03/04/2022
Banks, others to get regulators’ clearance for offers
SEC stated that the new requirement become necessary in a bid to further improve the Commission’s transaction turn-around period and enhance integrity of capital market instruments.
Regulation,Tax & Compliance
03/04/2022
The FSCA releases draft strategy for supporting transformation in the financial sector
The purpose of such engagement will be to assess current levels of transformation within the financial sector
03/03/2022
South Africa is heading for big interest rate changes – what you should know
“The upward trend will be slower – taking at least three years – than the large rate cuts seen in the first half of 2020."
03/02/2022
SA court rules that maintenance orders will only prescribe after 30 years
The court found that the maintenance obligations in terms of the consent paper constituted a judgment debt as contemplated in section 11(a)(ii) of the Prescription Act, as opposed to an order of court.
03/02/2022
FirstBank: Our FGT has Contributed Towards Boosting Intra African Trade
More awareness should be created amongst the populace on the existing CBN intervention measures
03/02/2022
Job cuts push 109,661 to default Helb loans
The majority of loan applicants come from poor households and require financial support from Helb to pay for their tuition and upkeep.
03/02/2022
Shaking up South Africa's anti-money laundering and counter-terrorist financing measures
The findings of the FATF’s mutual evaluation for South Africa were met with a commitment by the South African government
03/02/2022
Qatar, Nigerian Manufacturers to strengthen economic cooperation
The event would be followed by an economic forum between the stakeholders from both countries on Friday in Abuja.
03/01/2022
Stricter transformation and BEE rules planned for South Africa’s banking and finance sector
Since democracy, there has been some progress made toward both economic transformation in general and financial sector transformation specifically.
03/01/2022
SA banks accused of ‘collusion’
Whether it can be described as a trend or not is not the subject of discussion
02/28/2022
Kenya: Shift to Digital Payment Systems Takes Shape in Kenya
The NPS aims at supporting CBK's role in facilitating economic activities, livelihoods and its journey of becoming A World-Class Modern Central Bank.
02/28/2022
Lagos court freezes estate developer, others’ bank accounts
The counsel also informed the court that the notice of the sale of the property was in January 2022.
02/25/2022
South African court confirms arbitrator can rule on own jurisdiction
The SCA’s judgment provides effective and straight-forward guidance on this issue.
02/25/2022
Huge gap in black market, official exchange rate increase Forex scam as banks publish more names, Zenith leads
Breakdown On its website, Zenith Bank listed 990 foreign exchange (FX) offenders, while Polaris Bank and Sterling Bank listed 40 and 53, respectively.
02/25/2022
Suspect in Massive Kenyan Corruption Case Stashed Millions in Swiss Bank Account
The data was provided by an anonymous source to the German newspaper Süddeutsche Zeitung, which shared it with OCCRP and 46 other media partners around the world.
02/25/2022
The biggest risks to South Africa’s economy right now
Treasury said the government remains committed to stabilising the debt‐to‐GDP ratio by ensuring that spending is prudent and sustainable.
02/24/2022
Nigeria Sues JP Morgan For U.S.$1.7 Billion Over Malabu Oil Deal
It is alleged that the funds were used to pay political bribes.
02/23/2022
Commercial Bank Cameroun and European Investment Bank unveil EUR 12 million COVID resilience business financing initiative
The new private sector financing will help companies impacted by COVID-19 and is part of the EIB’s rapid response across Africa to strengthen economic resilience to the pandemic.
02/23/2022
South Africa Extends Incentives Period to Cut Carbon Emissions
That could provide some room to companies in Africa’s worst polluter and most-industrialized economy to align with environmental commitments
02/23/2022
Removal of Mauritius from European Union List of “High-Risk Third Countries”
The removal of Mauritius from the EU list follows the delisting of Mauritius from the FATF List of Jurisdictions under Increased Monitoring on 21 October 2021.