09/22/2020
South African regulator signs deal with firm to refund investors
Several months after watchdog provisionally suspended its financial services provider licence
Regulation,Tax & Compliance
09/21/2020
What you should know about taking large sums of money out of South Africa
Powell has published a new guide for South Africans looking to take their money out of the country and the regulations that they should be aware of before doing so.
09/21/2020
Another win for FirstBank’s CEO, Adesola Adeduntan as He clinches the Forbes Best of Africa Award
The opening remark was presented by Olayinka Fayomi, Chairman, Foreign Investment Network (FIN).
09/21/2020
New York court grants IDC access to Gupta financial records from 17 international banks
In August, a Manhattan judge granted a secret court order giving the Industrial Development Corporation (IDC) access to Gupta financial records held at more than a dozen New York banks.
09/21/2020
State firm caps cheap mortgage at Sh4 million
The CBK on Friday licensed the country’s first mortgage refinance firm, paving the way for commercial banks to access long-term finance for home loans.
09/20/2020
Surge in South Africans weighing up options to leave the country
Montenegro enquiries increased by 25% in Q3 compared to Q1, and St. Lucia enquiries increased by 46% in the same period, it said.
09/20/2020
CBN grants Greenwich Trust Limited operational license for merchant banking
CBN has upscaled Greenwich Trust Limited to the status of a merchant bank.
09/18/2020
Banks In Nigeria Are Intensifying Financial Madness In Kenya
In order to raise its income and make a step in enlarging its borders, Nigeria made a few deals with Kenyan banks.
09/17/2020
AlBaraka Bank streamlines SARB reporting
When AlBaraka began updating its core banking platform it needed to ensure that the new system integrated with the SARB and complied with local legislation.
09/17/2020
Customers of defunct financial companies have started receiving their funds
On May 31, 2019, 347 microfinance companies had their license revoked by the Bank of Ghana as part of the financial sector cleanup.
09/17/2020
It’s time region had cross-border regulations for retail chains
Over the past five years, there has been several unceremonious departures from the market, of a number of retail chains that went under with millions of dollars in supplier credit, bank loans, rent and wages arrears.
09/17/2020
African Central Banks May Say They’ve Achieved What They Can for Now
A recession in South Africa and muted price development in Kenya make these nations outliers nonetheless contemplating fee cuts, though their room for maneuver can also be narrowing.
09/16/2020
Combating Fraud in Banking Industry
In recent times, the activities of fraudsters have increased and the banking sector is grappling with efforts to tackle this menace headlong.
09/16/2020
SEC Begins Regulation of Crypto-Currency Assets to Protect Investors
Thus, the burden of proving that the crypto assets proposed to be offered are not securities and therefore not under the jurisdiction of the SEC, is placed on the issuer or sponsor of the said assets," it said.
09/16/2020
Kenya Bankers Association, Huawei ink partnership to promote tech-driven financial inclusion
Kenya Bankers Association CEO Dr. Habil Olaka and Huawei Kenya Chief Executive Officer Mr. Will Meng during the signing a memorandum of understanding. Under the agreement, the two organizations will organize financial ICT-related activities.
09/15/2020
CBK income from selling forex to State doubles
This helped boost net trading income to Sh10 billion from Sh4.2 billion in 2018.
09/15/2020
AFREXIMBANK and International Islamic Trade Finance Corporation (ITFC) Partner with ARSO to Facilitate Intra-African Trade in Pharmaceuticals and Medical Devices, under the Umbrella of the AATB Program
The new initiative aims to harmonise African standards for pharmaceuticals and medical devices thereby enhancing intra-African trade, reducing substandard counterfeit products, and building resilient regional health systems
09/15/2020
Despite COVID-19 pandemic, Africa still a prime investment destination, participants affirm at African Development Bank (AfDB) webinar for Asian audiences
The webinar noted that the policy recommendations of the African Economic Outlook Supplement could be regarded as important opportunities for investments
09/14/2020
T-bills bids off target, investors focus on long-term securities
On the 182-day T-bill, the yields have gone up from 6.56 percent to 6.69 percent in the period, while the 364-day T-bill has seen its rate rise marginally from 7.52 percent to 7.56 percent in the past five weeks.
09/14/2020
Fintechs, banks battle for market share
Fintechs are firms disrupting the conventional banking model by using technology to make financial operations easier, faster and more accessible to businesses, institutions, and the general public at large (customers).