05/10/2023
CBN bans foreign banks’ rep office from banking business
An approved representative office is barred from carrying out banking business or any other regulated activity in Nigeria.
Regulation,Tax & Compliance
05/10/2023
Kenya to secure another $1 billion loan from World Bank
The Bretton Woods lender will be expected to wire the billions to the exchequer in a month given that the financing has been budgeted for the financial year 2022/23 ending on June 30.
05/10/2023
ENSafrica joins forces with the South African Chamber of Commerce in Mauritius
The partnership paves the way for increased knowledge sharing, cooperation, and collaboration between the legal and business communities of both countries.
05/10/2023
African Development Bank debars Goldsun Investments Company Limited for 24 months for Fraudulent Practices
At the expiration of the debarment period, Goldsun Investments Company Ltd. will only be eligible to resume
05/09/2023
Rand stays weak as markets wait for direction
The Federal Open Market Committee (FOMC) has not been explicit or clear on this, however.
05/09/2023
Property agents to remit taxes within 24 hours
It is a far-reaching proposal that is likely to increase the compliance cost for agents, according to a tax alert by audit firm PWC.
05/05/2023
Nigeria's senate approves restructure of $5bln in central bank loans
At the time of Buhari's request to parliament in December, some lawmakers questioned the plan and asked for more information on how the money was used
05/05/2023
New systems in place for SARS tax compliance – what you need to know
SARS said that this necessitated changes to its process and forms.
05/04/2023
Ethiopia to offer up to five banking licenses to foreign investors
Prime Minister Abiy Ahmed's government has promised to open up sectors previously controlled by state firms to help drive foreign investment inflows and economic growth
05/04/2023
Cyber Security, Association of Banks discuss accreditation regulations
They are, therefore, dialoging on the importance and benefits of regulations being implemented by the authority, especially for the banking sector.
05/04/2023
Taxpayers to bail out municipalities that can’t pay Eskom
As of the end of 2022, South African municipalities owe Eskom R56.3 billion – a figure which is increasing daily. Eskom has flagged municipal debt as one of the key drivers of its finance issues.
05/04/2023
Salaries plunge in real terms for three consecutive years
Energy and food prices have shot upwards, leaving many people struggling to pay their bills in an economy whose growth slowed last year.
05/04/2023
Access Bank gets approval for majority stake acquisition in Finibanco Angola
The group noted that the bank has also signed agreements with minority shareholders of Finibanco Angola S.A.
05/03/2023
New property scam on the rise in South Africa
The scammers target residents in the social housing market.
05/03/2023
BoG’s Addison: Ghana agrees to end monetary financing
Fund staff and the Ghanaian authorities reached a preliminary agreement
05/03/2023
Access Bank to get Sh37m in debt row
The amount was deposited at NCBA Bank, as security, pending the determination of an appeal filed by the ABK.
05/03/2023
How draft NHIF rules will shake up contributions
The regulations also set how much to be paid to the NHIF, how one can enrol and how hospitals can be enlisted as service providers.
05/03/2023
Gabon, Sierra Leone Accede to Establishment Agreement of Afreximbank’s Fund for Export Development in Africa (FEDA)
The signing of the FEDA Establishment Agreement by the Gabonese Republic and the Republic of Sierra Leone is a testament to the long-standing cooperation between Afreximbank and the respective countries.
04/30/2023
African Development Bank advocates for strengthening the role of multilateral development banks beyond financing
The two leaders spoke of how the private sector could play a significant role in mobilizing critical capital to ensure meaningful economic development. This
04/30/2023
African Development Bank Debars Société Bel Mabrouk Des Travaux and Investissements S.A.R.L for 13 Months for Fraudulent Practices
The Transport Sector Support Programme is aimed at the rehabilitation of the Yaoundé Bafoussam-Babadjou road, and the development of the Maroua-Bogo-Pouss and Grand-Zambi Kribi roads.