Money News - In Brief

Mergers, Acquisitions and Financial Results

- The Rwanda Revenue Authority will launch an Electronic Sales Device (ESD) to counter fraudulent transactions and tax evasion by individuals. The device is set to be launched in June and it will cost $300 and $600. “With this devise, the figures you enter in your books of accounts are automatically transferred to our own database and any attempts to change the data afterwards will be noted and blocked.” Said Commissioner General, Ben Kagarama.

- Sage Pastel has announced that it will launch its pioneer mobile-based human resource application in the Kenyan market beginning July this year. The firm said it is currently developing an SMS-based app as well as solutions compatible with operating systems for mobile devices such as Android and Windows for its payslip solutions that will see employees access their pay statements via mobile phones.