Insights

KEY TAX COMPLIANCE DEVELOPMENT EFFECTIVE JANUARY 2026 – KODY AFRICA LLP

On 2 December 2025, the Kenya Revenue Authority (KRA) announced enhancements to its i-Tax system, effective 1 January 2026, aimed at improving tax compliance and accuracy in return filings

Ethiopia Update. January 2026

Despite the recent conflicts in Ethiopia, a difficult debt restructuring programme, and Foreign Exchange scarcity, the country remains geopolitically indispensable to the world. A partial debt restructuring has been agreed which is a considerable relief. Ethiopia’s newly launched Securities Exchange is seeing much interest for listings and the laid down targets are likely to be met.

GOVERNANCE – CMCL

EAA Presentation on Governance by Carol Musyoka Consulting Ltd

Ethiopia Update. December 2025

For Ethiopia, 2025 closes in a more stable position, but not yet on a transformed footing. The conditions for sustained growth exist, yet their durability will hinge on political stability, the Government’s ability to keep reforms on track, and whether resources are directed toward productive sectors rather than captured by networks that have long weakened state capacity.

HARNESSING AFRICA’S TRADE POTENTIAL

Presentation to EAA By: Jessen Coolen Economic Research Lead Strategy, Research & Development & Arnaud Levasseur Executive Vice-President Global Trade Solutions from Mauritius Commercial Bank

Ethiopia Update. October 2025

Negotiations with bondholders collapsed in October 2025 meaning Ethiopia has defaulted. The alternative is to tap the Ethiopian diaspora and increase gold reserves, both of which are underway. Major infrastructure projects, including a new airport, are on the cards.

Ethiopia Update September 2025

Ethiopia is emerging from years of internal conflict, although issues remain. The country is opening up its economy to Foreign Direct Investment and while there is someway to go, Ethiopia does appear to be on the right track.

EASTERN AFRICA ASSOCIATION- A REGIONAL ROUND-UP OF THE BANKING INDUSTRY

Presentation to the The Eastern Africa Association By: Mr. Kihara Maina, Regional CEO, I&M Group Ltd July-2025

Ethiopia Update July 2025

Ethiopia is gradually working its way back into respectability with the West and the Prime Minister is fully aware of the importance of this. Relationships with Somalia are improving. The economy is recovering after years of bitter conflict and investment interest is rising.

TAX DEVELOPMENTS IN 2015- TANZANIA AND RWANDA

Rook Consulting Limited presentation at the EAA breakfast meeting By: James Kirimi

UGANDA’S PROPOSED TAX AMENDMENT 2025/26

Crystal Advocates presentation at the EAA breakfast meeting By: Denis Yekoyasi Kakembo

Ethiopia Update April 2025

While regional tensions in the country continue, the IMF has given its support to Ethiopia’s progress. There remain things to be done for the economy to open up fully but Ethiopia appears to be on the right track.

BRITISH INTERNATIONAL INVESTMENTS

Eastern Africa Association breakfast meeting presentation by British International investment

Ethiopia Update April 2025

While Ethiopia continues to face internal ethnic strife and there is a risk of this escalating, the country is opening up to foreign investment and its economy is on a growth trend.

EASTERN AFRICA ASSOCIATION- REGIONAL COMPETITION LAW

“Monopoly is a terrible thing – until you get one’’ Rupert Murdoch

Ethiopia Update March 2025

Ethiopia continues to manage the stabilisation of the conflict regions in the country although this will not be an overnight fix. The economy is performing well despite the reduction in aid by the US and the fact that Ethiopia has not be reinstated to the AGOA scheme.

DIGITAL TRANSFORMATION AND AI

EAA Breakfast meeting presentation by Dr. Dipankar Acharya CEO APA Insurance Kenya PhD; FIII; MBA .

GLOBALIZE YOUR PORTFOLIO

This presentation is private and confidential and is intended exclusively for the use of the person to whom it has been delivered by Zephyr Management, L.P. (“Zephyr” or the “manager”). By accepting this document you agree not to transmit, reproduce or make available all or any part of the document to any other person or entity without the prior written consent of Zephyr.

