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.
Regulation,Tax & Compliance
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
11/23/2018
Standard Bank’s Africa-China trade corridor links Africa and China in world’s next big growth partnership
To this end both the national and provincial governments of China worked to ensure that many of the 150 000 Chinese importers attending the inaugural CIIE arrived with pre-determined import orders to fill.
11/23/2018
Tanzania: New Pension Regulations Prompt Strong Reaction
We in the the opposition Chadema are against this bad practice of weakening pension funds at the expense of workers' rights.
11/22/2018
Bank of Tanzania freezes licensing of forex bureaus
The governor said a six-month investigation had revealed the mushrooming of illegal forex traders that were involved in money laundering.
11/22/2018
How 10 Nigerian banks paid over N1 billion as emoluments to top directors in 2017
The details are contained in the banks’ consolidated financial statements and annual accounts for the year ended December 2017, submitted to the Nigerian Stock Exchange (NSE) and made public earlier in the year.
11/22/2018
Mozambique banks in a crisis over debt standoff
Bizfirst manages the software for the Mozambican Interbank Society (Simo), which controls credit and debit cards and other electronic payments in the southern Africa state.
11/21/2018
‘Unclear’ expropriation laws could put South African banks at huge risk
It further urged the Constitutional Review Committee, Parliament and the relevant government departments to expedite ‘crisp, clear policy and legislative frameworks in respect of expropriation without compensation, as soon as possible’.
11/21/2018
Lender fires 34 amid rising employee-related fraud cases
“For as much as technology has simplified our world, it has also brought with it important security-related challenges,” said the lender in the report.