10/11/2023
NCBA to raise interest rates for second time
NCBA Group had reviewed the cost of loans to 13 percent from August 1, a decision that it had attributed to the increase in the base lending rate by the Central Bank of Kenya (CBK).
Regulation,Tax & Compliance
10/09/2023
African Development Bank, IOM collaborate on joint report on diaspora engagement, climate-induced migration and skills mobility
Both institutions are prioritizing ways to mitigate the negative impacts of migration, while fostering resilience and economic development and leveraging the potential of Africa's human and economic capital.
10/06/2023
Islamic banking industry remains underdeveloped in Africa - Moody's
Shari'ah compliant banking assets make up only around 2% of Africa's global Islamic banking assets
10/06/2023
Experts want taxpayers registered at birth
The experts also proposed the need for the introduction of a personal identification number (PIN) categorisation for employees, students, and businesses to prevent dormant PINs.
10/06/2023
New currency for South Africa, China and Russia – Godongwana draws the line
It was heavily speculated ahead of the BRICS Summit in August the bloc would put forward a proposal to create a new currency between the participating nations to ease trade and to side-step sanctions imposed by the West.
10/05/2023
Access Bank announces $60m trade finance deal with British International Investment
The agreement was inked on Tuesday between Mr. Kumapayi and Mr. Admir Imami of BII in Lagos, Nigeria.
10/04/2023
Banks’ Borrowing from CBN Hits N2.68trn on Liquidity Pressure
According to findings, banks and merchant banks during the first nine months of 2023 accessed the SLF window against the backdrop of CBN’s tightening monetary policy stance.
10/04/2023
Why banks are whittling down stocks of State papers held for sale
The cut in government securities held for trade has been attributed to commercial banks seeking to avoid mark-to-market losses as interest rates on the securities lift off.
10/03/2023
Big win for business and government’s plan to save South Africa
The unit – along with Units 1 and 2 – were taken out of service last year following the collapse of a flue gas desulphurisation duct.
09/29/2023
CBN will spend $3bn loan to stabilise economy – NEC
On August 16, the Nigerian National Petroleum Company Limited revealed that it secured an emergency $3bn crude repayment loan from Afrexim Bank to relieve pressure on the naira.
09/29/2023
Banks cut lending as defaults increase to Sh586 billion
Banks have been increasing their attention to government papers given the sustained rise in the yields on T-bonds and T-bills.
09/27/2023
Extension for 27 bank branches offering Smart IDs and Passports in South Africa
The department has counted six branches for Nedbank, but the group confirmed that it only has five branches in the pilot.
09/26/2023
South African regulator withdraws licence of asset manager
After it found the firm had ‘significant compliance deficiencies’
09/26/2023
Employers’ headache as pay deductions cross two thirds
Employers said new statutory deductions and the mounting interest rates have significantly raised the monthly deductions on employee payslips
09/26/2023
Companies feel pain of rising loan interest rates
The rates on the 182-day and 91-day T-bills are lying just shy of the 15 percent mark at 14.94 percent and 14.79 percent respectively.
09/26/2023
NITDA warns Nigerians over cryptocurrency giveaway scam
The agency also cautioned Nigerians to be wary of any giveaways on social media, especially cryptocurrency giveaways.
09/26/2023
Reserve Bank adds to concerns over South Africa’s spending risks
Tax revenues fall short of spending, and debt issuance to make up the gap has boosted yields.
09/25/2023
Reserve Bank warns ANC over spending risks
Tax revenues fall short of spending and debt issuance to make up the gap has boosted yields.
09/25/2023
Beware: your employer can take away your pension benefits in South Africa
If the employee gets access to their retirement benefits, it is unlikely that the employer will get those monies back.
09/25/2023
Fraud warning for South Africa – the latest scams to watch out for
Karrim explained that these loan scams are often “Advised fee scams”