Ethiopia Update January 2025

Ethiopia is ramping up its plans to reform the economy and make it easier for foreign investors. The establishment of the Ethiopian Securities Exchange is a step in the right direction.

MAURITIUS IFC – BTG GROUP

Mauritius IFC – a strategic platform for global investors

UGANDA ECONOMIC LANDSCAPE REVIEW

EAA Members’ Meeting- November 2024 Economic Landscape Review – Uganda By Robin Bairstow Chief Executive Officer – I&M Bank Uganda

EAA / KODY AFRICA LLP – OVERVIEW OF TAX LAWS AMENDMENT BILL AND TAX PROCEDURES BILL 2024

Eastern Africa Association December 2024 – Overview of Tax Laws Amendment Bill and Tax Procedures Bill, 2024

Ethiopia Update December 2024

Internal and external tensions continue to plague Ethiopia. The economy is benefitting from the Foreign Exchange reforms.

BUSINESS RESILIENCE FOR SUSTAINABLE GROWTH

At stake is the opportunity to free up funds, reduce the cost of capital and make investment go further in periods of uncertainty. PwC Working Capital Study 24/25

TAX PRESENTATION AT THE EAA BY BOWMANS

Implications of the nullification of the Finance Act 2023 Eastern Africa Association (EAA)

Ethiopia Update October 2024

Ethiopia’s current political and economic landscape is fraught with challenges. However, proactive engagement with international partners and strategic domestic reforms, presents opportunities for recovery and stability. As the nation strives to stabilise its economy and manage public discontent, the collaboration with the regional and international actors such as the IMF provides an important lifeline.

EASTERN AFRICA ASSOCIATION RISHIT SHAH PRESENTATION-PwC TZ

Eastern Africa Association September 2024 – Presentation by Rishit Shah – PwC TZ

Ethiopia Update September 2024

Positive economic reforms, particularly the flotation of the Birr, continue to increase Ethiopia’s attractiveness as an investment destination, all while, concerns remain about the speed of implementation of these changes. The security situation in various parts of the country remain tense and new splits in the Tigray region threaten a return of instability there.

AN OVERVIEW OF THE NHIF / SHIF AND AHA CONUNDRUM

An overview of the NHIF / SHIF and AHA conundrum – Presentation to the Eastern Africa Association

Ethiopia Update July 2024

The conflicts in Ethiopia are continuing with no obvious end in sight. A number of economic reforms are ongoing and the economy is growing despite challenges.

EASTERN AFRICA ASSOCIATION / KODY AFRICA LLP – OVERVIEW OF FINANCE BILL 2024

Eastern Africa Business Association June 2024 – Overview of Tax – Finance Bill, 2024

Ethiopia Update June 2024

Anxieties are rising over an apparent proliferation of new inter-regional and communal conflicts across different parts of the country, as well as a deterioration of long-running ones. This is having a detrimental effect on Ethiopia’s fiscal stability, exacerbated by a growing debt problem. However, the economy is showing robust growth and a National Dialogue process aimed at achieving settlement of various conflicts is finally underway.

KAM EAA Presentation-24-04-2024

KAM IMF Presentation on 8th April 2024 by Anthony Mwangi CEO

Ethiopia Update April 2024

Concerns remain high about Ethiopia’s lingering internal conflicts, which threaten political stability and economic progress. Continued but slow progress continues on the economic front with the launch of the country’s securities exchange, and growth forecasts are down.

Rwanda at a Glance by I & M Bank, Rwanda

The government plans to introduce several tax policy measures envisioned in the Rwanda Medium Term Revenue Strategy (MTRS) aiming at improving revenue administration and cutting tax rates while broadening the tax base.

