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Regulation,Tax & Compliance

03/19/2021

Uganda: African Development Bank signs $229.5 million financing agreement for the Kampala-Jinja Expressway Project

The Kampala-Jinja Expressway Project will cut travel time and boost trade along an important artery linking Uganda with its neighbors

03/18/2021

Ministries to meet over NCPB’s rising Sh7bn bank debt

“The CS Agriculture is organising for a meeting between the ministry, Treasury, NCPB and KCB to resolve the Sh7billion loan,” said Mr Iringo.

03/18/2021

Herbert Smith Freehills Advises Korea’s POSCO Group on Stake in Tanzanian Graphite Miner

The firm is also advising POSCO on offtake and prepayment arrangements for the project.

03/17/2021

Government wants to enforce new BEE rules at banks, insurers and funds

Masondo said it will also be a requirement for financial institutions, such as banks, to have transformation plans that demonstrate their compliance with existing Black Economic Empowerment legislation.

03/16/2021

Kenya goes for costly Eurobond to pay off maturing $8.5b debts

This will mean investors willing to buy the Kenyan bond in the international will demand risk premium to cushion against country’s risk of default.

03/15/2021

Dentons launches combination with East African Law Chambers in Tanzania

In 2020, Dentons accounted for 85% of all cross-border law firm combinations and is now the second best-known law firm in the world according to Acritas

03/12/2021

NBK gets nod to auction TSS land over Sh3.7bn loan

High Court put a freeze to the sale in April 2017 following a petition from the late Mombasa tycoon’s so.

03/12/2021

Treasury raises Sh48bn from bond sale in borrowing target race

The bulk of the funds raised in the bond will be going towards the new borrowing column at the exchequer, with no maturities on the bonds register this month.

03/12/2021

Nigeria’s rising debt servicing, an economic threat – SEC

Moving towards improved sustainability may require future debt tied to revenue-generating projects.

03/11/2021

Kenya ranked among major money laundering hotbeds across the world

Kenya ranked among major money laundering jurisdictions across the globe

03/11/2021

SA regulator, big banks experiment with blockchain securities

BMA’s experience in the local banking technology sector through previous blockchain-based projects with Rand Merchant Bank

03/10/2021

Nedbank to pay out VBS bank victims up to R100 000 per depositor

The money included investments from municipalities, government departments, stokvels and ordinary South African depositors.

03/09/2021

SEC tasks quoted companies on regulatory compliance, lists benefits

While these regulatory requirements may appear burdensome to companies, they exist for the protection of investors who rely on accurate and timely information to make an informed judgment and for the proper governance of the companies.

03/09/2021

The Africa Digital Inclusion Facility approves grants worth $1.3 million for two research efforts to enhance women’s digital access to loans and micro-insurance

The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility

03/09/2021

Crypto havens lure firms fleeing regulator angst in SA

SA authorities “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally,” Revix CEO Sean Sanders said.

03/08/2021

Warning lights flickering for South Africa’s wealthy taxpayer

Tax compliance, proper professional planning and the appropriate use of annual allowances are key to navigate any aggressive changes in tax legislation that may be necessary sooner rather than later,

03/08/2021

Treasury set to float Sh75bn roads bond

The committee said the State Department for Infrastructure ha Sh75 billion in accumulated pending bills as at December 2020.

03/05/2021

Trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

An investment scheme involving tycoon Jean-Claude Bastos de Morais exposed in ICIJ’s Paradise Papers investigation bore “obvious” risks of possible corruption, a Jersey court finds.

03/05/2021

Equity extends pay back period for third of loans

Only 35 per cent of our customers have exercised that option,” Dr Mwangi said on Wednesday.

03/05/2021

Treasury sets guarantee terms for county external loans

The Constitution allows counties to borrow from the capital markets and foreign sources once cleared by the National Treasury.

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