11/24/2022
Major lifeline thrown to Eskom
Diesel is needed to fuel Eskom’s open-cycle gas turbines, used to produce electricity during peak periods of demand across the nation. The turbines can cover around two stages of load shedding.
Regulation,Tax & Compliance
11/23/2022
Old Mutual launching new bank in South Africa in 2024
The group already has existing lending and transactional solutions – an unsecured lending product and the Old Mutual Money Account – with the latter handled through a partnership with Bidvest Bank.
11/23/2022
Access Bank disowns fake news on association with cryptocurrency platform
A statement by the Bank’s management dissociated the financial institution from the information pushed out by a fictitious webpage
11/22/2022
Deal signed for $5bln floating LNG facility in Nigeria
Facility expected to process 176 million standard cubic feet of natural gas per day
11/22/2022
UBA Group boss Alawuba commits to fostering economic devt, partnerships with Uganda
UBA Uganda commenced operations in 2008 starting with the opening of the main branch on the Kampala-Jinja Highway in Kampala
11/21/2022
A Caribbean-Africa partnership is happening finally, and it’s a terrific development
The MoU signing between Africa Import-Export Bank and the Ministry of Bahamas seems to be a good beginning to new relations with like-minded countries which are bearing the brunt of Western diktats
11/21/2022
Transformation laws without end
Instead of giving his stance on the question, Nxesi said that transformation laws, such as the Employment Equity Act (EEA), would remain in place until such time as its main goals were achieved.
11/21/2022
What to expect from the interest rate hike in South Africa this week
Investec chief economist Annabel Bishop is the only panellist who says the SARB will and should increase the repo rate by 100 bps.
11/21/2022
Reserve Bank talks up ‘digital rand’ for South Africa
Prioritisation was given to the FSB’s Roadmap, which aims to enhance cross-border payments by improving cost, speed, access and transparency.
11/18/2022
Banks alter business hours to beat deadline for old currency notes
Customers seek extention of deadline
11/18/2022
Titan Trust Bank mandatorily takes over Union Bank
On successful completion of this Mandatory Takeover Offer, UBN shares will no longer be traded on the Floor of the Nigerian Exchange Limited because it would be delisted.
11/18/2022
Govt hikes public sector wage offer to an effective 7.5%
Next week the union will be joined in another day of action by public service unions affiliated with the Congress of SA Trade Unions (Cosatu) and the SA Federation of Trade Unions (Saftu).
11/17/2022
African Development Bank invests $20 million in private equity fund targeting renewable energy projects in sub-Saharan Africa
Inspired Evolution Investment Management is a well-established fund manager with more than 15 years of experience and a track record of deploying more than $310 million in renewable energy projects in African counties.
11/17/2022
We are determined to help raise financial literacy to drive inclusion – Ecobank Ghana
The seminar was held to commemorate the bank’s annual flagship CSR initiative, ‘Ecobank Day’, which aims to give back to the communities where it lives, works, and serves.
11/17/2022
South Africa Reserve Bank adopts the new ISO standard
The adoption of the international standard is based on the increased regulation, ever-evolving cybersecurity threats, and customer demands for faster, more cost-effective payments.
11/16/2022
South Africa: Reserve Bank Warns of Procurement Scam
It should also be noted that all procurement at the SARB is centralised within its Procurement Division.
11/16/2022
Getting ready for ISO 20022
By now, most bankers know that ISO 20022 changes the format of SWIFT messages and, as such, has had a significant impact on IT teams.
11/15/2022
Relief for Absa bank in Sh1.5 billion secret information leakage order
The judge also certified the request as urgent and fixed it for hearing on December 14, 2022.
11/15/2022
UBA Reiterates Commitment to SMEs Development Across Africa
Because of our large network and pan-African presence, UBA is working with AfrEXIM Bank through the African Continental Free Trade Agreement
11/15/2022
South African Reserve Bank Modernises Payments by Adopting new International Standard
South Africa has become one of the first countries in the continent to adopt the International Organisation for Standardisation (ISO) financial messaging standard ISO 20022.