Crowe Horwath
TM
African Footprint
Technical Newsletter of the Crowe Horwath International African firms
Issue 8 - July 2013
Djibouti
Inside This Issue:
The Republic of Djibouti is a country located in the Horn of Africa, It is
bordered by Eritrea in the north, Ethiopia in the west and south, and Somalia
in the southeast.
Djibouti
1
The on-going Voluntary Disclosure
Programme (VDP) in South Africa
2
The population of Djibouti 2013 is estimated at 792,198. Owing to a number
of ethnic groups in the country, the culture of Djibouti is very rich and
assorted. Arabs, French, Somalis, and other minority groups make up the
ethnicity of Djibouti. The people of Djibouti are very hospitable, kind, and
generous. The main indigenous languages are Afar and Issa-Somali, both of
which belong to the Cushitic language group. The official national languages
are French, which is used in education and administration, and Arabic, which
is spoken by Yemeni and other Arab immigrants. Islam is the national religion
and is practiced by the majority of the population.
Treatment of Withholding Tax and
Value Added Tax on Reimbursements,
Disbursements and Recharges in
Kenya
3
The Djibouti location is its main economic asset which gives the African
country a strategic advantage. Djibouti lies at the crossroads of one of the
busiest shipping routes in the world, linking Europe, the Far East, the Horn of
Africa and the Persian Gulf. The Port of Djibouti serves as a key refueling and
transhipment centre, and is the principal maritime port for imports to and
exports from neighboring Ethiopia. The location has also helped the country
to become a renowned naval port in the world. The country hosts the only US
military base in Africa and also a small French base.
The country's economy is based on its strategic geographic location at the
mouth of the Red Sea and its status as a free trade zone in the Horn of Africa.
Its main economic activities are the Port of Djibouti, the banking sector, the
airport, and the operation of the Addis Ababa-Djibouti railroad. Foreign direct
investments are welcomed by the Government of Djibouti and tax incentives
are given.
Audit Tax Advisory
Budget - East African Community
States Prioritise Growth
4
Purchase of Real Estate in
South Africa by non-residents
- a brief high level overview
5
Africa and Middle-East
meeting in Dubai
7
Upcoming Training
7
The Concepts of Thin Capitalization
and Deemed Interest: The Case
of Kenya
8
Feedback from our
Readers!
Should you wish a specific topic to
be covered in our next issue,
please let us know by emailing
your request to our editor
kent.karro@crowehorwath.co.za
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The Djiboutian Franc is the currency of Djibouti. Rather
than function as a Central Bank, the Banque Centrale
de Djibouti (BCD) has followed a Currency Board FX
regime for over 30 years. The Djibouti Franc is fully
backed by foreign exchange reserves and the country
controls inflation by pegging the currency to the US
dollar. Djibouti has no foreign exchange restrictions or
restrictions on the transfer of funds or cash.
Crowe Horwath EA Opens New Office in Djibouti
Crowe Horwath Djibouti SARL provides audit, tax,
advisory and legal services and is headed by Otolo
Coutts Akolo, the CEO of its parent company Crowe
Horwath EA in Kenya, and by Melanie Guérinot, a
French jurist residing in Djibouti. Crowe Horwath Djibouti
was founded in May 2012 to create a firm of
professionals, with a strong international brand, that
provides professional quality services.
The Djibouti office forms part of the fast developing Crowe Horwath network across Africa and will play a key role in
providing professional services to other francophone countries. This has been done to facilitate the development of
multi-disciplinary and multilingual teams that can provide professional services to any parts of the region and Africa at
large. The office offers services to investors, and can provide expert advice on local taxes, customs and systems, as well
as introductions to influential local contacts.
Mr Coutts Otolo
Crowe Horwath Djibouti Sarl
Djibouti
The on-going Voluntary Disclosure Programme (VDP) in South Africa
Section 226 of the newly introduced Tax Administration Act (TAA) in South Africa allows for the application by taxpayers
for relief under what has become known as the “on-going VDP programme”. Under the provisions of the TAA, the South
African Revenue Service (SARS) must permit a valid application and apply the provisions of Part B of the TAA –
“Voluntary Disclosure Programme” so long as the qualifying criteria for a valid application exist i.e. a person may apply,
whether in a personal, representative, withholding or other capacity, for voluntary disclosure relief, unless that person is
aware of (a) a pending audit or investigation into the affairs of the person seeking relief; or (b) an audit or investigation
that has commenced, but has not yet been concluded.