Introducing eTiMS: How to ensure successful eTIMs integration for your business by eBiashara

In 2023, KRA introduced Etims, a cloud-based software, an upgrade of TIMS that makes it easy for VAT- registered businesses to connect their accounting system to KRA without the need to use ETR TIMS devices

Ethiopia Update March 2024

Ethiopia continues to pursue its ambition to achieve access to the sea through its MoU with Somaliland, all while dialling down the rhetoric and pursuing a more diplomatic approach, which could open a path to talks with Somalia. A Cabinet reshuffle continues to consolidate Prime Minister Abiy’s hold on the administration. On international trade, the country made significant progress on economic cooperation with Kenya and compliance with a number of AfCFTA commitments.

TAX PRESENTATION

•Pursuant to the ruling of the Court of Appeal delivered on 19 January 2024, the Social Health Insurance Act, 2023 became operational effectively replacing the NHIF Act. •The draft Social Health Insurance (General) Regulations, 2023 set the monthly deductions at 2.75% of an individual’s gross salary or wage of the household. The contribution is not capped.

UGANDA SITUATION REPORT

Uganda hosted the 19th Summit of Non-Aligned Movement (NAM) Heads of State and Government, a forum of 120 member states from 15 to 20 January 2024, at the Munyonyo Commonwealth Resort. Then from 21 to 23 January, at the same venue, Uganda hosted the Third South Summit organized under the framework of Group 77 and China, a loose alliance of developing countries.

Ethiopia Update January 2024

Ethiopia’s deal with Somaliland has cast the country into yet another high stakes dispute, with potential to drag it into conflict with its neighbors and affecting stability in the wider Horn of Africa region, and potentially beyond. Currently no efforts to begin mediation have been successful, so where the dispute goes from here is highly uncertain.

TRIFIC OVERVIEW

Amplifying Africa’s talent powerhouse and growth potential and Kenya’s advancement in innovator services and role as a leading regional hub through the TRIFIC Special Economic Zone

Ethiopia Update December 2023

Ethiopia still faces difficulties bringing its Amhara and Oromia conflicts to an end, which continue to impact investor perceptions of the market, and remain a drain on Government resources. New investment is still only trickling in. An investment grade downgrade by Fitch spelt bad news for the economy but debt relief from international institutions is on the horizon.

Ethiopia Update October 2023

Nervousness remains over Ethiopia’s ability to hold the peace in Tigray and re-establish order over other restive provinces, particularly Amhara. However, Ethiopia’s international partners are eager to normalise relations, and the Government is stepping up efforts to liberalise aspects of the economy, with signs that economic growth is picking up.

Ethiopia Update September 2023

Just as Ethiopia was righting itself after the Tigray conflict, a new outbreak of violence between the Federal Government and local militias in Amhara threatens to derail the restoration of peace and prosperity in the country. While international bodies and investors are concerned, the Government seeks to restore control through a State of Emergency. The renewed conflict is a reminder of the broader constitutional complexities in Ethiopia which still need to be resolved. Nonetheless, the economy continues to grow, and IMF/WB talks with the Government are progressing well.

Overview of The Kenya Finance Act 2023

INTRODUCTION The Finance Act (“the Act”), 2023 received Presidential assent on 26th June 2023. Most of the changes will be effective from 1st July 2023, which is the Government’s fiscal year, while a few will be effective from 1st September 2023 and 1st January 2024. Most of the proposed changes in the Finance Bill, 2023

Ethiopia Update July 2023

With improving international relations, particularly with key Western partner the United States, and an economic peace dividend from the end of the Tigray conflict emerging, Ethiopia’s prospects are improving. The Government is forging ahead with economic reform programmes, and actively seeking foreign investment.

Ethiopia Update June 2023

Progress continues to be made on implementing the Tigray Peace Agreement, drawing a line under the bloody two-year-old conflict, though the lingering presence of Eritrean troops poses a potential threat to its success. The Government seems intent on reaping a peace dividend as it presses ahead with its reform programme, focusing on liberalising the banking, telecoms and logistics sectors.

