11/22/2018
Mozambique banks in a crisis over debt standoff
Bizfirst manages the software for the Mozambican Interbank Society (Simo), which controls credit and debit cards and other electronic payments in the southern Africa state.
Regulation,Tax & Compliance
11/21/2018
‘Unclear’ expropriation laws could put South African banks at huge risk
It further urged the Constitutional Review Committee, Parliament and the relevant government departments to expedite ‘crisp, clear policy and legislative frameworks in respect of expropriation without compensation, as soon as possible’.
11/21/2018
Lender fires 34 amid rising employee-related fraud cases
“For as much as technology has simplified our world, it has also brought with it important security-related challenges,” said the lender in the report.
11/21/2018
Westpay:New certification completed in South Africa
Absa Bank is one of Africa’s largest diversified financial services group and South Africa’s leading bank group.
11/21/2018
Bank of Tanzania freezes licensing of forex bureaus
“They will all receive a notice of revocation of licences and their shops will be closed,”
11/21/2018
We equally need upward review of our pensions, senior citizens beg FG
Needless to say the payment of the balance of these arrears is long overdue
11/20/2018
KPMG, PwC others warn on Nigeria’s debt to revenue ratio
Represented by Adegoke Oyelami, also a Partner at KPMG, Salami lamented the use of devaluation to increase revenue, stating that the measure was only deceptive and not sustainable.
11/20/2018
IOSCO members found mostly compliant with Principles for Commodity Derivatives Markets
The survey provided an opportunity for IOSCO members to self-audit their current regulatory practices
11/20/2018
Ecobank Transnational Incorporated announces closure of USD 200 million syndicated loan facility
The loan will be due for repayment in November 2019.
11/19/2018
Qatar to ride on Big Four Agenda to deepen bilateral ties with Kenya
Even so, the trade balance is still in favor of Qatar, which exported goods worth $54.6 million (Sh5.4 billion) to Kenya in 2015 according to latest figures.
11/19/2018
Be wary of offshore property scams
Although offshore property is an asset class some South Africans should consider, he agrees there has been an uptick in offshore operators attempting to entice South Africans into developments -and some of these operators are less than scrupulous.
11/19/2018
Uganda has no Islamic banking three years on
Kenya and Tanzania have for years had a number of banks that are Sharia-compliant, giving product options to customers averse to interest-driven growth.
11/19/2018
African Development Bank to play bigger role in African economies by investing in infrastructure private equity
The proposal represents the Bank’s third investment with this fund manager
11/16/2018
African leaders meet for 'last push' on AU reforms
The concern there is that Egypt is very unlikely to push the reforms forward, even if it doesn't try to reverse them
11/16/2018
Taxation: Namibia removed from EU list of non-cooperative jurisdictions
The EU’s list helps to prevent tax avoidance by businesses and promote tax good governance worldwide.
11/15/2018
Bank now aims at providing tailor made solutions to Africa’s need
The bank’s network has considerably grown over the years with over 14 branches in Dar es Salaam alone.
11/14/2018
UAE and Singapore exempt from IOM disclosure rules
Conduct of Business Code exclusions also applied to Argentina, South Africa and Qatar
11/13/2018
Low Treasury fund raising tipped to force tax-free bond
These bonds have all been tenured between 10 and 20 years, thus starving the market of the shorter-term paper that it is craving, and in turn pushing investors to the secondary market.
11/13/2018
Ecobank partners with the International Federation of Red Cross and IFRC
A first project is already being rolled out in Ghana where Ecobank is launching a digital public fundraising campaign.
11/13/2018
Management contributed to collapse of Nigeria's Skye Bank -deposit insurer
In October, the government said it will prosecute those responsible for the collapse of Skye Bank in an attempt to set an example that the state will no longer bail out lenders while the culprits go unpunished.