04/15/2018
Eyes shift to CBK decision on National Bank directors
We get a further glimpse from a Central Bank of Kenya statement that sheds light on the inefficacious NBK Board.
Regulation,Tax & Compliance
04/12/2018
Mauritius freezes 58 bank accounts linked to Angola's sovereign wealth fund
The son of José Eduardo dos Santos, Angola’s former president, Jose Filomeno dos Santos was until recently the head of the national sovereign wealth fund.
04/10/2018
Mauritius Suspends Quantum Funds After Angola Official Visit
Seven funds invested cash from Angola’s sovereign-wealth fund
04/10/2018
Access Bank, GTB fined for illegal charges, other CBN violations
A breakdown shows that during the year, while GTB paid about N18 million as fines, Access Bank paid over N78 million to the regulatory agencies.
04/09/2018
SARS warns on cryptocurrencies
The onus was on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued, SARS said in a statement.
04/06/2018
Over 250 land titles, bank accounts seized as prosecutors go after corrupt officials
At the international level, he said, assets acquired fraudulently are traced through mutual legal assistance requests, and joint investigations.
04/05/2018
Canada and South Africa Continue to Meet Requirements for Endoresement
As a result, there will be no disruption to EU registered credit rating agencies’ ability to endorse credit ratings from these jurisdictions following the entry into force of the new requirements.
04/05/2018
South Africa's central bank mulls cryptocurrency regulations
The self-regulatory organisation (SRO) would be a non-governmental body with the power to publish its own rules, directives and industry standards
03/28/2018
A brief history of business laws in Mauritius since 1968
The Constitution therefore provided the framework for Parliament to enact laws to promote and protect business and the fruits of business.
03/28/2018
UBA expands presence in London, gets licence for banking activities in UK
Following this authorization, UBA is now the only Sub-Saharan African bank to conduct banking activities in New York and London
03/27/2018
The Central Bank of Uganda Comes Clean About Looming Debt Distress
The IMF relied on three key arguments to explain why Uganda’s steeply rising indebtedness was not a cause for concern to them. They then summarised the situation as follows:
03/27/2018
Trustfund cautions employers against non-remittance of pension funds
We appeal to employers to comply with the law lest they face the wrath of the law. It is not in anybody interest that employers are sanctioned.
03/23/2018
Ballooning Uganda debt poses default risk, central bank says
Over the last decade the government of long-ruling President Yoweri Museveni has ramped up borrowing, mostly from China, to fund infrastructure projects including roads, power plants, fibre cable networks and an airport expansion.
03/23/2018
Recent Updates in Mauritius
The MRA has introduced the Tax Arrears Settlement Scheme.
03/21/2018
Commercial Bank of Africa starts operation in Rwanda
“Rwanda stands out amongst its peers in East Africa because the economy has grown impressively and sustainably from 2000 to 2017, with a GDP growth rate averaging 7.2% annually,” said CBA Group Chairman, Desterio Oyatsi.
03/21/2018
Mauritius: Promoting Mauritius International Financial Centre in the Gulf
The mission, from 18 to 23 March, is organised at the initiative of the Ministry of Financial Services and Good Governance in collaboration with the Economic Development Board.
03/21/2018
Mozambique Proposes Haircuts That Bondholders Swiftly Reject
The government, represented by Finance Minister Adriano Maleiane, also wants to write off half its past-due interest payments
03/21/2018
ECB and the South African Reserve Bank sign a Memorandum of Understanding on cooperation
The Memorandum of Understanding provides a framework for a regular exchange of information, policy dialogue and technical cooperation between the two institutions.
03/21/2018
Capitec CEO Slams Short Seller Viceroy At Parly Hearing
Fourie told the committee that it only granted credit through a model based on client behaviour, affordability and revenue source.
03/21/2018
Ghana Is Said to Name Citi, Three Others to Market Eurobond
Ghana will follow other sub-Saharan African issuers such as Ivory Coast and Kenya