The requirements for a valid voluntary disclosure are that the disclosure must (a) be voluntary; (b) involve a 'default'
which has not previously been disclosed by the applicant or a person; (c) be full and complete in all material respects;
(d) involve the potential imposition of an understatement penalty in respect of the 'default'; (e) not result in a refund due
by SARS; and (f) be made in the prescribed form and manner.
We are finding that many taxpayers are unaware of the existence of the above provisions and hence do not afford
themselves the opportunity to minimise the penalties (note: not all penalties are covered) and/or interest which SARS
may seek to impose where they become aware that they have transgressed the law or simply wish to regularise their
incorrect application of the law.
Should you be aware of any provisions of the South Africa Tax Acts which you may not have applied correctly we would
be happy to assist you in seeking VDP relief.
Bibliography:
Section 226 and 227 of the Tax Administration Act, 2011
Mr Michael J McKinon
Horwath Tax Consulting (Gauteng) (Pty) Ltd
Gauteng, South Africa
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Treatment of Withholding Tax (WHT) and Value Added Tax (VAT) on
Reimbursements, Disbursements and Recharges in Kenya
Introduction
Withholding tax (WHT) can be defined as a tax that is deducted at source on the provision of certain services and
incomes. The recipient of the services is expected to deduct tax at the appropriate rate and remit the same to the
government on behalf of the provider of these services who in turn will claim the same at the year end when doing his/her
self-assessment.
In Kenya, the deduction of WHT is guided by the Income Tax Act Cap 470. (Laws of Kenya) and applies to contractual,
management and professional fees.
VAT on the other hand is covered by the VAT Act, Cap 476. (Laws of Kenya) and is defined as a tax charged where there
is value addition on a product or a service. Typically, it can be said to be a tax charged on the selling price.
The above terms (reimbursement, recharge and disbursement) are assumed by many to be interchangeable and to have
the same meaning and almost given the same treatment for tax purposes. This is incorrect. What then do these three
simple words mean and what is their tax treatment as far as WHT and VAT are concerned?
Reimbursement
To reimburse is to pay back or compensate (another party) for
money spent or losses incurred (Online Dictionary).The costs are
incurred and received by the customer. This therefore implies that
the person being reimbursed acted on behalf of the other person.
These costs attract neither WHT nor VAT if well supported by way of
invoices or payment receipts. It should however be noted that such
reimbursement should not be claimed by way of invoice as it will be
assumed that they incorporate a profit margin and thus attract
WHT and VAT.
Examples include:
?
Amounts paid to a supplier on a customer's behalf and who acted
as an agent of that customer
?
A customer received, used or had the benefit of the goods or
services you paid for on their behalf
?
It was a customer's responsibility to pay for the goods or services, not yours
?
A customer gave you permission to make a payment on his behalf
?
You pass on the exact amount of each cost to your customer
Note:
Reimbursements are also common in employment income computations. In this case, expenses incurred by an employee
wholly, exclusively and necessary in the provision of services to the employer shall be treated as exempt “benefits” if they
were paid back by the employer. However, private expenses incurred are treated as taxable benefits and taxed at the
relevant scale rates.
1
Recharge
Just like a reimbursement, a recharge refers to a scenario where one acts as an agent of another person but at an extra
fee. i.e. a person incurs expenditure on behalf of another person then invoices that other person for those costs and adds
a transaction fee. Such invoices will attract both VAT and WHT e.g. where an entity pays an expense on behalf of
another, say rent, and later on invoices that other company for the cost incurred on its behalf including a handling fee.
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Disbursement
This can be defined as incidental costs incurred in the course of providing a service. At this point one thing to note is that
these incidental costs are incurred by the provider of the service and not the customer.
Examples include:
?
An airline ticket that you buy to visit a client or to travel to a job. If you recharge the cost to your client you must
charge VAT because the flight was for you, not for the client.
?
Postage costs you incur when you send letters to your customers. These are normal business costs and you
must add VAT if you recharge them.
