Africa: a vast continent, spanning an area of 30.2 million square km (over 20% of the world’s total land area). A direct flight from London to Cape Town puts this size in perspective: more than 80% of the flying time is spent over Africa.

Africa is home to about 18.6% of the total world population, an estimated 1.5 billion people with a multitude of ethnicities, cultures and languages. Africa has the youngest population in the world, with 70% of sub-Saharan Africa under the age of 30 years old. Such a high number of young people is an opportunity for the continent’s growth – but only if these new generations are fully empowered to realise their best potential.

Africa comprises 54 independent countries, including the Indian Ocean islands of Madagascar, Mauritius, the Comoros and Seychelles. Many regions in Africa have been devastated by war, disease, corruption and regime changes. However, after a decade of increasing political stability, improved health and education and rapidly expanding infrastructure, many African economies rank among the fastest-growing in the world. There is a growing middle class consumer market across Africa.

The majority of African countries are members of the World Trade Organisation (WTO) and cross border trade and investment in Africa is promoted via about 30 regional trade agreements.

If you are looking to expand your business into Africa please feel free to contact our offices for expert advice in this regard.

To complete the biometric authentication, users need a device with a camera, such as a desktop with a webcam, a laptop with a camera feature, or a smartphone. SARS has also made the process accessible via the SARS MobiApp, allowing users to complete the authentication using their smartphones. If a user does not have access to a device with a camera, they can book an appointment with a SARS official for assistance.

In cases where the biometric authentication is unsuccessful, users may be required to provide additional documentation or book an appointment for further verification. This ensures that only legitimate users gain access to the eFiling system, significantly reducing
the risk of fraudulent activities.

The introduction of biometric authentication is a significant advancement in SARS’s security measures. It not only enhances the protection of taxpayer information but also streamlines the registration process, making it more efficient and user-friendly. By leveraging cutting-edge technology, SARS is setting a new standard for secure and reliable electronic tax services.

This move aligns with global trends where biometric authentication is increasingly being adopted across various sectors to enhance security and user experience. As SARS continues to innovate, taxpayers can expect even more robust measures to safeguard their personal and financial information.

Should you have any queries in this regard do not hesitate to contact our offices.

The MTBPS has emphasized fiscal consolidation, prioritizing cost reductions in government spending while seeking to stimulate economic growth through infrastructure improvements. The government announced targeted cuts in baseline spending and a reduction in borrowing costs driven by falling bond yields. It also highlighted ongoing reforms to boost economic efficiency, especially in critical areas like electricity and freight logistics, which are intended to enhance growth in the medium term.

To balance these fiscal constraints, the government has deferred new tax increases, banking instead on improved tax compliance and economic reforms to increase future revenues. Projections for GDP growth have been cautiously set at 0.8% for 2024, but with hopes to reach 1.6% by 2025 if key infrastructure and economic reforms progress as planned.