07/26/2022
CBN disburses N68bn under 100-for-100 policy
“Loan amount shall be a maximum of N5bn per obligor. Any amount above N5bn shall require the special approval of CBN’s management,” it said.
Regulation,Tax & Compliance
07/22/2022
African Development Bank grants Egypt $271mln for food security, private sector
Under the program, local farmers will have more access to subsidized fertilizers to be more incentivized to grow wheat
07/22/2022
South Africa raises rates more than forecast; decision split
"The aim of policy is to stabilise inflation expectations more firmly"
07/21/2022
Infrastructure Deficit: IoD Decry Paucity of Funds, Weak Fiscal Regime
The President, ECOWAS Bank for Investment and Development, Mr George Donkor, noted that Nigeria had in its priority for infrastructural growth and development, focused on policies that finance infrastructural development through Public – Private Par
07/20/2022
COMESA: African bank sign agreement on establishing Africa Cloud Ecosystem
The agreement was signed by AfDB Country Manager, Raubil Durowojul and COMESA Assistant Secretary-General Kipyego Cheluget on Thursday, July 14, 2022, according to a release.
07/20/2022
AMCON Levy Reduce Zenith Bank, 10 Others PBT to N3.15trn in 3 Years
The CBN, pursuant to Section 9(c) of the AMCON (Amended) Act 2015, informed the Bank of its shortfall in contributions to the banking sector resolution cost sinking fund for 2016 and 2017.
07/18/2022
UBA Group expands to EMEA, launches banking operations in DIFC, Dubai
The UBA branch in the DIFC will service corporate & financial Institutions and customers across the Middle East with a core focus on correspondent banking, relationship management and advisory services.
07/18/2022
South Africa: Competition Commission investigates Google’s advertising monopoly
This begs the question of whether US tech giants are monopolising the continent’s relaxed regulations surrounding technology.
07/18/2022
SRC, governors fight over Sh2.3bn exit pay
The SRC says the government will require Sh2.3 billion in the first year to cater to the juicy perks sought by governors and their deputies.
07/15/2022
Development Bank Agrees to Help Zimbabwe Clear $13.5 Billion Debt
AfDB and Zimbabwe are looking for ways Harare can get access to international financial money while the debt is being settled over a long period.
07/15/2022
World Bank approves $300mln grant to Mozambique
The World Bank money will be used to support budgetary institutions, improve transparency and the business environment
07/15/2022
Stakeholders Call for Flexible Regulation of IoT Ecosystem in Nigeria
The first book is titled ‘Datafication of Society to Foster an Internet Economy’ and the foreword was written by the Secretary General of the International Telecommunication Union (ITU), Mr. Houlin Zhao, who has had a long distinguished career
07/15/2022
Gabon: African Development Bank and Government Discuss Partnership and Development Priorities for 2023-2027
Ms. Roboty thanked the Bank “for accompanying Gabon in implementing its programmes.
07/15/2022
A top banking CEO has sent a stern warning to South Africa
South Africa has previously been found wanting in all 11 of the task force’s effectiveness measures to combat money laundering and the financing of terrorism.
07/14/2022
Central Bank Welcomes DRC’s Admission Into The East Africa Community
The DRC’s admission to the EAC also means it joins the institutions of the Community, including the EAC’s Monetary Affairs Committee (MAC).
07/14/2022
South African Central Bank to Look at Regulating Crypto
The country may also issue a central bank digital currency.
07/14/2022
AfDB Approves €87 million Loan To Expand Social Coverage in Morocco
Over the past years, Morocco has worked to integrate workers into the formal economy to generalize social protection benefits.
07/12/2022
Standard Bank drops mandatory Covid vaccines in South Africa – as new CCMA ruling calls them ‘unconstitutional’
In an emailed statement, the bank said it took a range of factors into account in reviewing its policy, including recent regulatory developments, the current state of the pandemic in South Africa, and the high vaccination rate amongst its employees.
07/12/2022
DBN to address MSMEs’ financing constraints
“With a total of about 17.4 million, they account for about 50 per cent of industrial jobs and nearly 90 per cent of the manufacturing sector.”
07/12/2022
Strict transformation rules coming for lawyers and other jobs in South Africa
The government is also expected to conclude the legislative process for the Employment Equity Amendment Bill in September 2022, in what is expected to be the vanguard of a new transformation push for the country.