08/17/2020
Government’s plan to use South African pensions
The main purpose is to protect the members’ retirement provision from the effects of poorly diversified investment portfolios.
Regulation,Tax & Compliance
08/17/2020
Congo's central bank makes huge rate hike to 18.5%
The regulator had lowered the rate from 9% in March in order to cushion the economy from the impact of the coronavirus pandemic, following similar actions by African central banks as the virus spread across the continent.
08/17/2020
Board of UBA Approves Audited Half Year Financial Results
The statement reads “Please refer to the announcement dated July 28, 2020 which notified the Nigerian Stock Exchange and the investing public of the Board Meeting of United Bank for Africa Plc.
08/17/2020
Adam Bonah Warns Of More Cyber Fraud Threat In Banks
He further admonished the general public to be vigilant in order not to fall prey to scammers who are after their hard-earned cash.
08/17/2020
We are not expecting another banking crisis in Nigeria, says Fitch’s Dissanayake
At this stage, it is very difficult to predict how bad it will get or even provide you with a forecast impaired loan ratio for FYE20.
08/17/2020
EBRD and CaixaBank boost SME financing in Morocco
In Morocco, the EBRD was one of the first financial institutions to develop financial and advisory instruments to mitigate the impact of the COVID-19 pandemic on the economy.
08/17/2020
As banks issue warnings to investors, who will be the biggest loser?
The bank is expecting up to 85% slump in its earnings for the six months to June.
08/14/2020
Sh9 billion Covid cash lies idle in CBK vaults
Donations comprise Sh215.9 million from voluntary pay cuts by public servants, including President Uhuru Kenyatta and his Cabinet secretaries, as well as another Sh300.9million in contributions from individuals and private firms.
08/14/2020
New streamlined permits regime introduced in Mauritius
New rules announced in the Budget speech
08/14/2020
Global Anti-Money-Laundering Fine Amounts Released
For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.
08/14/2020
Cooperative Credit Unions sensitised on anti-money laundering
The Cooperatives Act 2016, he further recalled, makes provisions for the setting-up of a Co-operative Audit Unit within the Ministry Industrial Development, SMEs and Cooperatives.
08/13/2020
Standard Chartered and Airtel Africa form partnership to drive financial inclusion across Africa
Standard Chartered and Airtel Africa will work together to co-create new, innovative products aimed at enhancing the accessibility of financial services
08/13/2020
Banking sector fraud cases up in 2019 – Bank of Ghana
The alarming rate of involvement of bank staff in the perpetration of fraud in the banking sector, calls for significant reforms in the engagement, remuneration and disengagement processes of employees and contractual staff of financial institutions.
08/13/2020
Nigeria’s ATI membership to help attract investments
The IMF predicts that falling oil prices will halve Nigeria’s export earnings to US$26bn, which traditionally accounts for 90 per cent of the government’s budget.
08/13/2020
Sombank Selects Temenos Cloud-Native Technology to Deliver Digital Islamic Banking Services in Somalia
Temenos technology will enable Sombank to accelerate digital transformation and offer a unified banking experience to customers in branch and online
08/13/2020
Apollo Fintech Announces Completion of the First Blockchain National Currency Platform
NPP enables a central bank to issue a sovereign, digital currency for national adoption.
08/12/2020
Mauritian Government Adopts New National Budget Measures in the Finance (Miscellaneous Provisions) Act 2020
The Bank of Mauritius Act has also been amended to introduce the concept of “digital currency” as the central bank digital currency issued by the Bank of Mauritius.
08/12/2020
DTB inks Sh5.4bn World Bank loan deal for SMEs
Small-sized businesses have been hardest hit by the economic effects and uncertainty of the pandemic, weakening their ability to save and tap loans.
08/12/2020
Equity pays Sh1bn less in buyout of DRC bank
Banks are now grappling with multiple risks including loan defaults as the disease and measures taken to control it hurts customers’ incomes.
08/12/2020
Employers beware: POPIA and consequent liabilities for employers
It is also important to note that the most commonly processed personal information is actually employee data.