As a
result of the economic crisis caused by the COVID-19 pandemic, several African
countries have implemented supporting measures for the economic actors to
ensure the continuity of their activities and mitigate the negative effects on
the economy. In particular, Togo has suspended all ongoing tax controls on
local companies. In Mali, a guarantee fund for the private sector has been
created to cover the financial needs of businesses affected by the pandemic.
The Central Bank of Rwanda has also announced measures to ease the repayment
terms of the bank loans for businesses.
In this context, the Minister of Finance and Budget of Congo adopted Circular No. 0247/MFB-CAB on 15 April 2020
establishing measures to support companies against the economic effects of
COVID-19. The circular provides support measures in customs,
financial, and fiscal matters for businesses. Click here to read more.
[This article originally appeared in Baker McKenzie’s Francophone Africa Newsletter.]
Contacts: Richard Mugni, Fabien Hecquet, Marilyn Batonga, Celine Van Zeebroeck and Keltoum Boudribila.
