04/01/2021
CMA slaps Sh15m fine on Real People bosses for misuse of funds
Five of the nine executives have opposed the regulatory action at the CMA tribunal, while the four have been fined between Sh2.5 million and Sh5 million.
Regulation,Tax & Compliance
04/01/2021
Rand weakens as investors bet on US growth
Bonds also weakened, with the yield on the benchmark 2020 paper up 3 basis to 9.515%.
04/01/2021
Auditor-General continues to push for accountability
Irregular expenditure and supply chain mismanagement still rampant.
03/31/2021
Kenyattas, Co-op CEO top in Sh17bn bank dividends
The Kenyattas are set to receive Sh326 million for their combined 13.2 percent stake in NCBA Group , which has proposed a payout of Sh1.5 per share.
03/31/2021
Nigeria's Access Bank buys $60 million stake in South Africa's Grobank
Access is restructuring itself into a holding company and has received approval from Nigeria’s central bank.
03/30/2021
New lockdown rules threaten businesses looking for Easter weekend boost in South Africa
The food and beverage sector did not fare much better, with a decline of -36.1% in total income generated in the same period, it said.
03/30/2021
Another step forward for Access Bank agreement with GroCapital
“We are excited about joining the Access Bank family and look forward to contributing meaningfully to the achievements and ambitions of the Group.”
03/29/2021
This popular Golden Visa programme is changing – here’s what South Africans should
Instead, residential property investment will be directed to less-densely populated interior regions, the Azores and Madeira.
03/29/2021
SA’s first women-owned mutual bank gets approved by the South African Reserve Bank
Nthabeleng Likotsi, founder of the Young Women in Business Network (YWBN), has made history as she became the spearhead of the first majority female owned financial institution in the country to be granted a permission by the South African Reserve Bank.
03/29/2021
SEC issues new rules for warehouse, collateral management
Other requirements are that the warehouse should have appropriate security arrangements in place
03/29/2021
SARS is on a massive recruitment drive – including a director for high wealth individuals
The group said that its ‘Vision 2024’ is to build a ‘smart modern tax authority’, looking for specialised skills
03/28/2021
EU set to remove Ghana from money laundering and terrorist financing list
The European Union on May 7, 2020 announced that it put 12 countries on the list of places with weak or deficiencies in Anti Money Laundering and Terrorism financing laws.
03/26/2021
Businesses propose ‘alternative’ level 2 lockdown restrictions for Easter
Instead, the South African Liquor Brandowners Association (SALBA) has presented its own ‘alternative’ lockdown proposals, which it said will deal with short-term pressure on hospitals during the next Covid-19 surge, while maintaining economic
03/26/2021
Afreximbank, NEXIM plan $50m project preparation fund for Nigerians
“In addition to enhancing bankability, the Fund will, on a case-by-case basis, undertake feasibility studies to assess the viability of accessing markets in the sub-region, thereby promoting intra-African trade under the AfCFTA.”
03/26/2021
AfCFTA: FG to establish remedies authority to tackle fraudulent invoicing
According to him, Lagos State Government will explore all the opportunities inherent in the AfCFTA to grow its revenue and GDP base and create employment for the youth.
03/26/2021
Public invited to comment on the draft regulations on non-binding advisory opinions
The draft regulations make it clear that any advisory opinion issued is intended to be “non-binding”
03/25/2021
Stanbic IBTC to Pay N39.982 Billion Dividend for 2020 Financial Year
Stanbic IBTC Holdings on Wednesday declared a final dividend of 360 kobo per ordinary share of 50 kobo each, representing a total of N39.982 billion, for the financial year ended 31, December 2020.
03/25/2021
Land expropriation threatens to destabilise South Africa’s banking sector
Many banking crises around the world have as their starting point the decline in land-based property and the impact that this has on market confidence.
03/25/2021
Afreximbank, NEXIM Bank Unveil Initiative to Support Nigeria’s Exporters
The fund would assist the early development process of projects from concept stage to bankability
03/25/2021
Nigeria Loses $18bn Yearly to Money Laundering, Others - CISLAC
A case in point, according to him was the ongoing corruption in investor state arbitration between Process and Industrial Development (P&ID) versus Federal Republic of Nigeria.