Unlike a recharge, whether a disbursement qualifies for WHT or VAT depends on the nature of the service. This implies
that if a service is exempted from tax, the disbursements are also exempted and the reverse is true.
This same concept also applies on imported services which give rise to reverse VAT which works on the principle of
subrogation, i.e. the recipient of the services is required by law to leave his position and take the position of the supplier
of the services and to do so as though the supplier was a resident tax registered supplier. The importer is expected to
declare the imported services and pay the VAT on these services using special forms called VAT 7 and VAT 28. Once
the VAT has been declared and paid, the recipient of the services is allowed to include the reverse VAT as part of his
input tax (using Form VAT 3) and deduct the amount in accordance with his VAT status.
Conclusion
For tax planning purposes in Kenya, it is better for a person to be in a reimbursement position than in a recharge or
disbursement position. However, most professionals treat disbursements as reimbursements on the face of their
invoices / fee notes to a client and omit charging VAT and WHT. Such omissions attract penalties from the revenue
authority which can be avoided altogether by proper tax planning.
Justus Masabe
Horwath Erastus & Company
Nairobi, Kenya
Budget - East African Community States Prioritise Growth
The East African Community (EAC) partner states recently presented their national Budgets with a focus on the socioeconomic transformation in the next fiscal year of 2013/2014. There was an increase by partner states in their budget
allocations compared to 2012/2013 Budgets, putting emphasis on infrastructure and agriculture, which is an indication of
fast-tracking economic growth, while promoting inclusion and sustainability.
Rwanda
The Rwanda government has increased the national budget from over
Rwf1.5 trillion in 2012/2013 fiscal year to Rwf1.6 trillion in 2013/2014.
The focus is on transforming infrastructure and agriculture sectors.
Economic transformation has been allocated Rwf459 billion which makes
it 28 percent of the total budget, rural development Rwf164 billion (10 percent)
of the total budget, productivity and youth employment Rwf163 billion (10 percent).
"The remaining Rwf41billion which adds up to two percent has been allocated to
accountable governance," according to the budget.
Presenting the budget, Amb. Claver Gatete, Rwanda's Minister of Finance and
Economic Planning, said in the last decade, Rwanda experienced an exciting
period of economic growth and socio-economic progress.
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Uganda
Tanzania
The Ugandan government has budgeted Shs12 trillion
that combines spending cuts to various sectors of the
economy with tax increments. The country is seeking
ways to close the deficit left by aid cuts resulting from
the theft of donor funds in the public administration.
Tanzania, the largest EAC country unveiled
TZSh18.2 trillion to cover several social and economic
sectors as the country puts much emphasis on
infrastructure development and upholding fiscal
measures. The budget is 18 percent higher than the
amount spent in the 2012/2013 Budget. The Tanzanian
Finance Minister, Dr William Mgimwa, said the country
has managed to contain inflation and the emphasis will
be put on anti-inflationary measures while promoting an
investment friendly environment.
The 2012/2013 national budget for Uganda was at
Shs10.25 trillion meaning that the country has increased
over the 2013/2014 financial year by more than
Shs2 trillion. "The financial year 2013/14 budget, like the
one last year, will continue to focus on translating the
Government's strategic priorities into practice over the
next year," Maria Kiwanuka, Uganda's Finance Minister
said while presenting the budget in Kampala.
Kenya
Kenya has the biggest Budget compared to other EAC
member states. The Kenya's Cabinet Secretary for the
National Treasury, Henry Rotich presented a
Sh1.6 trillion 2013/2014 budget despite the fact the
country has a total debt of Sh1.8 trillion, with
Sh800 billion borrowed in domestic debt and Sh1 trillion
as external debt.
Kenya's Budget increased from Sh1.459 trillion in
2012/2013 to Sh1.6 trillion in the next financial year. The
country's budget has been allocated to various sectors
like health (Sh34.7 billion), transport (Sh125 billion),
energy (Shs78.5 billion), ICT (Shs9.5 billion), and
education and technology (Sh130 billion) among others.
Burundi
Burundi's budget is small compared to the other member
states. The government has presented BIF1.9 trillion for
the 2013/2014 financial year that will be channelled
towards the economic recovery following the several
adverse economic shocks the country suffered last year.
