08/09/2023
Billionaire Narendra Raval joins case to root for Finance Act
Mr Raval’s group of companies is involved in the manufacture of various goods, specialising largely in the steel and cement industry.
Regulation,Tax & Compliance
08/09/2023
Trouble ahead for remote workers earning dollars and pounds in South Africa
South Africa has become something of a hot spot for remote work.
08/08/2023
‘Standard Bank’s closure of Independent Media’s accounts is an attack on all South Africans’
Banks are perfectly entitled to serve whichever customers they choose.
08/08/2023
“Don’t Write-Off”: CBN Sets Sanctions for Top Directors Taking Loans as 4 Banks Approve Over N112bn
The banks include Union Bank of Nigeria, Stanbic IBTC Holdings, Sterling Bank, and Access Holdings.
08/08/2023
Nod to more muscle for CBK to regulate liquidity
The CBK’s proposal entails stopping the transfer of net profits to the general reserve until the new reserves reach a maximum amount of 5 billion dinars, which is four times higher than the previous ceiling of 1 billion dinars.
08/07/2023
New finance laws look to stop government corruption in South Africa
This aims to stop the corruption that is fraught in the current decentralised procurement system.
08/07/2023
Access Bank, Zenith Bank, Stanbic IBTC, 11 Others Increase Interest Rates on Savings Deposits
About 11 commercial banks have announced different interest rate increases on Savings
08/04/2023
African Development Bank organises training to bolster public capacity for debt management
About 110 participants from 45 African countries attended the training.
08/03/2023
West African central bank freezes Niger’s accounts
On the same day, the Economic Community of West African States (Ecowas), a larger regional grouping, also imposed sanctions on
08/03/2023
Standard Bank to shut Independent Media accounts
The letters, signed by Herbert Smith Freehills South Africa Attorneys Inc, were issued on July 21 and gave Sekunjalo a 30-day notice period before closure of the accounts.
08/02/2023
Govt to scrap paper, goes digital
He noted that the commission would continue to drive broadband penetration, which would provide the backbone upon which the process will thrive.
08/02/2023
State eyes billions stashed abroad in extradition rules
A fugitive who consents to be returned to another country for prosecution under the new law shall be advised on his or her rights as well as the legal consequences of the simplified procedure.
08/01/2023
Bank of Ghana spends GH¢358m on banking supervision in 2022
A 409% jump from 2021
07/31/2023
CBN Raises N406.1bn From NTB Market in July Amid Attractive Yield
The implementation of new government foreign exchange policies has also contributed to a renewed interest in the stock market.
07/31/2023
AfDB approves $70 Million risk-sharing agreement with Morocco’s BCP to develop foreign trade
It also intends to help SMEs operating in several African countries gain access to trade finance instruments.
07/31/2023
Bank of Ghana makes GH¢55.12b loss from haircut in 2022
In addition, the Bank incurred revaluation losses on its foreign assets and liabilities due to exchange rate depreciation, leading to a total loss of GH¢55.12bn equity in 2022.
07/28/2023
CBK to consult IMF when it loses handle on inflation
The CBK is required to explain reasons why inflation has breached the upper limit and discuss with the lender potential policy responses and the outlook on inflation.
07/28/2023
South Africa asks US for early extension of trade pact
Deal would encourage more investment on the continent, says minister
07/27/2023
New laws to help businesses in South Africa get funding are coming
The PA can also designate certain actions as not being the “business of a bank” for purposes of the Banks Act.
07/27/2023
CBN limits transactions on PAPSS by dealer banks to $200,000
In June 2023, PAPSS signed a memorandum of understanding (MOU) with five African multinational commercial banking groups for seamless cross-border trade payments.