03/20/2023
Reserve Bank expected to hike rates again this month
The Federal Reserve’s rate path will also be key in decision-making.
Regulation,Tax & Compliance
03/17/2023
SARB sends a warning to government
South Africa is the world’s biggest producer of platinum and manganese and a major exporter of gold.
03/17/2023
South Africa is about to blow the budget
It reiterated its commitment to reducing the budget deficit and ensuring fiscal sustainability was maintained.
03/16/2023
New rules for businesses in South Africa
The proposed regulations, specifically those dealing with money laundering and counter-terrorism, are a direct result of the General Laws Amendment Act, 2022, which was signed into law on 29 December 2022.
03/16/2023
Dollar breaks above Sh145 as market ignores CBK rate
These trades are moving further from the Central Bank of Kenya (CBK) average rates of Sh129.52 per unit
03/15/2023
How South Africa wants to protect bank customers with deposit insurance scheme
The $42 billion bank run on SVB, the largest in American history, showed that bank customers will always take the fall for poor decisions of banking executives and hence the need to protect them.
03/15/2023
South African shares slip as U.S banking crisis continue to weigh
The blue-chip Top 40 index closed around 0.5% lower while its broader all-share index was down around 0.7%.
03/15/2023
Stanbic Bank's parent lender ready to writeoff $81m of its bond losses
Standard Bank on Thursday joined FirstRand Ltd. in accounting for the impairment. Ghana has an estimated ¢576 billion of public debt.
03/14/2023
Court Freezes Firms’ Account in 22 Banks over Alleged Violation of CAMA
The judge also directed all the affected banks to file and serve on the Plaintiff’s counsel within seven days of receipt of this order
03/14/2023
Cheques from rival banks to be cleared in a day
Kenyan banks in 2013 cut the clearing time for a commercial bank cheque to one day
03/13/2023
Nigeria Takes Bold Step to Become Africa’s First State To Adopt Open Banking Regulations
The open banking regulation in Nigeria was initially proposed in 2017
03/10/2023
Nigeria Greenlights Open Banking to Deepen Financial Inclusion, Boost Innovation
The release of the final guideline marks the end of a long journey towards open banking adoption in Nigeria
03/10/2023
Central Bank of Nigeria releases operational guidelines for open banking in Nigeria
The circular by the Bank states that all participants in open banking shall adhere strictly to security standards when accessing and storing data
03/07/2023
NSE extends chairman Kiprono Kittony's term by one year
Mr Kitonny became chairman of the bourse in July 2020 following the retirement of Samuel Kimani.
03/07/2023
Kenya’s central bank freezes top banks’ bid to hike loan rates
Move has protected most borrowers, particularly those in the informal sector
03/06/2023
CBK freezes top banks’ bid to increase borrowing rates
The regulator had asked banks to submit new loan pricing formulas that would be the basis of setting interest rates in an environment where the government stopped controlling loan costs.
03/06/2023
Banks’ credit to govt rises by N11tn – Report
This in turn was driven by FGN’s borrowing from the Central Bank of Nigeria.
03/06/2023
CBN releases N114bn under 100-for-100 policy
According to the guidelines for the implementation of the initiative, the CBN fixed the maximum loan amount that a participant could get at N5bn.
03/03/2023
New rules for plastics and packaging in South Africa
The newly published standard is listed as the South African National Standard (SANS) 1728.
03/03/2023
Central Bank in the spotlight as lenders run out of dollars
Having banks, including the top tier lenders, run out of the greenback suggests an escalation of the currency woes that started mid-last year with lenders rationing scarce dollars.