At relative peace since rebels joined the government in
2009, Burundi now focuses on transforming the economy
and self-financing its national budget by 2025.
The 2013/14 budget predicts the economy, heavily
dependent on coffee exports, will grow by 6.6 percent, up
from an estimated 4.7 percent in 2012.
Nevertheless the EAC partner states have one thing in
common - achieving economic structural transformation
while lifting citizens out of poverty.
Michelè De Witt
Horwath HTL
Cape Town, South Africa
Purchase of Real Estate in South Africa by non-residents
- a brief high level overview
Many non-resident private individuals (and entities) have acquired real estate in South Africa, as holiday homes or as
investments and sometimes with both purposes in mind. There are currently no restrictions on the purchase of real
estate by non-residents but there are important income tax and exchange control considerations which should be borne
in mind.
Income Tax
A non-resident private individual or entity will need to register as
a taxpayer in South Africa to ensure that net rental income is
subjected to South African Income Tax and that a capital gain realised
on disposal will also be declared for tax purposes. A non-resident
entity may also need to register as an external company in terms
of our company law requirements.
A non-resident individual or entity will only be liable to South African
Income Tax on income and capital gains derived from a South African
source. A percentage of capital gains (33.3% in the case of a private
individual and 66.6% in the case of entities or trusts) is included as
normal taxable income and subject to our standard income tax rates.
There is no separate Capital Gains Tax.
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When a non-resident sells South African real estate,
there is a withholding tax of 5% of the gross selling price
(in the case of a private individual) which must be paid
over to the South African Revenue Service (SARS) as
payment on account of the tax as finally assessed. The
rate is 7.5% in the case of a company seller and 10% in
the case of a trust. If the tax on the computed capital
gain is likely to be less than such withholding tax, a
directive can be applied for from SARS so that a reduced
amount of tax needs to be withheld.
In all cases, the real estate owner will need to file with
SARS an annual tax return for each period of 12 months
ending on the last day of February in each year. A
company may request a different year end. Income tax
on an annual basis will be payable on the gross rental
income less the expenses incurred to produce such
income (e.g. municipal rates, repairs, maintenance,
electricity, water, rent collection commission and similar
expenses which may be borne by the owner). Income
tax would also be payable on a capital gain arising on the
actual or deemed disposal of the real estate. A deemed
disposal arises on the date of death of the non-resident
individual holding real estate in South Africa.
In certain cases there may be a double tax treaty
between South Africa and the home country and the
terms thereof may override the local tax rules.
If, subsequent to the purchase of the real estate, the nonresident owner incurred costs on capital improvements to
the property, records of such expenditure (and the source
of the funds) must be carefully retained. As such costs
may be taken into account in the computation of the
taxable capital gain, the absence of documentary
evidence and proof could result in SARS not allowing any
deduction for such costs. Similarly, records need to be
retained of all costs relating to both the acquisition of the
real estate (e.g. transfer duty, VAT, transfer costs, bond
registration costs, other lawyer fees, etc) as well as those
relating to a subsequent sale (e.g. selling commission,
electrical and other certificates, rates clearance
certificates, lawyer fees, etc).
So as to ensure that there is no obstacle to repatriating
funds, it is essential that record of the funds coming into
South Africa must be retained and the use of such funds
must be able to be tracked. Accordingly, if funds are
remitted from outside South Africa to a local lawyer to
pay for real estate, it is essential that proof of the funds
transfer is collated and retained by the owner as the
lawyer will probably destroy his records after 5 years. It
is important therefore to request from the lawyer written
confirmation that he received such funds from offshore
direct into his trust bank account and an accounting as to
how such funds were disbursed. Copies of the real
estate purchase agreement and subsequent sale
agreement and related statements from the lawyers must
also be carefully retained.
If the funds were to be used to form or acquire a local
company for it to acquire the real estate, it is also critical
to place on record with SARB, the fact that the local
company is borrowing funds from a non-resident lender
and the terms of such loan. It would be incorrect (and
cause major delays later) if it was stated that the funds
came into South Africa to purchase real estate when, in
fact, a local company purchased the real estate using
funds borrowed from the non-resident.
