10/15/2015
Zimbabwe to approach World Bank, IMF for new loans: finmin
Without any balance of payment support and starved of foreign credit, Zimbabwe is running its budget hand-to-mouth, leaving it with virtually no money for infrastructure.
Regulation,Tax & Compliance
10/15/2015
UT Bank’s recovery strategy showing positive results
The Bank has experienced financial challenges in the last two years, culminating in operating losses in the first four months of this year.
10/14/2015
Kenya Places Imperial Bank Under Statutory Management
Imperial is the second lender to be taken over by Kenyan regulators since Patrick Njoroge became governor of the central bank on June 19
10/14/2015
Ecobank Nigeria, Deutsche Bank Seal Deal on Trade Financing
The bank’s offering of a GSM-102 program will guarantee credit to encourage financing of commercial exports of US agricultural products, while providing competitive credit terms to buyers.
10/11/2015
IMF, World Bank Pledge to Help Kenya Tame Illicit Financial Flows
The World Bank and International Monetary Fund committed Friday to assist countries like Kenya build capabilities in developing domestic policies and practices that reduce such flows.
10/08/2015
Nigerian central bank offers relief to bank sector
Cuts capital reserve requirement; currency still under pressure.
10/06/2015
Islamic Development Bank approves US$895 mln for development projects in 10 member countries
The grants are aimed at boosting economic development and social advancement in member countries as well as Muslim communities in non-member countries.
10/06/2015
Mauritius signed an Investment Promotion and Protection Agreement signed with Dubai
This agreement is of strategic importance as significant economic exchanges are planned with the United Arab Emirates for major development projects, in particular the Maritime Hub of Port Louis.
10/05/2015
BAFT Launches Regional Council in Middle East,North Africa
Similar to other BAFT regional councils, the group will aggregate common issues and collaborate on thought leadership, solutions to shared challenges, and policy advocacy on behalf of the industry.
10/05/2015
SEC begins capital market firms’ audit
The Securities and Exchange Commission (SEC) would soon launch comprehensive investigative audits of capital market firms as part of post-recapitalisation process with a view to ascertaining the veracity of assets of the firms.
10/03/2015
Germany Commits 37m Euro To Boost Regional Integration
The programme is focusing on institutional strengthening of the EAC Secretariat and on supporting the implementation of the Customs Union, Common Market Protocols and Monetary Union.
09/29/2015
Swiss Join IFC to Promote EAC Corporate Transparency
The Swiss State Secretariat for Economic Affairs (SECO) and the IFC, are cooperating in the implementation of the East African Chapter of the African Corporate Governance Programme.
09/28/2015
South African ‘RDR’ is call to arms for industry
The new rules will make it clear which advisers are independent or ‘tied’ to product providers.
09/25/2015
The trouble with SA’s competition law
South Africa’s tough new competition legislation is proving hard to implement. Here’s why. By Mike Holland and Jannie Rossouw.
09/25/2015
Nigerian Firms In Trouble As Central Bank Measures Bank Fire
The central bank has restricted access to foreign currency to import 41 categories of items to stop a slide of the naira but the Manufacturers Association of Nigeria (MAN) said this in fact amounted to about 680 individual items.
09/23/2015
Mauritius: Investment Promotion and Protection Agreement Signed With Dubai
The Mauritian delegation also had meeting with potential investors
09/23/2015
With bitcoin use on the rise, African countries eye regulations
The Nigerian central bank is set to propose new rules
09/22/2015
Nigeria central bank governor under fire over currency controls
But critics say the measures are inflicting pain at the worst time for Nigeria.
09/21/2015
TSA Implementation: Banks Ponder Review of Business Models
Apart from the spirited efforts of government agencies to meet the deadline, last week was also characterised by fears of a possible liquidity squeeze in banks
09/18/2015
Angolan central bank steps in to stem currency slump
The kwanza was officially trading at 135.96 to the dollar