperatives, called village banking, for loans large and small. The groups operate on trust, but the high volume of money outside the formal banking sector comes with risks.

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Is there a ‘Local’ Dollar in Zimbabwe? Banks Say Yes

Region: Zimbabwe

Topics: EconomyMoney

A government policy enacted without notice on Oct. 1 eliminated U.S. dollars from bank accounts throughout the country and replaced that money with a new monetary unit that some central bank officials say should be called a “local dollar.” Accessing those dollars had grown increasingly difficult, but seeing them disappear was a crushing blow for people who had saved them.

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Insulin Prices Spike in Zimbabwe, as Cash Shortage Continues

Region: Zimbabwe

Topics: AccessEconomyHealthMoney

In Zimbabwe, people with diabetes are cutting their dosages of vital insulin and feeling the adverse health consequences. Unable to get credit, the country’s pharmaceutical companies are increasing drug prices and can’t keep up with demand.

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Plummeting Peso Sinks Hopes of First-Time Home Buyers in Argentina

Region: Argentina

Topics: Money

The Argentine government created a program that was supposed to make it easier for first-time home buyers to get a mortgage. But the slumping Argentine peso has put the plans of many would-be buyers in jeopardy, because most homes are priced in dollars.

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In Foreign-Exchange Trading, Young Zimbabweans View Rewards as Outweighing Risks

Region: Zimbabwe

Topics: BusinessMoney

Currency trading pays for some, while others gain nothing. With cash and jobs difficult to obtain, this market is becoming increasingly popular, and young people are taking courses to help them master the strategies to trade.

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DRC’s Unemployed Football Fans Hope to Monetize Their Passion – in Betting Shops

Region: Democratic Republic of Congo

Topics: Money

DRC has never been one of Africa’s gambling hot spots, but high unemployment has made gambling a popular way to make quick money. Now, football fans with few employment opportunities are spending hours playing the odds – at any cost.

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