Conclusion
Non-residents acquiring real estate in South Africa need
to consult local professionals
to handle their tax and exchange control needs and
requirements. The lawyer handling
the transaction is normally acting for the seller and may
(or may not) be equipped to also
handle these aspects for the purchaser. We are fully
qualified to handle all these matters
and would be happy to offer advice to any potential or
existing real estate owners.
Kent Karro
Horwath Zeller Karro
Cape Town, South Africa
Exchange Control
Funds introduced by non-residents into South Africa may
be repatriated in full together with any after-tax income
and gains made during the holding or disposal thereof.
Despite this, there are administrative controls in that the
movement of funds has to be reported to the relevant
department of the South African Reserve Bank (SARB)
and this is done via the local South African commercial
banks.
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Africa and Middle-East meeting in Dubai
Following the successful Africa
meeting which took place in Arusha,
Tanzania, last year the African firms
decided to organise a second event
and invited their colleagues from the
Middle-East to join them. This event
took place in Dubai on
19 and 20 February and was
preceded by an Audit & Accounting
training presented by David Chitty.
31 participants from 15 countries
attended the meeting. The agenda
included updates by the International Accounting & Audit Director, David Chitty and the International Tax Director, John
Stewart, presentations about industries, more specifically natural resources and Islamic Banking. Discussions about the
future of each region took place; Mark Watson presented an update on the Africa strategic plan - Rabea Al Muhanna and
Saad Maniar were appointed to coordinate efforts for developing a coordinated approach for the Middle-East.
As usual the meeting was the opportunity to get to know each other better, to facilitate networking and to build new
relationships between the offices. We welcomed for the first time our new colleagues from Yemen and guests from
China, India, the United Kingdom and France.
Our thanks go to Horwath Mak for their support and more specifically to Dr Khalid Maniar and his wife who hosted a
dinner at their residence, showing as usual a wonderful sense of hospitality.
Before leaving Dubai, delegates decided that this meeting should take place again next year, this time in Africa at a
location which will be decided at a later stage.
Bernard Delomenie
Regional Director
Europe, Middle East & Africa
Crowe Horwath International
Upcoming Training
Level 2 Valuation Training Course in Prague, Czech Republic
The GCA Valuation Task Force invites you to attend our next Level 2 and Purchase Price Allocation Valuation Training
Seminar. The GCA Valuation Task Force is Crowe Horwath International’s special interest group dedicated to
providing valuation services to a range of situations but specifically to companies engaged in cross-border
transactions. Some topics that will be covered - “Developing a Valuation Practice”, “Discount and Capitalisation Rates
with stand-alone problems” and “Intangible Asset Valuation - Methodologies”. For further information, please contact
Daniela Pekarkova at daniela.pekarkova@tpa-horwath.cz
Date: 18 - 20 September 2013
Venue: TPA Horwath, Prague 2, Czech Republic
Audit & Assurance Training in Johannesburg, South Africa
The African region invites you to attend a training session to be presented by David Chitty. Some topics that will be
covered - “Service Standards”, “Quality Control”, “Update on Crowe Horwath International Audit Methodology”,
“Regulatory Reports” and “Fraud Risk”. A Caseware representative will also be present to deal with the practical
issues relating to the implementation of Caseware. For more information, please contact Cephas Osoro at
cephas.osoro@crowehorwath.co.ke
Date: 14 - 15 November 2013
Venue: Horwath Leveton Boner, Johannesburg, South Africa
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The Concepts of Thin Capitalization and Deemed Interest: The Case of Kenya
Background
The Significance of Thin Capitalization
The concept of thin capitalization takes us back to the
initial stages of company formation where a company's
assets are financed by the owners of the company
through their contributions (commonly referred to as
shares) as share capital or through borrowings (Debt).
On the face of it there seems to be no problem in taking
either of the aforesaid approaches of financing
independently or jointly but on a closer look there's
exposure to tax on Equity financing compared to Debt
financing as will be discussed later in this article.
In Kenya, as provided in the Income Tax Act Cap 470 of
the Laws of Kenya, Thin Capitalization is based on two
issues; Control and the Degree of Leverage. A company
is thinly capitalized where it is in the control of a nonresident person (alone or together with four or fewer
other persons) and the highest amount of all loans held
by the company at any time during the year of income
exceeds the greater of three times the sum of the
revenue reserves and the issued and paid up capital (of
all classes of shares of the company). This rule does
not include banks or financial institutions licensed under
the Banking Act.
