10/04/2019
Citigroup Among Banks Hit With $1.4 Billion Nigerian Penalty
The sanctions come three months after the central bank gave lenders until Sept. 30
Regulation,Tax & Compliance
10/04/2019
Kenya: African Development Bank Group approves loans of €209m for expansion of ‘Great North Road’
The five-year project will convert the 84km Kenol–Sagana–Marua Road in central and eastern Kenya from a two-way single carriageway into a dual bypass
10/04/2019
Afreximbank, UN chief task African leaders on manufacturing, trade
He also stressed the need for Africa to focus on skills development
10/03/2019
South Africa’s risk premium limits room for rate cuts, says Reserve Bank
While price growth has shifted close to the middle of the band of 3% to 6%, expectations remain above 4.5%, suggesting that the rate has not yet been anchored at the midpoint, according to the Reserve Bank.
10/03/2019
CBK declares old notes worth Ksh 7.39B valueless
Individuals are still in possession of the now obsolete 1,000 shillings notes worth over Ksh7 billion.
10/03/2019
Moyo wants R250m in damages, says Old Mutual
Moyo said his primary intention is to get his job back.
10/03/2019
Big fund manager fined R100m after one of its unit trusts lost 66% in three days
The FSCA found that METCI did not have proper risk management processes in place to manage and exercise proper control, oversight and governance over the fund.
10/02/2019
Nigerian Banks miss deadline to ramp up lending
The central bank in July gave banks until the end of September to show that they use at least 60% of their deposits for loans, or risk being punished with more onerous cash-reserve requirements.
10/02/2019
Union Bank secures $200m funding for SMEs
Under the terms of the agreement, Union Bank will receive a 10-year term loan of up to $200m from OPIC for investments in digitisation, on-lending to the Small and Medium Enterprises and funding for women-led businesses.
10/02/2019
Thinking beyond tax: a Mauritius perspective
On 26 September we were delighted to welcome members of the France-Mauritius Chamber of Commerce and Industry (CCIFM) to our Mauritius office as we hosted a panel discussion on the theme: “Finance Act 2019: impact on investors and entrepreneurs&
10/02/2019
KRA can’t trace Sh800bn wired from offshore banks
About 3,403 applicants took advantage of the three-year amnesty window to repatriate the billions tax-free in a period when they were not required to declare the source of their wealth or even account for previous years’ tax arrears.
10/02/2019
NBC Ghana Trust CEO calls for transparency in pension trustee administration
The Bank of Ghana recently completed banking reforms which led to the transition and collapse of seven commercial banks for a variety of reasons.
10/02/2019
Ex-Rössing employees press on for pension surplus
Kapembe further demanded that the payment to former employees be made known through the media in order to prevent further confusion among the beneficiaries.
10/01/2019
African Wealth Funds Primed for Deployment as Geopolitical Tensions Ease from Decades Ago
Despite being the largest fund, LIA is not without its complications.
10/01/2019
Nigeria Ups the Ante on Banks With Tougher Lending Demands
The directive comes after some lenders failed to meet an earlier deadline to ramp up lending
09/30/2019
AfDB swears in new sanctions commissioners
They will issue sanctions against individuals and entities whose liability is established following a written and adversarial process.”
09/30/2019
Everton’s sponsors SportPesa remove business from Kenya due to hostility of African nation's government
Along with several betting companies, SportPesa had its licence suspended in Kenya after the government claimed online betting outfits weren’t doing enough to curb the rise of gambling addiction among young people and also not paying enough tax.
09/30/2019
Kenya’s Big Four Agenda Gets Global Recognition
Kenya’s trade readiness score is particularly high, due to infrastructure and ease of doing business improvements that far surpass most other African nations in our index.
09/30/2019
Aggressive CBK cash mop-up drives T-bill subscriptions down
The seven-day the TAD being used by the CBK for the mop-up stood at 8.98 percent on Friday, just shy of the nine percent maximum allowed (the prevailing Central Bank Rate)
09/30/2019
New laws on the cards to regulate participation of foreigners in SA economy - report
The minister said that government cannot account for the business conducted by foreign nationals in the country, as their money is not necessarily banks in SA's banking systems.