02/23/2023
Court suspends 30pc tax on lumpsum pension pay
The High Court suspended the implementation of the law on Monday, pending the determination of the petition filed by two pension associations.
Regulation,Tax & Compliance
02/23/2023
Rooftop solar tax breaks – what it means for complexes and sectional titles in South Africa
To qualify, the solar panels must be purchased and installed at a private residence, and a certificate of compliance for the installation must be issued from 1 March 2023 to 29 February 2024.
02/23/2023
How Abu Dhabi Fund’s first development project in Nigeria will serve the community
The project is expected to stimulate commercial activities and improve transport links between the main cities in the country
02/22/2023
Standard Bank fires 82 staff involved in MyMo accounts debacle
The bank investigated more than 200 employees for illegitimately activating digital bank accounts in the names of clients without their consent
02/22/2023
Treasury’s long-delayed financial management system finally set for use
Department bought software licences from Oracle for R390m in 2016 and has been paying for maintenance and support despite not using them
02/22/2023
Reserve Bank planning for a national grid collapse
The FSCF has since been formally constituted under South African law and is now tasked with assisting authorities in identifying and mitigating risks that could threaten the functioning and stability of the country’s financial system.
02/22/2023
Big jump in domestic worker pay in South Africa – here’s how much you should be paying
According to the department, however, most jobs earning the minimum wage will see their wages increase to R1,144 a week (45 hours) or R4,957 a month (195 hours).
02/21/2023
Nigeria, Gambia oil firm sign pact to explore, develop crude oil
The agreement will see the two companies jointly explore and evaluate potential oil resources in Gambia
02/21/2023
World Bank clout rises as China cuts Kenya loans
The multilateral institutions have forked out billions of ‘rescue loans’ to Kenya, pushing their share of debt by more than a third to $17.9 billion
02/21/2023
Ethiopia eyes Sh19bn fee for M-Pesa entry
An investment protection fee is the amount paid by foreigners to invest in businesses exclusively reserved for domestic investors or the government.
02/21/2023
KCB sets up special team to recover bad loans
“Relationship teams are designed to grow business, they are not necessarily competent in matters regarding recoveries, restructuring and nursing struggling borrowers,” Mr Russo said.
02/20/2023
Saint Kitts and Nevis First CARICOM Nation to Sign Agreement with AFreximbank
The Caribbean Community (CARICOM) represents one of the largest African Diaspora regions.
02/17/2023
Rising revenue collection but still inadequate
Although the figure represents the highest level of revenue receipts in recent times, it falls short of the pro-rata budget benchmark of NGN4.7trn.
02/17/2023
Politician to seize NBK’s Sh2.5bn in Central Bank
Attempts by NBK to appeal the decision at the Supreme Court were dismissed in December.
02/16/2023
South Africa is falling apart
South Africa is currently in the grip of its worst-ever power cuts, while coal exports fell to a 30-year low in 2022 because of the poor performance of the national freight rail company.
02/16/2023
I&M waives bank to mobile fees permanently
The CBK had temporarily stopped the charges from mid-March 2020 in a bid to lower the risk of Covid-19 infections by encouraging cashless transactions but reinstated the charges in January.
02/15/2023
IMF Resident Advisor assigned to BoG to provide technical assistance
The Bank of Ghana notes that the Advisor will support the implementation of Pillar 2 and 3 of the Basel II/ III capital frameworks
02/14/2023
ZAR X exchange licence cancelled
In line with the sector’s regulations, ZAR X is now required to immediately inform all affected persons and all affected stakeholders of the immediate cancellation of its licence and cease all business of an exchange.
02/14/2023
Another state of disaster declared in South Africa
The floods have damaged homes, businesses, basic infrastructure, roads, and bridges and affected crops and livestock.
02/14/2023
World Bank urges Ghana to boost human capital to accelerate growth
The World Bank has had a productive engagement in the Ghanaian education sector over the past three decades.