When shareholders inject cash into a business in the
form of shares (equity), they expect to earn a dividend
paid out of profits whereas the lenders of cash into a
business (debt) expect to earn returns (interest /
dividends) on their investment. For taxation purposes,
dividends are not allowable deductions but an interest
expense is generally allowable as a deduction.
The Act further defines control to mean the power of a
person to secure, by means of the holding of shares or
the possession of voting power in or in relation to that or
another body corporate, or by virtue of powers conferred
by the articles of association or other document
regulating that or another body corporate, that the affairs
of the first mentioned body corporate are conducted in
accordance with the wishes of that person in relation to a
company. In the case of a body corporate, unless
otherwise expressly provided for by the articles of
association or other instruments regulating it, control
shall mean the holding of shares or voting power of
twenty-five percent or more.
It is this concept of disallowing part of interest costs
which gives rise to a concept called “deemed interest”.
Deemed interest is an amount of interest equal to the
average ninety-one day Treasury Bill rate, deemed to be
payable by a resident person in respect of any
outstanding loan provided or secured by the nonresident, where such loans have been provided free of
interest. The Kenya Income Tax Act gives the
Commissioner of Income Tax powers to determine the
rate to be used in calculating deemed interest in respect
to a particular period. Deemed interest attracts a
withholding tax of 15%.
Though interest is usually treated as an allowable
expense, the Kenyan Income Tax Act stipulates that the
interest expense shall be disallowed if a thinly capitalized
company holds loans that are greater than three times
the sum of the revenue reserves and the issued and paid
up share capital of all classes of shares of the company
i.e. exceed the debt to equity ratio of 3:1. The intent of
restricting deductible interest is to allow Companies to be
financed by their non-resident shareholders using a
reasonable level of debt while protecting the tax base
against interest deductions from excessive amounts of
foreign debt.
Deemed Interest
In relation to a partnership, the right to a share of more
than one-half of the assets or of more than one-half of
the income of the partnership.
Thin Capitalization therefore essentially refers to the
situation in which a company is financed through a
relatively high level of debt compared to equity. (A highly
geared company). A thinly capitalized entity is largely in
the hands of non-resident.
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Deemed Interest at a glance and computation example
Assuming a prescribed rate of interest of 4% for the quarter ended 31 December 2012, Company X a resident
company is thinly capitalized and has an outstanding amount of kshs. 2,000,000 as its interest free loan from its
foreign based shareholders. Deemed interest shall be:
2,000,000 x 4% x 3/12 = 20,000/=
Withholding tax at 15% =20,000 x 15% = 3,000/=
From this illustration kshs. 20,000 is treated as a disallowed expense and taxed at 30%. The gross tax revenue to the
government will be 9,000 (30% x 20,000 = 6000 and WHT = 3,000).
Approaches to Thin Capitalization
Underlying the rule of thin capitalization is the tax revenue objective of restricting (and hence reducing) the amount of
deductible interest as a result of excess debt. Countries take different approaches to determining the amount of debt
that can give rise to deductible interest payments. The following two approaches can be used:
1
The arm's length approach
This approach tends to look at a company's policy or measures put in place in determining how much to borrow at the
prevailing market rate (arms length). The amount of deductible interest will be calculated on the maximum amount of
loans that an independent person would be willing to lend to the local company at the prevailing market rates. That
amount of loan is what is used to apportion the deductible interest for tax purposes.
This approach is quite tedious more so when it comes to determining the criteria that a lender uses to determine the
credit worthiness of a company.
2
The ratio approach
This approach is what the Kenyan Government (Kenya Revenue Authority) has adopted. Unlike the arms-length
approach this approach uses the maximum amount of debt on which interest may be deducted for tax purposes and
is based on a pre-determined ratio i.e. the debt to equity ratio of 3:1 earlier mentioned in this article. This implies that
anything in excess of the maximum provisions of the ratio will be treated as disallowable for tax purposes.