East Africa Tax Developments – Deloittes Presentation to EAA Members on 26 April 2023

East Africa Tax Developments

Ethiopia Update Apr 2023

2023 is looking to be a considerably brighter year for Ethiopia as the peace in Tigray appears to be holding and both sides implement terms of the Peace Accord. While rebuilding costs are very considerable, and instability continues to plague parts of the country, the Government appears intent on restoring an attractive environment for international investors and is driving a number of initiatives to increase FDI.

Ethiopia Update Mar 2023

Ethiopia’s prospects have brightened considerably since the ceasefire in the Tigray war and the apparently successful peace accords. While there will still be obstacles to a lasting peace and constitutional settlement, most observers agree that the war is now over. Economic activity is picking up and the Government is pursuing a variety of valuable economic reform measures.

Ethiopia Update Jan 2023

The peace deal between Ethiopia’s Federal Government and the Tigray region’s rebel leadership appears to be sticking, with concrete measures taken to implement its conditions, including the disarmament of rebel forces and resumption of supplies of goods and services to Tigray. Unresolved points remain the continued presence of Eritrean troops and uncertainty about the long-term constitutional arrangements for Ethiopia. However, the improved environment means investor sentiment is lifting and conditions for a rise in FDI are emerging.

Ethiopia Update Dec 2022

The signing of a Peace Agreement between the rebel Tigrayan leadership and the Federal Government, after a two-year civil war, if upheld, will provide significant respite to a battered population, and open up investor appetite in the country again. Obstacles remain, including the status of Eritrean forces and Amharan militias, but it appears the will is there to address these.

Ethiopia Update Oct 2022

There are tentative hopes that a renewed peace push may dampen the Tigray conflict and pave the way to a peaceful resolution; however, given the volatility displayed on both sides and the yawning gap in their demands, this is still far from assured. While the conflict rages in the North, large parts of the country remain open for business and some encouraging reforms in the financial and telecoms sector begin to bear fruit.

Commentary: Developments in use of Cryptocurrencies

The use and acceptance of cryptocurrencies In Africa is becoming more and more prevalent, and there have been recent positive signs in countries such Kenya, Mauritius, Tanzania, and Uganda. Our commentary highlights developments in Kenya, Tanzania and Uganda and is reproduced courtesy of Bowmans.

Ethiopia Update. July 2022

The prospects for a negotiated settlement of the Tigrayan conflict are looking more hopeful, with the outline of a process in place. There are still mountains to climb as the differences between the two sides remain significant. Other ethnic conflicts continue to batter other parts of the country. That the Tigray war may be drawing to a close has buoyed economic sentiment, though the war and global economic pressures continue to weigh on the economy.

Commentary: Democratic Republic of Congo Jan 2022

On 23rd November 2021, the Ministers responsible for East African Community (EAC) Affairs recommended to Member State Leaders the entry of the DRC into the economic block. Our commentary sets out some background on this vast country and what opportunities lie in store for investors.

Kenya update January 2022

As the general election nears, there is concern of disruptions and the impact that this could have on the economy.

Ethiopia Update March 2022

Chances for some form of negotiated settlement in Ethiopia’s bitter Tigray conflict are better than they have been at any time since hostilities broke out.

Uganda Update Sept 2021

Covid-19 cases were declining but have risen again in August. The vaccine roll-out is progressing. There are no major changes in the political scene.

Ethiopia Update September 2021

The Tigray conflict appears to be escalating and spreading to other parts of the country, threatening a deteriorating security situation more broadly in the country.

Uganda Update October 2021

There appears to be an increasing push towards new leadership with opposition parties joining forces.

Commentary: Reflections on Tanzania November 2021

After a period in the investment outhouse, risks are definitely becoming more manageable again. The business environment may still be relatively speaking opaque, but it’s certainly worth getting in early.

Commentary: Business opportunities and risks in East Africa June 2021

EAA CEO Toby Latta talks to Tara O’Connor of Africa Risk Consulting about opportunities and risks in the region

Uganda Update June 2021

On the political front there are growing concerns that the opposition is being supressed with heavy handed tactics and the world is taking note of this. Economically, a good start to 2021 is being impeded by a surge in Covid-19 cases.

