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Regulation,Tax & Compliance

08/28/2020

Ghana: Revocation of Licences of 9 Banks - Govt Pays All Depositors 95 Percent Depositors of Collapsed Micro Finance Companies Also Paid

Justifying the need for the banking sector clean-up, he said the country's financial sector was very fragile and, therefore, needed such a drastic measure to save it from collapse.

08/28/2020

Ghana: BoG Deserves Commendation for Paying Depositors of Collapsed Banks

Governor of the BoG, Dr Ernest Addison, explained at the time that the central bank had "to take tough but necessary steps to clean up the banking sector and reposition it to support the economic growth and transformation agenda of Ghana".

08/27/2020

2020 Annual Meetings: African Development Bank President Akinwumi Adesina seeks a second term “to serve Africa”

President Adesina asked the Board of Governors to renew their trust in him for the next five years

08/27/2020

Governor Caroline Abel wins Central Bank Governor of the Year Award

resident Danny Faure expressed his heartfelt congratulations to Miss Abel on winning this Award.

08/27/2020

Central Bank of Kenya vindicates Bawumia on mobile money interoperability

The second phase has also allowed the movement of monies between and among telecommunication operators, banks, and e-zwitch accounts in a seamless manner –and the flow is vice versa, to complete the Financial Inclusion Triangle.

08/27/2020

Wealthy Nigerians are buying up passports for cash from Caribbean nations to beat visa rules

With around 40,000 passports believed to have been issued through investment migration programs globally, citizenship by investment is now estimated to be a $3 billion industry.

08/27/2020

Nedbank CEO calls on govt to push structural reforms as banks suffer

All banks that have published financial results for the first six months of 2020 so far have recorded increases in credit impairments.

08/27/2020

Absa’s mystery sale of SA’s largest house

Absa has obtained power of attorney to sell the luxury riverfront home of one of its former executives

08/26/2020

Data breach management 101: why prioritising your incident response plan matters

The Bill imposes a further mandatory obligation to notify the South African Police Service within 72 hours after becoming aware of a cybercrime

08/26/2020

Kenyan Banks Remain Stable Despite Pandemic-Led Growth Slowdown -KBA

The banking industry has walked step by step with clients, restructuring in excess of Sh840 billion (up from Sh360 billion in June), which is a remarkable demonstration of the industry’s ability to anchor the economy over the short to medium term.

08/26/2020

Data protection and the direct marketing dilemma: complying with POPIA and mitigating liability

The most fundamental implication for direct marketing, broadly speaking, is that while the CPA provides rights and remedies for consumers which allows them to “opt-out” of direct marketing

08/26/2020

First National Bank Ghana has added five new contact offices to agency banking.

The additions extend the bank's agency plus partners in Accra, making it possible for more people to access its products and services.

08/26/2020

Jamii Bora renamed, gets new CEO after acquisition by Co-operative Bank

The changes come after Co-op Bank acquired a 90 percent stake in the small lender by injecting in Sh1 billion.

08/26/2020

Emigration to be based on tax residency test from next year

But draft legislation needs more clarification.

08/26/2020

South Sudan seeks $250 million loan from African Exim Bank

It has also approached the International Monetary Fund (IMF) for help, but it’s unclear if that will be successful.

08/26/2020

SA Reserve Bank must be nationalised without compensation to end white capital domination, argues Floyd Shivambu

The radical economic transformation (RET) grouping, and others supporting central bank nationalisation, clinched a last-minute Nasrec win with the resolution on land expropriation without compensation.

08/25/2020

How to avoid the fraudster's snares in property deals

A mistake we commonly make is bypassing expert advice because we do not want to pay consultation fees.

08/25/2020

Hamis Kiggundu's responds to Uganda Bankers Association on reforms

My arguments on the call for banking reforms in Sunday Vision of August 16, 2020 were specifically based on facts

08/24/2020

AfCFTA: Zenith Bank CEO Seeks Funding for SMEs, Infrastructure

Onyeagwu warned that the expected benefits of AfCFTA could elude the continent if SMEs are not adequately funded and encouraged to grow through the provision of concessionary long-term funds to build capacity.

08/24/2020

Local consumers warned of rising financial fraud

Dev notes that while these crimes are becoming increasingly sophisticated, some very simple precautions go a long way to protect consumers from fraudsters.

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