04/28/2020
Communicate State’s economic plan
In Kenya, we have only seen government giving us epidemiological scenarios, but we are yet to hear their trade-off with economic scenarios.
Regulation,Tax & Compliance
04/28/2020
SA seeks R95 billion from IMF, World Bank, NDB
The package includes a R200 billion loan-guarantee programme, tax-relief measures and R130 billion that will be diverted from existing budgets.
04/28/2020
Nigeria: We're Not Against Online Teaching - Lagos Govt
The commissioner described online teaching and learning as the future and most effective method in the face of the ravaging coronavirus pandemic.
04/28/2020
Pension, insurance sectors propose suspension of deductions to save jobs
TASK has formed a Covid-19 taskforce to support the government in assessing the potential financial risks posed by the outbreak.
04/28/2020
Kenyan banks warn of revenue loss as borrowers shielded from costs
The banks now warn of a possible financial crisis due to the anticipated revenue loss from these measures.
04/27/2020
Coronavirus | Banks may need to pitch in more to save SA businesses, says Investec CEO
And because most people understand that the drastic lockdown measures the president took were necessary, they will most likely "respond appropriately".
04/27/2020
Central bank revokes cash service provider’s trading licence
The revocation comes at a time the firm had plans to partner with licensed financial institutions such as banks, forex bureaus and mobile cash agents to grow its footprint in Kenya.
04/27/2020
African Energy Chamber calls on the Bank of Central African States to relax Forex Rules
New rules notably state that all foreign exchange transfers over $1,680 be vetted for approval by the bank
04/24/2020
CBK directive to create new credit-scoring platforms
These so-called thin files often present a big challenge to CRBs since there is no way to assign them any score in the absence of borrowing history.
04/24/2020
Treasury’s overdraft at CBK hits Sh64bn high
Money accessed from the overdraft, which is a temporary source of funds to cater for emergencies and priority payments, helps the Treasury finance short-term needs such as salaries and other recurrent expenditure like debt repayments.
04/24/2020
A R200bn shot of adrenalin for the formal economy
The R200bn loan guarantee fund is likely to be the medicine South Africa’s stressed corporate sector needs if it is to survive the Covid-19-induced economic crisis.
04/24/2020
The crisis can ‘galvanise all of us to eradicate inequality’
To lessen the damage being wrought by the response to Covid-19, the coronavirus budget mixed increased grants with more money for infrastructure and to keep businesses open through spending by state institutions and loans from local and international inst
04/24/2020
Tougher rules for borrowers seeking personal loan relief
“You may visit any nearest branch to request for a loan relief through our loan officers. You will require a letter from your employer indicating a salary cut or job termination,” one of the banks says in a notice to customers.
04/24/2020
Leonteq, Rand Merchant Bank partner to distribute structured investment products
Rand Merchant Bank head of Structuring Hendrik Fourie said: “Our collaboration with Leonteq will enable us to expand our financial services offering, thus enhancing our value proposition for clients.
04/24/2020
CRS And FATCA Update
We have summarised the key updates below which Cayman Financial Institutions (Cayman FIs) need to be aware of
04/24/2020
Prudential authority undaunted by challenges facing SA banks in Africa
G20 nations have agreed to freeze bilateral government loan repayments for low-income countries until year-end
04/24/2020
Tougher rules for borrowers seeking personal loan relief
Some banks have for instance asked borrowers seeking to defer repayment of their loans to provide letters from employers showing proof of salary cuts or job termination as a condition to be considered for the relief.
04/23/2020
Lockdown | Demand for debt repayment relief is 'vast and growing', says Nedbank
But the bank says the need for assistance which include payment holidays and additional credit extension is vast and still growing.
04/23/2020
East Africa: Lobby Urges Leaders to Prepare Joint Recovery Plan
The statement, issued at the end of the 76th Board Meeting of the EABC, said all six members of the EAC--Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan --have been affected by the viral disease.
04/23/2020
PwC Nigeria: Nigeria’s Finance Act Gets a Facelift to Attract Business and Investment
One of the core objectives of the Act is to bring the laws into line with the federal government’s policies and to generate short-term revenue to fund the 2020 Budget.