06/18/2020
IMA Releases New Reports on the Role of CFO in Sustainability
Reports analyze integration of finance professionals in sustainable business activities
Regulation,Tax & Compliance
06/18/2020
Land Bank hopeful to raise R3bn within the next fortnight
In a notice on the Stock Exchange News Service, issued on Wednesday, it outlined timelines for its restructuring process, as well as a second stage – "repurposing strategy".
06/17/2020
Tanzania gets $26m IMF loan for debt relief
The pandemic has weakened near-term macroeconomic prospects for Tanzania and in almost the entire sub-Saharan Africa.
06/17/2020
CBK boss spared over Imperial Bank hearing
The CBK placed the bank under receivership in October 2015 after the board of the mid-sized lender alerted it about alleged malpractices.
06/17/2020
African Development Bank joins Nasdaq Sustainable Bond Network
By joining the Nasdaq Sustainable Bond Network, socially responsible issuers are provided a unique opportunity to bring attention to their concrete actions
06/17/2020
Nigerian Government Issues Amendments To Order On Voluntary Offshore Assets Regularisation Scheme (VOARS)
The Order also allows persons to elect to access any of the offshore assets regularisation facilities in Liechtenstein, Nigeria, UAE, Switzerland, UK or elsewhere by paying a 2% facility access fee.
06/16/2020
Absa restructures 26pc of net loans
This has led to layoffs, reduced cash flow for businesses and forced unpaid leaves, which have set the stage for loan defaults.
06/16/2020
Sanlam delays paying parent group Sh2.8bn
Sanlam Life paid $7 million (Sh745 million) in the year under review while Sanlam Plc have extended repayment to end of 2020.
06/16/2020
OnlineDefunct fund managers want cash payments over bonds
It further appealed for a speedy resolution of the issue to restore calm and bring relief to the sector.
06/16/2020
Exposing The USD 58 Mn Mess Made By Rogue Employees Who Stole From SA Bank
As a local news outlet first reported, Postbank is convinced that its employee(s) is/are behind the breach, per an internal security audit that was obtained from a source in the bank.
06/16/2020
Africa at risk of slipping into a Covid banking crisis
Policy makers have to make a very important balancing role between immediate needs of the economic crisis and how to restore confidence and build a well-capitalised banking industry that is better able to support growth in the future.
06/15/2020
The Digital Imperative for Banking in the New Normal by Ciko Thomas, Group Managing Eecutive, Retail & Business Banking (RBB)
For banks, there is an opportunity to leverage their mature digital-transformation journeys to emerge stronger, despite the likely margin squeezes and higher credit impairments.
06/15/2020
South Africa is developing new rules to deal with collapsing banks – including how savings will be covered
This funding will be supplemented by funding in the form of interest-bearing deposits placed by banks with the Corporation for Deposit Insurance
06/15/2020
COVID-19: Ecobank provides GHC1.3 million support to Private Sector Fund
The PPEs and kits will complement the national stock of essential logistics required by frontline health workers for the early detection and timely reporting of COVID-19 numbers in Ghana.
06/15/2020
SEC in talks with MoF to secure comprehensive solution in paying defunct investment banks’ clients
So far, the Director-General noted, most of the claims filed have been acknowledged – but stressed that an acknowledgement is not a confirmation or validation of claim.
06/12/2020
A disciplinary hearing for Deloitte's auditors of African Bank took 2 years, and it's finally over
The IRBA argued that Jordan became too close to former Abil CEO, Leon Kirkinis, to the point that he did not address management bias.
06/12/2020
Kenya is not facing debt crisis, assures Treasury CS
The government has rolled out an aggressive fiscal consolidation exercise in the face of shrinking revenue due to the Coronavirus pandemic.
06/12/2020
Digitalisation's mixed development record
Does digitalisation drive future-proof development for the Global South? A closer look fuels doubt about too much optimism
06/12/2020
Inside the looming court case that could force insurers to pay Covid-19 claims
However, some insurers, including Santam, also promise to cover their clients for notifiable infectious diseases and the cover is largely sold to the hospitality sector.
06/11/2020
Investing in Africa: The Role of International Finance Centres
Matthew Gilbert, head of Maples and Calder's British Virgin Islands team at the Maples Group's London office was recently quoted in an African Review article where he spoke about investing in Africa and the role of international finance centres.