10/05/2020
Nigeria widens markets’ depth with central counterparty clearing houses
SEC’s approval-in-principle has been described as a ground-breaking development which opens up the financial markets to possibilities of permissible products.
Regulation,Tax & Compliance
10/02/2020
Kenya and France sign three bilateral deals to boost economic ties
The highway is one of the largest PPP projects in Eastern Africa.
10/02/2020
African Development Bank wins global award for COVID-19 bond issue
The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the first time in 12 years
10/02/2020
Ghana should consider revising pension age
According to Mr Atta Krufi, Ghana’s retirement age of 60 years could result in losses in the workplace in both human and financial resources.
10/02/2020
Announcement from the Ministry of Financial Services and Good Governance - Mauritius
Mauritius had already agreed to implement a detailed Action Plan within an agreed timeline with the FATF, to be removed from the FATF list and subsequently from the EU list.
10/02/2020
Monetary policy failed to cushion consumers in Q2
This failure had two main components.
10/02/2020
ICA to offer financial crime prevention education in East Africa
The need for effective financial crime prevention training has never been more pronounced
10/01/2020
Bank eyes Mozambique, South African markets
The bank said the first is an initial cash consideration for a 49 per cent shareholding, increasing to a majority stake in the second tranche.
10/01/2020
Treasury reopens long-term bonds in Sh50 billion sale
The government is targeting to raise Sh50 billion from the two-tranche bond issue, intended for general budgetary allocation.
10/01/2020
Banks get CBK's nod to start blacklisting loan defaulters at CRBs
The CBK announced the suspension of CRB listing for loans that were defaulted after April 1, and the relief was to last for six months to September 30.
09/30/2020
Lenders exempted from mortgage cap in State-backed plan
KMRC will lend to banks and financial co-operatives at an annual interest of five percent, enabling them to write home loans at rates lower than average market rate of 11.94 percent.
09/30/2020
Opec Fund lends Sh2bn to bank for SME loans
Ms Vivienne Yeda, the director general of EADB, said the funds will be deployed to "promote enterprises that generate employment opportunities, social economic development and consequently promote regional integration."
09/29/2020
New case deals with the freezing of bank accounts in South Africa
“In the matter of Houtbosplaas (Pty) Ltd v Nedbank Ltd, the applicant companies had a complex shareholding structure. In essence, the shares were held by four registered trusts,” said Janse van Rensburg
09/29/2020
Booming Africa crypto adoption sparks regulation concerns
The rapid growth of blockchain technology in Africa has raised concerns over a heavy-handed regulatory response that would hinder local innovation.
09/29/2020
US, Somalia ink debt relief deal
Mr Yamamoto stated that the US commends Somalia on its efforts towards economic reform.
09/29/2020
US warns Kenya over shilling manipulation
Kenya and the US on July 8 formally launched negotiations for a bilateral trade pact that the two countries hope could serve as a model for additional agreements across the African continent.
09/29/2020
Sterling Bank gets CBN approval for restructuring
Sterling Bank has obtained the CBN’s approval in principle to enable it restructure as a Holding Company.
09/28/2020
South Africa’s updated laws could see more taxes in some areas, say experts
Unfortunately, these tax amendments do not appear to have been the result of a holistic approach to the issue and are somewhat one-sided in SARS’ favour, says law firm Webber Wentzel.
09/28/2020
Reserve Bank rhetoric abandoned by ANC as it guns for land expropriation
With the country emerging from the Covid-19 pandemic (and, it might be added, the economic devastation of the lockdown), South Africa had more pressing priorities.
09/28/2020
CRB listing freeze ends as loan defaults jump
Failure to extend the suspension means that banks, saccos and microfinance firms will be free to provide negative credit information to the three CRBs, shifting the focus to CBK governor Patrick Njoroge.