The Income Tax Act looks at debt as an amount of all loans that a company has, which also means that it covers both
local and foreign debts. The Kenya Income Tax Act thus defines all loans as loans, overdrafts, ordinary trade debts,
overdrawn current accounts or any other form of indebtedness for which the company is paying a financial charge,
interest, discount or premium.
Conclusion
Interest restrictions impact on the taxable income of an entity more so if dealing with interest free loans. To avoid the
effects of thin capitalization, companies may have to revise their capital structures to address these emerging issues.
The Kenyan tax market is fast developing and undergoes some changes every year. Those involved in tax planning
and advisory work to would-be investors in Kenya need to take this into account.
Justus Masabe
Horwath Erastus & Company
Nairobi, Kenya
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Our African Network
Contact Information
Algeria
Mauritius
Hamza & Associés
Tele: +213 20 508188
Email: h.tarek@hamza-dz.com
Crowe Horwath (Mur) Co
Tele: +230 208 8684
Email: contactus@crowehorwath.mu
Angola
Morocco
Horwath Angola - Auditores e Consultores, Lda
Tele: +244 925 289207
Email: carlos.florencio@crowehorwath.ao
Horwath Maroc Audit
Tele: +212 537 77 46 70
Email: benbrahim@horwath.ma
Cote d’Ivoire
Nigeria
Uniconseil
Tele: +225 08212520
Email: soraya_toure@yahoo.fr
Horwath Dafinone
Tele: +234 1 545 1863
Email: duvie@dafinone.com
Djibouti
Reunion
Crowe Horwath Djibouti Sarl
Tele: +253 2135 7517
Email: coutts.otolo@crowehorwathea.co.ke
Fiduciaire des Mascareignes
Tele: +262 2 6290 8900
Email: a.lala@fdm.re
Egypt
South Africa
- Cape Town
Crowe Dr A M Hegazy & Co
Tele: +202 376 00516
Email: mahegaz@link.net
Ghana
SCG Audit
Tele: +233 21 251497
Email: george.katako@scg.com.gh
Kenya
Crowe Horwath EA
Tele: +254 20 2329542
Email: coutts.otolo@crowehorwathea.co.ke
Kenya
Horwath Zeller Karro
Tele: +27 21 481 7000
Email: contactus@crowehorwath.co.za
Horwath HTL (South Africa)
Tele: +27 21 527 2100
Email: capetown@horwathhtl.co.za
- Johannesburg
Horwath Leveton Boner
Tele: +27 11 217 8000
Email: info@crowehorwath.co.za
Tanzania
Erastus & Co
Tele: +254 20 3860513
Email: erastuscpa@kenyaweb.com
Horwath Tanzania
Tele: +255 22 2115251
Email: chris.msuya@crowehorwath.co.tz
Madagascar
Tunisia
Cabinet Genevieve Rabenjamina
Tele: +261 202 221121
Email: cce@moov.mg
Horwath ACF
Tele: +216 71 236000
Email: noureddine.benarbia@crowehorwath.com.tn
Mali
Zimbabwe
Inter Africaine d’Audit et d’Expertise (IAE-SARL)
Tele: +223 20 286675
Email: iaecpt@orangemali.net
One & One Chartered Accountants
Tele: +263 4 304 576
Email: onemusi@yahoo.com
Crowe Horwath EA, Crowe Horwath (Mur) Co, Crowe Dr A M Hegazy & Co, Crowe Horwath Djibouti, Horwath Zeller Karro, SCG Audit, Horwath Leveton Boner, Horwath Maroc Audit, Horwath Dafinone, Hamza & Associés, Horwath
Angola, Uniconseil, Cabinet Genevieve Rabenjamina, Inter Africaine d’Audit et d’Expertise (IAE-SARL), Horwath ACF, Fiduciaire des Mascareignes, Erastus & Co, Horwath Tanzania and One & One Chartered Accountants are separate
and independent members or business associates of Crowe Horwath International, a Swiss verein (Crowe Horwath). Each member or business associate firm of Crowe Horwath is a separate and independent legal entity and is not
responsible or liable for any acts or omissions of Crowe Horwath or any other member or business associate of Crowe Horwath and specifically disclaims any and all responsibility or liability for acts or omissions of Crowe Horwath or any
other Crowe Horwath member or business associate.
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