10/18/2022
High Court freezes Equity acquisition of Spire Bank
Spire Bank’s employees through the Bank Insurance and Finance Union (BIGU) sued to block the acquisition, arguing their employer had kept them in the dark over the acquisition.
Regulation,Tax & Compliance
10/18/2022
1.6m Kenyans acquire new passports weeks to D-day
The Kenyan Government has shifted the deadline for the migration to the new travel document several times, causing confusion.
10/18/2022
Dis-Chem threatened with court action over racist hiring policy
The retailer has confirmed it will no longer employ white people
10/18/2022
Ramaphosa, ministers conclude agreements worth R270bn in Saudi Arabia
The president also invited Saudi Arabian businesses to the South Africa’s fifth investment conference in 2023.
10/17/2022
Regulators move against digitalisation risks
The policy toolkit measures related level rules for online marketing and distributio, level rules for online onboarding; responsibility for online marketing; capacity for surveillance and supervision of online marketing and distribution; and staff qualifi
10/17/2022
Banks raise cost of loans on CBK jumbo rate hike
Regulatory notices show NCBA raised its base interest rates by 1.1 percentage points from November 11 while Stanbic and Standard Chartered increased theirs by 0.75 percentage points.
10/14/2022
CBN Begins Sensitisation of MSMEs on New Borrowing Schemes
All you need to do is to walk to the financial institution, they will value what you are presenting and give you the loan.
10/14/2022
African Development Bank approves $75 million Risk Participation Agreement facility for FirstRand Bank Limited
It is estimated that when fully utilized, this RPA facility, will support approximately $500-600 million of trade over the next 3 years
10/13/2022
Court freezes three oil and gas firms’ accounts over non-disclosure of lifted crude oil
The court order directed the banks to file an affidavit of compliance within 14 days of receipt of the order.
10/13/2022
African Bank’s R1.5 billion deal to buy Grindrod Bank is ‘approved’
The acquisition started in May 2022 and it was reported that the deal to acquire Grindrod Bank was valued at R1.5-billion.
10/12/2022
Ghana finance ministry, central bank form committee for talks on IMF programme
A similar engagement will be undertaken with external bondholders, it added.
10/12/2022
CBK opens talks with telcos on separation of mobile money business
According to CBK, separation of mobile money business from other businesses by telcos will facilitate realisation of a secure, fast, efficient and collaborative payment system that supports financial inclusion and innovations that benefit Kenyans.
10/12/2022
New York Stock Exchange and JSE announce collaboration on dual listings
“The agreement that we have signed today with the NYSE will unlock opportunities for investors and issuers of both bourses,” said Fourie.
10/12/2022
Sweden reassures AfDB President of continued strong support for Africa
He explained that the African Development Bank monitored and tracked the impact of each bank investment on gender through a gender-marker system.
10/11/2022
Tribunal approves African Bank acquisition of Grindrod Bank
African Bank CEO Kennedy Bungane said: “This is an important step in the process of final incorporation and we commend the Commission and the Tribunal for their hard work and swift decisions.”
10/11/2022
Anti-money laundering task force reports successes
But the figures show there are still a lot of crooks out there.
10/11/2022
IMF Urges Nigeria to Address Institutional Corruption
Nigeria is a strong state.
10/11/2022
Switzerland shares bank details with Nigeria for first time
Five additional countries, including Nigeria, now benefit from an automatic exchange of banking information with Switzerland, taking the total to over 100 for the first time.
10/10/2022
What You Should Know About Use of Retirement Savings for Residential Mortgage (II)
The Guidelines provide that an interested applicant is required to obtain an offer letter for the property from the owner or approved agent and approach a Mortgage Lender to fill an application form.
10/07/2022
SBM sale revealed in court amid Sh11bn CBK support
The disclosure of the sale and exit of SBM Holdings from Kenya comes in a period that has seen the bank disclose it owes the CBK Sh11.3 billion offered to keep the troubled lender afloat.