10/05/2022
Reserve Bank sees need to raise rates further
At 6.25%, the benchmark matches its January 2020 level
Regulation,Tax & Compliance
10/05/2022
World Bank backs new push for loan restructuring amid Eurobond freeze
World Bank warning echoes what Central Bank of Kenya (CBK) Governor Patrick Njoroge told Bloomberg News that the financial markets have frozen Kenya out, making it difficult to maintain relationships in the capital markets and borrowing.
10/05/2022
Kenya: Cash-Crisis at First Community Bank as Customers Unable to Withdraw Funds
"We acknowledge that our customers may currently be experiencing challenges in some of their transactions occasioned by panic withdrawals informed by malicious rumors."
10/03/2022
Shift in scams targeting banks in South Africa
The alerts sent by the scammer can be related to loss of data, update credentials or system breakdown, which results in theft of passwords, credit card numbers, bank account details and other confidential information.
10/03/2022
N25m fine: Pay PUNCH 28-year debt, court tells AGF
The AGF, on behalf of the other judgment debtors, dissatisfied with the court’s judgment, appealed the judgment at the Court of Appeal but on March 18, 2004, the court dismissed the appeal of the judgment debtors.
09/30/2022
Four African central banks take policy decisions
In its press statement, the board said it acted to stem rising inflation, which had reached 8% in August.
09/30/2022
Fidelity Bank, SMEDAN Sign MoU to Bridge $158.1bn SMEs Financing Gap
Digital tools are improving the speed and ease with which credit can be disbursed and SMEDAN is willing to partner with as many funders as possible.
09/30/2022
W’Bank Approves $750m to Strengthen Business Enabling Environment in States
Nigeria’s 36 states and the Federal Capital Territory are capable to catalyse private investment but vary significantly in their efforts and ability to do so
09/29/2022
CBN lends N9.3tn to businesses, manufacturers take 31%
Any person who borrowed from us will pay back.
09/29/2022
Africa Co-Guarantee Platform partners reaffirm commitment to catalyzing trade and investment
The partners pledged to extend direct transaction support for specific projects, including infrastructure development and optimizing balance sheets by sharing risk.
09/28/2022
Afreximbank welcomes the adoption of factoring laws in Niger and Burkina Faso
The factoring law will ensure certainty and confidence and will create a facilitative environment for the conduct of factoring transactions including clarity in the taking of assignments and enforcement of the rights of the factor.
09/28/2022
Côte d’Ivoire: African Development Bank signs grant agreement for $400,000 with Caisse des dépôts to support micro-enterprises.
The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank.
09/27/2022
South Africa & Europe Business leaders unite
In times of profound socio-economic change and unexpected challenges such as the ongoing energy crisis, rising inflation, and disruption in the global supply chain, Africa is at the core of this transformation.
09/27/2022
BoG charge banks to deploy strong risk systems to sustain financial stability
Mr. Gyasi believes banks must make efforts in sustaining the gains chalked so far.
09/26/2022
Tanzania central bank to reduce liquidity to tackle inflation
The policy decision aims at reducing inflationary pressures, while safeguarding economic activities.
09/23/2022
South Africa perplexed by ZAR 90bn of unclaimed assets
Most of which sits in retirement funds in part because of inadequate record keeping by intermediaries
09/23/2022
Ghana government signs agreement with banks to push YouStart implementation
Through the partnership, the PFIs would provide a loan facility of about GH¢5 billion in the next three years, ranging from GH¢100,000 and GH¢500,000 to businesses under the programme.
09/23/2022
CBN issues “no objection” to FBN Holdings’ acquisition of Access Pension
“The transaction has the “no objection” of the Central Bahk of Nigeria as well as the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission”, the statement reads.
09/23/2022
Sarb announces its repo rate hike
Three members of the MPC committee preferred the announced increase, two members preferred a 100 basis points' increase.
09/22/2022
Gov’t, Banks to push YouStart implementation
The funds would be used to meet the working capital requirement of businesses