03/29/2023
KRA flags betting millions paid in cash
The cash transactions have raised a red flag at a time when some punters are paying betting firms using untraceable cryptocurrencies such as bitcoin, making it difficult for KRA to collect taxes.
Regulation,Tax & Compliance
03/28/2023
Rich Kenyans dollar savings grow to Sh320bn amid shortage
The corporate bodies accumulated Sh82 billion in absolute foreign currency deposits in the year compared to Sh51.3 billion in 2021.
03/28/2023
Shuttle diplomacy that rescued the shilling
During her vetting before Parliament, Dr Koech had told MPs she would seek to put in place a functional and vibrant interbank forex market if she were approved for the role.
03/28/2023
South Africa may look to ban new petrol and diesel cars by 2035 – here’s why
Transport in South Africa is the third-largest emitting sector after energy and the metals sector, contributing about 10% of total emissions, said the report.
03/28/2023
Banks raise cash withdrawal limits to reduce queues
According to findings, most DMBs currently pay between N20,000 and N50,000 over-the-counter and Automated Teller Machines.
03/27/2023
StanChart to Sell Jordanian Business
The sale is part of broader plans announced in April 2022 to exit seven markets in Africa and the Middle East.
03/24/2023
SRC raises President Ruto’s CASs pay to Sh780,000 in new review
The current and previous administrations have been seen to use the position to reward loyalists and election losers.
03/23/2023
CBK whips banks to unlock dollars after President Ruto warning
The banking regulator says the code, which comes into effect this morning, will ‘ensure the integrity and effective functioning of the forex market in Kenya.’
03/23/2023
IMF slashes South Africa’s GDP growth forecast for 2023
The National Treasury is aware of “most of the risks to economic growth” flagged by the lender and is working on measures to address them, it said in a statement.
03/23/2023
Energy security depends on the development of South Africa’s hydrogen economy
The University of Pretoria is dedicated to researching and understanding how to address complex societal issues such as this – and has identified energy as one of its core institutional research focuses.
03/22/2023
Licensed bancassurance firms now triple on legal compliance
Now top banks including KCB, Equity, Co-operative Bank, NCBA, Absa Bank Kenya, DTB, I&M, Stanbic and Standard Chartered Bank Kenya have all been licensed to transact insurance business as bancassurance intermediaries for the year 2023.
03/20/2023
Marked parastatal CEOs as Ruto team eyes fresh faces
The new administration, which came to power in September last year has mostly fired directors appointed in the former president Uhuru Kenyatta’s last days
03/20/2023
Absa sets sights on unveiling risk-based loans in second half
Absa is among three top banks to obtain the regulatory nod to reprice loans based on the risk profile of each borrower with others being Stanbic Bank and Equity Bank.
03/20/2023
South African courts don’t always follow the rules
The rules are intended to make sure that the CCMA follows resolution processes consistently.
03/20/2023
Reserve Bank expected to hike rates again this month
The Federal Reserve’s rate path will also be key in decision-making.
03/17/2023
SARB sends a warning to government
South Africa is the world’s biggest producer of platinum and manganese and a major exporter of gold.
03/17/2023
South Africa is about to blow the budget
It reiterated its commitment to reducing the budget deficit and ensuring fiscal sustainability was maintained.
03/16/2023
New rules for businesses in South Africa
The proposed regulations, specifically those dealing with money laundering and counter-terrorism, are a direct result of the General Laws Amendment Act, 2022, which was signed into law on 29 December 2022.
03/16/2023
Dollar breaks above Sh145 as market ignores CBK rate
These trades are moving further from the Central Bank of Kenya (CBK) average rates of Sh129.52 per unit
03/15/2023
How South Africa wants to protect bank customers with deposit insurance scheme
The $42 billion bank run on SVB, the largest in American history, showed that bank customers will always take the fall for poor decisions of banking executives and hence the need to protect them.