08/03/2023
Standard Bank to shut Independent Media accounts
The letters, signed by Herbert Smith Freehills South Africa Attorneys Inc, were issued on July 21 and gave Sekunjalo a 30-day notice period before closure of the accounts.
Regulation,Tax & Compliance
08/02/2023
Govt to scrap paper, goes digital
He noted that the commission would continue to drive broadband penetration, which would provide the backbone upon which the process will thrive.
08/02/2023
State eyes billions stashed abroad in extradition rules
A fugitive who consents to be returned to another country for prosecution under the new law shall be advised on his or her rights as well as the legal consequences of the simplified procedure.
08/01/2023
Bank of Ghana spends GH¢358m on banking supervision in 2022
A 409% jump from 2021
07/31/2023
CBN Raises N406.1bn From NTB Market in July Amid Attractive Yield
The implementation of new government foreign exchange policies has also contributed to a renewed interest in the stock market.
07/31/2023
AfDB approves $70 Million risk-sharing agreement with Morocco’s BCP to develop foreign trade
It also intends to help SMEs operating in several African countries gain access to trade finance instruments.
07/31/2023
Bank of Ghana makes GH¢55.12b loss from haircut in 2022
In addition, the Bank incurred revaluation losses on its foreign assets and liabilities due to exchange rate depreciation, leading to a total loss of GH¢55.12bn equity in 2022.
07/28/2023
CBK to consult IMF when it loses handle on inflation
The CBK is required to explain reasons why inflation has breached the upper limit and discuss with the lender potential policy responses and the outlook on inflation.
07/28/2023
South Africa asks US for early extension of trade pact
Deal would encourage more investment on the continent, says minister
07/27/2023
New laws to help businesses in South Africa get funding are coming
The PA can also designate certain actions as not being the “business of a bank” for purposes of the Banks Act.
07/27/2023
CBN limits transactions on PAPSS by dealer banks to $200,000
In June 2023, PAPSS signed a memorandum of understanding (MOU) with five African multinational commercial banking groups for seamless cross-border trade payments.
07/26/2023
Further rate hikes on the table for South Africa
The MPC’s future decisions could also be influenced by what happens to interest rates in the US.
07/26/2023
Push to relax checks on large cash deals gets IMF attention
The Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Bill, 2023, was approved by a Cabinet meeting chaired by President William Ruto on July 18.
07/26/2023
KRA raises tax on employee benefits
The fringe benefits tax is imposed on employees receiving extra welfare benefits such as cheap loans in addition to their wages.
07/26/2023
FCTA to audit remittances of workers’ payroll deductions
The auditing of these payroll remittances signifies our unwavering dedication to a robust and meticulous financial system
07/25/2023
Uganda plans to phase out low denomination currency note
The 1,000-shilling banknote will be the first to go out of circulation, says official
07/25/2023
IMF backs Kenya's new taxes that have sparked riots
The fund last week approved almost $1 billion for Kenya to help its economy
07/25/2023
Trouble ahead for the rand
With inflation cooling, the SARB’s Monetary Policy Committee voted to keep the repo rate at 8.25% after ten consecutive rate hikes.
07/24/2023
KRA coy on fighting minimum tax ruling at the Supreme Court
It was not immediately clear why the taxman opted not to challenge the Court of Appeal Judgment at the Supreme Court.
07/21/2023
Sustained growth of monetary aggregates
The PSCE data reflects lending from all sources