10/17/2019
KRA to appeal ruling barring DCI probe on tax defaulters
The Kenya Revenue Authority plans to appeal the ruling claiming it is likely to impede efforts to fight tax evasion.
Regulation,Tax & Compliance
10/17/2019
Banks account for quarter of all taxes paid by companies
In September, the Kenya Revenue Authority said that only 33,426, or 8.3 percent, of the 401,306 companies registered for corporation tax paid up in the financial year through June 2019.
10/17/2019
Kenya’s President Rejected Rate-Cap Bill, Central Bank Head Says
Parliament could agree with the president and amend the bill to remove the rate caps, or could decide to push the bill through, which would require two-thirds support in the house.
10/17/2019
Graduate programme delivers 85% employment rate
We are in a very unique situation where we can actually welcome graduates and give them the necessary work experience that they do deserve,” said Kevin Wheatley from SPAR Southrand who has employed a number of graduates from the programme.
10/17/2019
Will Ghana’s financial sector clean-up build a stronger banking system?
The BoG also revoked the licences of two non-bank financial institutions, Express Funds International and Ghana Leasing, which have been insolvent and inactive for a number of years.
10/16/2019
New Payment Regulations Open The Door To MNOs In Nigeria
Whereas the regulations open the way for the emergence of mobile money products that are not dissimilar to those provided in other markets, there are a number of anomalies that increase the costs and reduce the attractiveness of the proposed model.
10/16/2019
Pensioners Sleep Outside Zimbabwe Banks as Savings Vanish Again
“It buys nothing,” the 62 year-old says of the pension as he stands under a purple blossomed jacaranda tree wearing a faded England track suit.
10/16/2019
Kenya debt passes Sh5.9 trillion mark
As at the end of the 2018/19 fiscal year in June, the total public debt as a percentage of the gross domestic product (GDP) was 55.2 percent with the gross amount at Sh5.8 trillion.
10/16/2019
New Regulatory Frameworks To Govern Electronic Payments & Collections And Issuance Of Bankers Acceptances & Commercial Papers In Nigeria
It provides all stakeholders with the operational procedures for end-to-end electronic payments and collections in Nigeria.
10/16/2019
AYO refutes siphoning funds abroad
Responding to MPs who questioned the PIC about its loans to companies like Sekunjalo and allegations the fund had paid an inflated fee per share for a major stake in the Sekunjalo-owned AYO Technology, Dlamini assured the parliamentarians that the PIC was
10/16/2019
As World Wavers on Free Trade, Africa Embraces It
All but one of the 55 countries recognized by the African Union have signed on to the organization’s initiative to liberalize intra-African trade in goods and services.
10/16/2019
Citigroup calls for more consistency in African banking policies
Warns frequent changes will harm the sector.
10/15/2019
Privacy of bank accounts should be safeguarded
But even in cases where agencies have a greater public good to serve, the procedure is such that a court order is required to obtain details of bank accounts without the holders’ consent.
10/15/2019
Africa’s Biggest Fund Manager Splits Roles to Cut CEO Power
During the government probe witnesses alleged that questionable investment decisions were made and politicians attempted to influence others.
10/13/2019
World Bank warns Kenya over $85.7b debt ceiling
The possibility of Kenya sliding into distress is classified as ‘moderate’ having risen from ‘low’ in recent years, driven by the government’s rapid uptake of loans
10/13/2019
US blacklists S. Africa's Gupta family over 'widespread corruption'
The sanctions immediately freeze any assets the blacklisted individuals have under US jurisdiction and forbid Americans and US businesses -- particularly international banks with any US operations—from transactions with them.
10/11/2019
Equatorial Guinea signs Lusophone Compact: new milestone in initiative to accelerate sustainable private sector development
The Portuguese Government has allocated Euro 400 million in guarantees and other risk sharing mechanisms in the 2019 national budget to support the implementation of the Compact
10/11/2019
Banks’ rake in P1bn in profits
Bank of Botswana figures released this week show that the record profits in the first seven months of the year were powered by higher net interest income of P2.5 billion compared to P2.2 billion for the corresponding period last year.
10/11/2019
Barclays is changing to Absa - A new brand of possibilities
The Group has a presence in 12 African countries, Botswana, Ghana, Kenya, Mauritius, Uganda, Seychelles, South Africa (Absa Bank), Tanzania (Barclays Bank)
10/11/2019
Banks holding TBs should restructure for forex loans
As at June last year, a total US$4 billion Treasury Bills were taken by the country’s 17 financial institutions with half the amount maturing this year, but a significant amount has since been rolled over to maturities of between 3 and 6 years to co