09/03/2019
Court adjourns uniCredit’s case against BoG
The shareholders of uniCredit want the court to quash the Bank of Ghana’s revocation of their license which declared uniCredit as insolvent, thus compelling the company to cease operations.
Regulation,Tax & Compliance
09/02/2019
TICAD7 sees signing of 110 MoUs with 26 African countries
The government of Japan has been leading this conference since 1993, co-hosted by United Nations, United Nations Development Programme (UNDP), World Bank and African Union Commission (AUC).
09/02/2019
Nigeria: Afreximbank, Mufg Bank Sign MOU for Broad Collaboration FacebookTwitterWhatsApp
The MOU sets a solid foundation for reinforcing the economic bond between Africa and Japan at a time of increasing global trade tensions.
09/02/2019
Stanbic lays off 88 staff in voluntary retirement plan
The laid off staff will also get a 25 percent rebate or discount on the balance of any outstanding staff loans settled immediately upon exit.
08/30/2019
Moroccan, Japanese Banks sign partnership agreement on sideline of TICAD summit
Through this strategic partnership, concluded on the sidelines of the ongoing 7th Tokyo International Conference on African Development (TICAD-VII), BCP and its subsidiaries position themselves as the ideal banking partners for Sumitomo Mitsui Banking Cor
08/30/2019
Tanzania's National Bank of Commerce hit with fine over data rules breach
The country’s financial services sector has been hit by a spike in bad loans, which have stifled the growth of credit to the private sector.
08/29/2019
Regulating fintechs in Kenya
Many banking firms also have their own fintech products, but these are governed under the Central Bank of Kenya.
08/29/2019
Women heavily targeted in bank card fraud: report
As with any fraudrelated crime, this is an issue that needs urgent attention.
08/29/2019
South Africa regulator warns against unregulated wealth firm
It promised 50% or more returns within 30 days
08/29/2019
Eskom will go bust by March unless funding model is executed – Treasury
One of the main conditions for the bail-out would be for Eskom to service debt and interest and not to pay bonuses.
08/27/2019
KRA targets doctors' payments from 12 foreign insurance firms
The insurance firms include UK-headquartered Bupa International Limited, American-managed health care company Aetna, Allianz Worldwide Care which is headquartered in Ireland, William Russell headquartered in the UK, IHI Danmark a Danish firm and British f
08/27/2019
Beware of the pitfalls when investing offshore
Some offshore jurisdictions - such as Malta, Gibraltar, Guernsey and Mauritius - allow clients to hold assets anywhere in the world in foreign currency, m
08/27/2019
Zimbabwe proposes amendments to thin capitalization rules
In general, Zimbabwe’s thin capitalization rules disallow for corporate tax excess interest where the debt to equity ratio exceeds 3:1.
08/27/2019
South Africa’s R5 circulation coin gets a new face
The SARB issued five new R2 coins over the past three months to mark South Africa’s 25 years of constitutional democracy
08/27/2019
Regulators to set up a pension solutions sandbox
Over 10 million Kenyans do not have any arrangements to save a portion of their income
08/25/2019
Tanzania central bank threatens hefty fines for lenders over data compliance
A Bank of Tanzania spokesperson confirmed to Reuters on Sunday the regulator issued a circular on Friday that imposes a fine of 5 billion Tanzanian shillings ($2.18 million) for lenders that have not set up an in-country data centre.
08/23/2019
Ghana’s Central Bank Pulls Licenses Of 23 Financial Institutions
Capping off the effort last week, Ghana’s central bank announced it had revoked the licenses of 23 savings and loans companies as well as finance houses and appointed a receiver to manage their affairs.
08/23/2019
President must do more than talk – HRM Oscar Yao Doe
The president expressed these frustrations in a meeting with Members of the Council of State on Tuesday.
08/22/2019
Former UN Economist Becomes Prime Minister in Crisis-Hit Sudan
Abdalla Hamdok set to head promised cabinet of technocrats
08/22/2019
Nigeria’s forex reserves might face $9 bln fine
The Nigerian currency is facing pressure on the international foreign exchange market with a further decline against the US dollar.