12/10/2018
SEC bans stockbrokers from guaranteed investments
According to the amendments, dealing members are not expected to enter into any relationship with a client based on a guaranteed return to the client
Regulation,Tax & Compliance
12/07/2018
CBRE and Excellerate Announce Plans for Africa and Middle East Joint Venture
The formation of CBRE Excellerate is subject to customary closing conditions, including government approvals, and is expected to be completed in the first half of 2019.
12/07/2018
Crypto to Get Regulatory Certainty in South Africa in Payment System Review
“[Seeks to] Allow/enable new or unregulated service providers, services, systems and instruments (e.g. virtual currencies, distributed ledger technologies and fintech companies)” one of the recommendations made reads.
12/07/2018
A South African's guide to moving to and making it in Malta: A mark, a yen, a buck or a pound
The move had come after a joint inspection and audit by the MFSA and Financial Intelligence Analysis Unit had found shortcomings in the bank’s anti-money laundering procedures.
12/06/2018
How Nigeria can attract and keep the right kind of foreign direct investment
Analysts are concerned that the Nigerian government’s attitude towards MTN and the two banks may erode the confidence of foreign direct investors.
12/05/2018
Emerging central banks notch up 7th straight month of rate hikes
The bank has now hiked rates by more than 4 percentage points since January.
12/05/2018
Nigeria's Diamond Bank lifted by new licence
Late on Friday it said that the central bank had approved a new licence limiting its operation to Nigeria after the disposal of foreign assets, including its British units, which would reduce its capital requirement.
12/05/2018
Mauritius tax authority issues guidance on place of effective management
The majority of the Board of Directors’ meetings must be held in Mauritius, or the executive management of the company must be regularly exercised in Mauritius.
12/04/2018
SBTC: Bank of Ghana to make provisions to regulate the financial system
The Blockchain Conference was aimed at creating awareness and network with peers, create a good policy environment for Blockchain technology to flourish, knowing the policy issues, meeting stakeholders and share best practices, having first-hand demos on
12/04/2018
Deloitte should not have missed African Bank red flags, says auditing board
The Independent Regulatory Board for Auditors says the firm ignored warnings on an overestimation of cash flows
12/03/2018
Mauritius’ SBM gets RBI approval to merge operations with its Indian subsidiary
The Reserve Bank of India Saturday said it has approved merger of SBM (Mauritius), India with SBM Bank (India).
12/03/2018
How VBS scheme broke Namibian bank
These cases are being heard while a commission of inquiry sits in Sandton, as the ruined bank’s liquidators try to track down as much as R380 million of its money that went missing in South Africa.
12/03/2018
CBN grants Diamond Bank national licence
With this approval, the bank will cease to operate as an international bank.
12/03/2018
KPMG gives away R47 million Gupta money
KPMG executive chairperson Professor Wiseman Nkuhlu said the funding was an important step in ensuring redress for the actions of the past.
11/29/2018
Tanzania central bank suspends five banks from interbank FX market
The lender was still continuing to serve its FX clients but it had lost its access to the liquidity offered by the interbank market, it added.
11/29/2018
Eskom, AfDB ink deal to expand Southern Africa power pool
The financing of the Eskom Transmission Project will result in a significant strengthening of South Africa’s transmission infrastructure.
11/29/2018
Nigeria’s Access Bank to Repay $400 Million Bond Two Years Early
Nigeria’s banking regulator allows lenders to count certain classes of debt and equity among the buffers they need to set aside to survive market turmoil.
11/29/2018
The big “money mule” problem in South Africa
This problem has become so prevalent in South Africa that the SAFPS has opened a new category of fraud specifically to deal with the issue.
11/28/2018
Ecobank reopens in Omu-Aran, 5 years after closure
Scores of customers were seen queuing up to make transactions on the ATM’s when NAN visited the bank’s premises along Aperan Way in the metropolis on Tuesday morning.
11/28/2018
SQM Frontier Management Selects BNY Mellon to Provide Custody Services
SQM, an SEC registered investment adviser focused on emerging markets, specifically frontier Africa and the Middle East, selected BNY Mellon following a competitive tendering process.