05/20/2020
Treasury expects Kshs 500 billion shortfall
The shortfall has been caused by reduced tax collection from workers and businesses.
Regulation,Tax & Compliance
05/19/2020
EU lists Mauritius as high risk country for money laundering
The EU’s revised list for high risk countries considered developments that have taken place at the international level since 2018.
05/19/2020
Mauritius: the regulatory impact of Covid-19 on the financial services industry
Relevant documents may now be provided to the Financial Reporting Council in an electronic form as part of a review of the practice of an auditor.
05/19/2020
Mauritius: companies in financial difficulty and the COVID-19 (Miscellaneous Provisions) Act, 2020
The effect of these amendments is that companies are given more time to pay debts exceeding MUR250 000 and creditors cannot put a company in liquidation for sums of less than MUR250 000.
05/19/2020
Forex reserves swell to four-month high on IMF Sh79bn injection
“Foreign exchange reserves are projected to close the year at about five months of import cover.”
05/19/2020
Afreximbank inks oversubscribed syndicated dual-currency loan
Proceeds will partly be used to refinance an upcoming syndicated loan maturity for a dual-tranche US$352.9mn and €499.6mn term loan struck in May 2017.
05/19/2020
Advisory firm to compensate client after facilitating Cape Verde hotel investment
An agreement was not reached and the case was passed on from an adjudicator
05/18/2020
Banks face fines for locking out blacklisted borrowers
The virus has triggered job cuts and hit firms’ sales on low demand for their products and services, forcing households and companies to seek loans in their struggle to remain afloat.
05/15/2020
Family bank to provide affordable credit to private healthcare practitioners
Our main aim is to ease access to capital for Private Healthcare Entrepreneurs hence promoting provision of quality essential healthcare services, acquisition of new technology and increase employment rate within the sector,” said Family Bank Chief
05/15/2020
Zimbabwe: African Development Bank approves $13.7 million to strengthen health system, boost anti-COVID-19 efforts
The funds will provide an immediate lifeline for targeted frontline responders and health personnel and boost the country’s Global Health Security Index
05/14/2020
Central banks must be careful not to get sucked into fiscal policy - Kganyago
"Banking does not work that way, the world does not work that way and the authors of our Constitution were very conscious of this when they segregated the responsibility between the fiscal and the monetary authority," he said.
05/14/2020
Banks must be bold and relevant ‘citizens’
Which is precisely why, at unprecedented times of crisis such as this, commercial banks must go above and beyond the call of duty if they’re to effectively meet the needs of its customers and communities.
05/13/2020
KQ applies for Sh7 billion emergency State bailout
Besides the bailout, the airline is also seeking other incentives like tax breaks and waivers of navigation and landing fees.
05/13/2020
UN official asks Kenya to cut remittance cost, aid citizens abroad
World Bank projects that in general terms, remittances to low and middle-income countries will tumble by $109 billion this year, from last year’s $554 billion.
05/13/2020
Morocco’s Central Bank Calls For Suspension of Dividend Distribution
By suspending the distribution of profits to shareholders, credit institutions will hold on to sufficient capital amid the COVID-19 crisis.
05/13/2020
African Bank Whistleblowers Demand Independent Probe
Whistleblowers who accused the African Development Bank president of breaching the bank's code of ethics
05/12/2020
Absa partners with HPS to roll out PowerCard across Africa
Through electronic payments, we aim to bring financial services to many more unbanked and underbanked people, reduce transaction costs and increase customer convenience.
05/12/2020
Firms, workers get Sh17bn corona rescue loans
The extra cash following the cut of the cash reserve ration had increased to Sh53.9 billion by April 25, partly due to stringent borrowing terms imposed by the banking regulator.
05/12/2020
Akinwumi Adesina: Best Man for the AfDB
The whistleblowers wanted him to be investigated for alleged breach of the institution’s Code of Conduct, in order to check fraud and corruption and prevent an institutional crisis.
05/12/2020
Central Bank tasks banks on sustainable business models
Experts seek investment in ethical hackers to check cyber threats