Regulatory
Manufacturers urges Nigerian government to review levies on imported electricity meters
The Electricity Meter Manufacturers Association of Nigeria (EMMAN) has appealed to the Federal Government to review its levies on imported electricity meters to promote full local content in the production of pre-paid meters. The appeal is coming on the heels of President Muhamadu Buhari’s approval of one year deferment of the 35 percent import adjustment tax (levy) imposed on fully built unit (FBU) electricity meters HS Code 9028.30.00.00 under the 2019 fiscal policy measures for the implementation of Economic Community of West African States (ECOWAS) common external tariff (CET) 2017 – 2022. EMMAN believes the approval is an incentive for mass importation of pre-paid meters as against upscaling of local production. It noted that it takes an average of three months to set up Semi Knock Do...
OECD: South Africa economy could contract 8.2% if second coronavirus wave hits
South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday. If a second wave of infections is avoided, the economy will contract 7.5% in 2020 before rebounding 2.5% next year, the OECD said in a report on Africa’s most industrialised economy. South Africa was in recession before the pandemic struck, with recurring power cuts by struggling state utility Eskom and weak business confidence dampening economic activity. President Cyril Ramaphosa’s government has promised to fast-track reforms to raise economic growth potential, but some investors are becoming restless about the pace of change. “South Africa cannot afford to delay reforms. It is essential to undertake...
Instacart’s tip-baiting system is short-changing shoppers – US senators
Instacart’s tipping system is getting some new scrutiny from Congress. In a pair of letters today, a group of senators led by Sen. Brian Schatz (D-HI) raised concerns that the service’s tipping system may be unfair or deceptive and called for a regulatory investigation of the practice. One letter sent to Instacart CEO Apoorva Mehta took the service to task for allowing buyers to promise large tips but reduce them to zero after an order is fulfilled. “People are facing unprecedented economic hardship because of the COVID-19 pandemic,” the senators wrote, “and so we hope online delivery companies like yours are taking the necessary steps to protect shoppers and prevent unfair and deceptive practices.” Reached for comment, Instacart defended the system, arguing that it typically increases the...
