05/26/2023
The debt exchange exercise which was mostly patronised by players in the banking sector resulted in creating serious financial challenges as 16 of them recorded heavy losses at the end of the 2022 financial year.
05/26/2023
“We adjust our policy stance to deal with the effects of the exchange rate on inflation – so we are responding to inflation, not the exchange rate.”
05/25/2023
An increase of that size would be the first back-to-back 50 basis-point hikes in 15 years, when the fallout from the global financial crisis weighed on the local currency.
05/25/2023
State power utility Eskom is subjecting South Africa to outages that add up to as much as half a day because its dilapidated equipment can’t meet demand.
05/25/2023
This is as the Federal Executive Council, on Wednesday, approved a memo from the National Identity Management Commission allowing banks to print debit cards that double as National identity cards.
05/23/2023
The new laws give the employment minister the authority to establish specific numerical goals for the racial and gender diversity of designated businesses
05/23/2023
Banks increased interest rates on home loans in line with a decision by the apex bank to raise basis points, piling pressure on potential homeowners.
05/23/2023
“CBK welcomes this transaction that will diversify and strengthen the resilience of the Kenyan banking sector,” said the regulator in a statement. The CBK did not disclose the value of the deal.
05/22/2023
One of the factors that contributed to the depreciation of the naira in 2022 was the lack of forex supply from the BDC market.
05/19/2023
In South Africa, the cost of petrol and diesel includes various levies and taxes that make up 31% of the total cost
05/18/2023
Tighter monetary policy risks “creating a feedback loop for the rand,” Andrew Matheny and Bojosi Morule wrote in a note to clients.
05/18/2023
At the meeting, shareholders approved the accounts and the appropriation of profits for 2022.
05/17/2023
The cost of intra-regional remittances transfer among the IGAD member states stands at 10.6 percent
05/17/2023
Godongwana said that key among these is the outcome of the public sector wage negotiations, which the budget did not pre-empt.
05/16/2023
Aside from reviving the collapsed indigenous banks and other businesses, he said allowing for local participation and ownership in them will be a priority to revamp the country’s ailing economy and create more employment for the citizenry.
05/12/2023
The transaction will be implemented by way of a Scheme of Arrangement between the bank and the bank’s shareholders (the Minority Shareholders).
05/12/2023
Struggling power utility Eskom is implementing the worst power cuts on record lasting more than 10 hours a day for some households and businesses
05/12/2023
All new applications for VAT registration will be subjected to a more stringent registration process
05/11/2023
The monetary policy broadly refers to the process by which central banks such as SARB manage the supply and demand of money to achieve economic objectives such as price stability and economic growth.
05/11/2023
At the close of the trading session on Wednesday, Union Bank’s share price moved up by 0.71 percent to N7.05kobo.