v3.25.4
General and administrative expense and Termination benefits
 12 Months Ended
Dec. 31, 2025
General and administrative expenses [Abstract]  
General and administrative expense and Termination benefits
27 General and administrative expense and Termination benefits
General and administrative expense
General and administrative expense is comprised of the following:
For the year ended December 31,
In thousands of USD202320242025
Staff Costs45,147 41,107 37,144 
Occupancy Costs2,099 1,359 983 
Professional fees11,278 10,206 11,503 
Travel and entertainment2,172 2,290 1,987 
Office and related expenses6,020 4,576 4,408 
Bank fees & payment costs650 736 786 
Bad debt expense212 989 467 
Tax expense / (reversal)(8,018)(2,921)(1,355)
Provisions for liabilities and other charges1,745 300 171 
Depreciation and amortization9,806 8,160 7,954 
Other general and administrative expense3,314 3,124 2,070 
General and administrative expense74,425 69,926 66,118 
Staff costs expense includes share options and stock units granted to eligible employees of USD 4,743 thousand (2024: USD 6,541 thousand and 2023: USD 5,276 thousand).
Tax expense / (reversal), refers to tax expense / (reversal) other than income tax and is comprised of the following:
As of December 31,
In thousands of USD202320242025
Withholding taxes(6,398)(4,624)(4,059)
VAT(2,999)(1,446)(101)
Other taxes1,378 3,149 2,805 
Total(8,018)(2,921)(1,355)
General and administrative expenses for the year includes a tax expense reversal of USD 6.5 million (2024: USD 9.9 million and 2023: USD 18.6 million) primarily resulting from the reversal of tax provisions following the resolution of tax audits in certain jurisdictions where the Group operates, which provided clarity on the tax treatment of intercompany transactions, contributing to reduced tax uncertainty for the Group's operations in the relevant markets. Further details are provided in Note 21.
As of December 31, 2025 Other general and administrative expense includes USD 2,262 thousand (2024: USD 3,055 thousand and 2023: USD 3,192 thousand) for insurance premiums.