03/15/2023
South African shares slip as U.S banking crisis continue to weigh
The blue-chip Top 40 index closed around 0.5% lower while its broader all-share index was down around 0.7%.
Regulation,Tax & Compliance
03/15/2023
Stanbic Bank's parent lender ready to writeoff $81m of its bond losses
Standard Bank on Thursday joined FirstRand Ltd. in accounting for the impairment. Ghana has an estimated ¢576 billion of public debt.
03/14/2023
Court Freezes Firms’ Account in 22 Banks over Alleged Violation of CAMA
The judge also directed all the affected banks to file and serve on the Plaintiff’s counsel within seven days of receipt of this order
03/14/2023
Cheques from rival banks to be cleared in a day
Kenyan banks in 2013 cut the clearing time for a commercial bank cheque to one day
03/13/2023
Nigeria Takes Bold Step to Become Africa’s First State To Adopt Open Banking Regulations
The open banking regulation in Nigeria was initially proposed in 2017
03/10/2023
Nigeria Greenlights Open Banking to Deepen Financial Inclusion, Boost Innovation
The release of the final guideline marks the end of a long journey towards open banking adoption in Nigeria
03/10/2023
Central Bank of Nigeria releases operational guidelines for open banking in Nigeria
The circular by the Bank states that all participants in open banking shall adhere strictly to security standards when accessing and storing data
03/07/2023
NSE extends chairman Kiprono Kittony's term by one year
Mr Kitonny became chairman of the bourse in July 2020 following the retirement of Samuel Kimani.
03/07/2023
Kenya’s central bank freezes top banks’ bid to hike loan rates
Move has protected most borrowers, particularly those in the informal sector
03/06/2023
CBK freezes top banks’ bid to increase borrowing rates
The regulator had asked banks to submit new loan pricing formulas that would be the basis of setting interest rates in an environment where the government stopped controlling loan costs.
03/06/2023
Banks’ credit to govt rises by N11tn – Report
This in turn was driven by FGN’s borrowing from the Central Bank of Nigeria.
03/06/2023
CBN releases N114bn under 100-for-100 policy
According to the guidelines for the implementation of the initiative, the CBN fixed the maximum loan amount that a participant could get at N5bn.
03/03/2023
New rules for plastics and packaging in South Africa
The newly published standard is listed as the South African National Standard (SANS) 1728.
03/03/2023
Central Bank in the spotlight as lenders run out of dollars
Having banks, including the top tier lenders, run out of the greenback suggests an escalation of the currency woes that started mid-last year with lenders rationing scarce dollars.
03/03/2023
Kenya set for IMF funds quota raise on reforms
Kenya’s SDR quota at the IMF is currently at 542.8 million, or Sh91.8 billion (722.95 million), offering the country a critical buffer in case of external shocks.
03/03/2023
Three banks MDs to retire in 2 years in obedience to new CBN rule
The next CEO is to retire in the next two years is Moruf Oseni, managing director of Wema Bank
03/01/2023
Kenya Power plans bill payments in dollars, euros to avoid FX losses
Utility provider says continued weakening of the shilling is impacting its financial performance
03/01/2023
Regulator rejects payment of electricity bills in dollars
The utility hopes the settlement of bills in hard currencies will shield it from foreign exchange losses for expenses such as loan repayments that are often dollar-denominated following the depreciating shilling.
03/01/2023
Private sector gets N42tn bank loans – Report
"In addition, the bank released the sum of N48.30bn under the N1.0tn real sector facility to seven new real sector projects in agriculture, manufacturing, and services."
02/28/2023
KCB to open 12 new outlets in Kenya and Tanzania
The 12 branches will take KCB Group’s combined network to 510 branches from 498 last September, compared with its rival Equity Group which closed the period with 353 branches.