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Regulation,Tax & Compliance

06/29/2023

Namibia moves to strengthen financial sector and protect customers

Under the new bill, the minister of finance will be granted the authority to oversee and regulate banking fees, ensuring fair practices and protecting customers from overcharging.

06/28/2023

CBN reviews limits on contactless transactions

The first circular contains guidelines for banks, other financial institutions, and payments service providers on contactless payments.

06/28/2023

EBRD and Bank of Africa support MSMEs and trade in Morocco

BOA is the third-largest bank in Morocco.

06/28/2023

FG, banks plan special ID cards for senior citizens

Omokaro called for public-private partnerships in the production of the ID cards.

06/27/2023

SARS warns of new scam targeting taxpayers – this is what it looks like

SARS frequently reports on and updates its comprehensive list of over 300 scams trying to exploit the tax authority’s name.

06/26/2023

Naira devaluation pushes up vehicles duties by 40%

Stakeholders said the policy would lead to job losses in the maritime sector and a drastic fall in the number of imported vehicles.

06/23/2023

South Africa’s economy not in crisis: Reserve Bank

The central bank’s monetary policy committee has raised the benchmark rate at its 10 past meetings with the aim of bringing inflation back to the 4.5% midpoint of its target range

06/23/2023

Mixed bag for taxpayers in 51 Finance Bill changes

Duty on imported fish falls to 10 percent from the proposed 20 percent.

06/22/2023

Kenya sees shilling falling to 150 mark against dollar next June

A new report by the Treasury projects the country will pay a total Sh301,513,774,986 for $2 billion international sovereign bond.

06/21/2023

Keep away from QZ Asset Management – BoN

It is reported that QZ Asset Management’s primary goal is to build innovative portfolios that provide superior, long-term investment returns

06/21/2023

Reserve Bank is making changes for its interest rate decision next month

The accuracy of gross domestic product growth forecasts was relatively unchanged, according to the paper.

06/20/2023

Shilling breaches 140 to dollar as new CBK boss Kamau Thugge takes charge

The market will now be watching the new tricks that Dr Thugge, who served as the International Monetary Fund (IMF) Mission Chief to Botswana and Lesotho in the wake of the global financial crisis, will pull from his bag to stem the slide.

06/20/2023

The big problems South Africa just can’t seem to shake

On South Africa, the IIF notes, “the near-term direction of nonresident capital flows

06/20/2023

SEC reiterates commitment to market digitalisation: Nigeria

The assurance was given by Director General of the SEC, Mr. Lamido Yuguda during an interaction session

06/19/2023

Government is cracking down on trusts and businesses in South Africa: report

This critical step towards South Africa’s removal from the FATF greylist was among the eight areas of strategic deficiencies identified by the FATF that required South Africa to address.

06/19/2023

Financial sector fraud declines to GHS56m in 2022

The report indicated that the fraud cases involving staff decreased to 188 in 2022, as compared to 278 in 2021.

06/19/2023

CBN removes saving, withdrawal limits on domiciliary accounts

The statement was titled ‘CBN issues further guidance on operational changes to foreign exchange market’.

06/16/2023

Market sentiment rises on CBN forex guidelines rollout

So, President Bola Tinubu’s announcement of plans to unify the country’s forex rates during his inaugural speech sent the financial market into a frenzy.

06/15/2023

Currency floating: Private sector, economists back CBN as naira falls to 664/$

The CBN’s decision to float the currency was hailed by the organised private sector and economists who said the move would unify the country’s multiple exchange rate and bring sanitise the FX market

06/15/2023

New finance laws for South Africa – changing pensions and targeting auditors

In broad terms, the bill aims to amend various other pieces of legislation related to pensions, the Land Bank, the auditing profession and the Financial Commission.

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