Commentary: Opportunities and Risks in the region, Members’ Survey July 2021

The EAA analyses the results of its Members survey on the opportunities and risks in the region

Tanzania Update July 2021

Politically, there is a fly in the ointment with the recent arrest of opposition leaders. The country is finally monitoring Covid-19 which is important in bringing it back into the global fold. With regard to the economy, the President is certainly looking to keep her inauguration promises.

Kenya update April 2021

Political uncertainty predicted for the next 18 months until the elections, while the economy shows signs of recovering from the pandemic decline

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KEY TAX COMPLIANCE DEVELOPMENT EFFECTIVE JANUARY 2026 – KODY AFRICA LLP

Ethiopia Update. January 2026

GOVERNANCE – CMCL

Ethiopia Update. December 2025

HARNESSING AFRICA’S TRADE POTENTIAL

Ethiopia Update. October 2025

Ethiopia Update September 2025

EASTERN AFRICA ASSOCIATION- A REGIONAL ROUND-UP OF THE BANKING INDUSTRY

Ethiopia Update July 2025

TAX DEVELOPMENTS IN 2015- TANZANIA AND RWANDA

UGANDA’S PROPOSED TAX AMENDMENT 2025/26

Ethiopia Update April 2025

BRITISH INTERNATIONAL INVESTMENTS

Ethiopia Update April 2025

EASTERN AFRICA ASSOCIATION- REGIONAL COMPETITION LAW

Ethiopia Update March 2025

DIGITAL TRANSFORMATION AND AI

GLOBALIZE YOUR PORTFOLIO

Ethiopia Update January 2025

MAURITIUS IFC – BTG GROUP

UGANDA ECONOMIC LANDSCAPE REVIEW

EAA / KODY AFRICA LLP – OVERVIEW OF TAX LAWS AMENDMENT BILL AND TAX PROCEDURES BILL 2024

Ethiopia Update December 2024

BUSINESS RESILIENCE FOR SUSTAINABLE GROWTH

TAX PRESENTATION AT THE EAA BY BOWMANS

Ethiopia Update October 2024

EASTERN AFRICA ASSOCIATION RISHIT SHAH PRESENTATION-PwC TZ

Ethiopia Update September 2024

AN OVERVIEW OF THE NHIF / SHIF AND AHA CONUNDRUM

Ethiopia Update July 2024

EASTERN AFRICA ASSOCIATION / KODY AFRICA LLP – OVERVIEW OF FINANCE BILL 2024

Ethiopia Update June 2024

KAM EAA Presentation-24-04-2024

Ethiopia Update April 2024

Rwanda at a Glance by I & M Bank, Rwanda

Introducing eTiMS: How to ensure successful eTIMs integration for your business by eBiashara

Ethiopia Update March 2024

TAX PRESENTATION

UGANDA SITUATION REPORT

Ethiopia Update January 2024

TRIFIC OVERVIEW

Ethiopia Update December 2023

Ethiopia Update October 2023

Ethiopia Update September 2023

Overview of The Kenya Finance Act 2023

Ethiopia Update July 2023

Ethiopia Update June 2023

East Africa Tax Developments – Deloittes Presentation to EAA Members on 26 April 2023

Ethiopia Update Apr 2023

Ethiopia Update Mar 2023

Ethiopia Update Jan 2023

Ethiopia Update Dec 2022

Ethiopia Update Oct 2022

Minister for Financial Services and Good Governance of Mauritius: Networking event

Commentary: Developments in use of Cryptocurrencies

Ethiopia Update. July 2022

Commentary: Democratic Republic of Congo Jan 2022

Kenya update January 2022

Ethiopia Update March 2022

Uganda Update Sept 2021

Ethiopia Update September 2021

Uganda Update October 2021

Commentary: Reflections on Tanzania November 2021

Commentary: Business opportunities and risks in East Africa June 2021

Uganda Update June 2021

Commentary: Opportunities and Risks in the region, Members’ Survey July 2021

Tanzania Update July 2021

Kenya update April 2021