12/22/2022
Moroccan Assets Controlled by BANK OF AFRICA Protected by New Security Partnership
Building an intricate anti-fraud culture is paramount to the growth of pan-African banking.
Regulation,Tax & Compliance
12/22/2022
Kenya to spy on accounts of ministers, judges in IMF deal
The proposed amendments to the Proceeds of Crime and Anti-Money Laundering Act and Regulations are aimed at preventing the laundering of illicit proceeds from corruption.
12/21/2022
Algeria, Germany sign MoU to build 50 MW hydrogen plant
“This project will allow Algeria to benefit from the experience of Germany, whose industry is at the forefront in the field of new and renewable energies,”
12/21/2022
IMF reveals special audit of spending in Uhuru last days
Another Sh9.45 billion was allocated for road construction and Sh6 billion for the purchase of a 60 per cent stake in Telkom Kenya, turning the operator into a parastatal.
12/21/2022
Banks reduce new naira notes per cash withdrawal
As CBN releases security features
12/20/2022
Ghana suspends part of foreign debt payments
“This suspension will include the payments on: our Eurobonds; our commercial term loans; and on most of our bilateral debt,”
12/20/2022
CMA issues four licenses to financial intermediaries
Vedman Capital Limited has been licensed as an investment adviser, to primarily advise clients about investments in the capital markets and where an agreement exists with a client, while Pergamon Financial Services has been licensed as an Investor Bank.
12/19/2022
How Pension Funds are Invested under Multi Fund Structure (4)
The regulation aims to promote financial inclusion within the Nigerian Financial System, establish standards and procedures for managing the Fund VI by licensed PFAs.
12/19/2022
South Africa’s new ‘two-pot’ retirement system – everything you need to know
The new system is set to come into effect on 1 March 2024.
12/19/2022
Government takes giant step to prevent potential greylisting
Important legislation will be in place when the global financial crimes watchdog meets in February.
12/19/2022
KCB finalises acquisition of DRC bank after regulatory approval
KCB announced the acquisition deal with TMB shareholders in August, and is expected to close by end of this month.
12/19/2022
Angola: African Development Bank Group approves $10million Trade Finance Transaction Guarantee to Banco Fomento de Angola S.A. (BFA)
The African Development Bank will provide up to 100% guarantee to participating banks for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by BFA.
12/19/2022
Sanlam-Allianz venture set for completion in six months
The agreement is subject to certain conditions precedent that Sanlam and/or the Allianz Group would be required to fulfil for each jurisdiction.
12/16/2022
IFC, Nimble Group, and South African Lenders Launch Facility to Help Resolve Distressed Assets
The facility of up to ZAR 2.8 billion capital (equivalent to $165 million) will acquire NPLs in Botswana, Eswatini, Kenya, Lesotho, Namibia, and South Africa and invest in financially distressed businesses in South Africa.
12/15/2022
Afreximbank, Eximbank sign $500m deal to revive African airlines
U.S. is the country’s largest pool of capital.
12/15/2022
Chartered Institute of Bankers to redesign academic curricular
He promised that the institute will continue to uphold and enforce its code of ethics and professionalism.
12/15/2022
Banks warn clients of cyber scams
Everyone is warned to take care of their banking accounts as we approach December holidays.
12/15/2022
Absa, fintech in deal to increase loans for women-led businesses
The partnership is geared at bridging the widening funding gap for women-led businesses which AGF estimates at $42 billion in Africa.
12/14/2022
2022 Africa Visa Openness Index shows improvement in visa policies across continent
Domestic restrictions included a gamut of measures such as prohibitions on travelling between provinces, bans on non-essential movement, curfews, and rules that limited gatherings.
12/13/2022
FG appoints 5 banks for disbursement of N278.5bn CVFF
Recall that deductions from all contracts within the Cabotage area by Nigerian shipowners started 17 years ago with stakeholders calling for the disbursement to aid the nation’s shipping capacity.