11/03/2023
Ramaphosa: Hands off the Reserve Bank – for now
Responding to questions in Parliament this week, the president said that the Reserve Bank’s mandate is set out in section 224 of the Constitution, and it is successfully pursuing it.
Regulation,Tax & Compliance
11/02/2023
South Africa is at huge risk
Revenue collections have also underperformed significantly, with tax coming in close to R57 billion lower than anticipated.
11/02/2023
Tinubu seeks Senate’s approval for fresh $7.8bn, €100m loans
“The total facility of the projects and programmes under the borrowing plan is 7,864,508,559 dollars and then in Euro, 100 million euros respectively.”
11/02/2023
South Africa to stay greylisted until 2025
Other reforms included in Godongwana’s address are improving the legislative environment in areas such as financial management and financial governance.
11/01/2023
EU and Ghana sign €42m financing agreements to strengthen key sectors of economy
The other component recognizes the paramount importance of the private sector in the green and digital transition.
10/31/2023
Nigeria's cabinet approves $2.7bln supplementary budget
Nigeria's cabinet has approved the sum of $2.77 billion
10/26/2023
AfDB supports Tanzania's horticultural sector with $2.5mln grant
The grant will be implemented in four regions
10/26/2023
Treasury wants 'two-pot' retirement system delayed until 2025
Due to the magnitude of the reform and the desire to ensure that when implemented, the system operates as seamlessly as possible
10/26/2023
Absa CEO shakes up top brass six months into appointment
Chief finance officer Yusuf Omari has been added responsibility to provide oversight of the bank’s treasury, strategy, transformation and sustainability functions.
10/25/2023
Lifestyle audits for South Africa’s millionaire ministers – Ramaphosa has nothing to say
Although Ramaphosa previously said that lifestyle audits could be a key tool in tackling corruption, the process is yet to find anything of note.
10/25/2023
Multiple taxation: Tinubu panel asks govt to drop 190 taxes, OPS blames states
Specifically, the telecommunication operators complained that the sector was one of the most taxed in the country with over 40 taxes directed at telecom firms.
10/25/2023
Tribunal orders MTN to pay $72.5m fine to FIRS
Other members of the panel were P. A. Olayemi, Babatunde Sobamowo, Samuel N. Ohwerhoye and Terzungwe Gbakighir.
10/24/2023
Struggling microfinance banks in Kenya raises some economic concerns
Microfinance banks have been drifting into the loss-making territory between 2016 and 2022
10/24/2023
MPs plan new entity to regulate bank loans
Others are the Financial Sector Ombudsman and the Financial Sector Tribunal.
10/24/2023
UBA joins PCAF to boost carbon accounting
He pointed out that UBA is the only bank from West Africa on the global core team, emphasising the bank’s alignment with PCAF standards.
10/23/2023
Hidden Debts: Mozambican Government Paid Out $130M Total in Out-of-Court Settlement
The payments envisaged by the out-of-court settlement to the other financial institutions that entered into the Prodindicus syndicated loan
10/23/2023
South Africa’s new pension system – ‘the lesser of two evils’
“South Africans are expected to dip into those accessible pots in significant numbers, accessing up to one-third of their available future retirement savings post the 1 March effective date.”
10/23/2023
Africa Can Figure Out Their Climate Policy, Tshabalala Says
The comments from Africa’s biggest bank come amid protests by climate activists over the environmental damage that could be caused by the construction of the $4 billion East African Crude Oil Pipeline
10/20/2023
Nigeria, EU sign over €900m agreements for developmental projects
The agreements were signed at the EU-Nigeria Strategic Dialogue in Abuja.
10/18/2023
KRA nets Sh3.4bn revenue from tax amnesty scheme
The Finance Act 2023 introduced a tax amnesty for interest and penalties on tax debt by inserting Section 37E into the Tax Procedures Act 2015. The amnesty took effect on September 1.