12/05/2018
Mauritius tax authority issues guidance on place of effective management
The majority of the Board of Directors’ meetings must be held in Mauritius, or the executive management of the company must be regularly exercised in Mauritius.
Regulation,Tax & Compliance
12/04/2018
SBTC: Bank of Ghana to make provisions to regulate the financial system
The Blockchain Conference was aimed at creating awareness and network with peers, create a good policy environment for Blockchain technology to flourish, knowing the policy issues, meeting stakeholders and share best practices, having first-hand demos on
12/04/2018
Deloitte should not have missed African Bank red flags, says auditing board
The Independent Regulatory Board for Auditors says the firm ignored warnings on an overestimation of cash flows
12/03/2018
Mauritius’ SBM gets RBI approval to merge operations with its Indian subsidiary
The Reserve Bank of India Saturday said it has approved merger of SBM (Mauritius), India with SBM Bank (India).
12/03/2018
How VBS scheme broke Namibian bank
These cases are being heard while a commission of inquiry sits in Sandton, as the ruined bank’s liquidators try to track down as much as R380 million of its money that went missing in South Africa.
12/03/2018
CBN grants Diamond Bank national licence
With this approval, the bank will cease to operate as an international bank.
12/03/2018
KPMG gives away R47 million Gupta money
KPMG executive chairperson Professor Wiseman Nkuhlu said the funding was an important step in ensuring redress for the actions of the past.
11/29/2018
Tanzania central bank suspends five banks from interbank FX market
The lender was still continuing to serve its FX clients but it had lost its access to the liquidity offered by the interbank market, it added.
11/29/2018
Eskom, AfDB ink deal to expand Southern Africa power pool
The financing of the Eskom Transmission Project will result in a significant strengthening of South Africa’s transmission infrastructure.
11/29/2018
Nigeria’s Access Bank to Repay $400 Million Bond Two Years Early
Nigeria’s banking regulator allows lenders to count certain classes of debt and equity among the buffers they need to set aside to survive market turmoil.
11/29/2018
The big “money mule” problem in South Africa
This problem has become so prevalent in South Africa that the SAFPS has opened a new category of fraud specifically to deal with the issue.
11/28/2018
Ecobank reopens in Omu-Aran, 5 years after closure
Scores of customers were seen queuing up to make transactions on the ATM’s when NAN visited the bank’s premises along Aperan Way in the metropolis on Tuesday morning.
11/28/2018
SQM Frontier Management Selects BNY Mellon to Provide Custody Services
SQM, an SEC registered investment adviser focused on emerging markets, specifically frontier Africa and the Middle East, selected BNY Mellon following a competitive tendering process.
11/28/2018
Nigerian govt vows to recover $7bn cash bailout to banks
Obono-Obla stated this at a public event organized by some civil society groups on the controversial Oil Prospecting Lease 245 in Abuja.
11/27/2018
Ghana’s central bank keeps interest rate unchanged at 17 percent
The decision will help to stabilise the local currency which has come under marginal pressure in recent weeks.
11/27/2018
South African Bourse Fines Pepkor for Breaching Listing Requirements
The JSE said Pepkor had cooperated with the bourse during its investigation and promised to address the breaches.
11/27/2018
KCB joins global banks in responsible banking initiative
The Principles will define the banking industry’s role and responsibilities in shaping a sustainable future.
11/27/2018
Zuma Required To Pay Monthly Installments For Bond At VBS
The loan agreement for Zuma’s bond is reportedly still valid and enforceable.
11/26/2018
Immigration minister under pressure as lawyers fight to bring ex-UBS trader and convicted fraudster back to Britain
Mr Adoboli, who was born in Ghana but has not lived there since the age of four, was sentenced to seven years in jail in 2012 after being convicted of Britain’s biggest fraud which saw him lose UBS $2.3bn (£1.8bn).
11/26/2018
South African Reserve Bank Increase Rate for the First Time Since 2016
The committee was initially split on the decision