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Regulation,Tax & Compliance

05/11/2023

Reserve Bank sharpens its tools for interest rates in South Africa

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

Titan Trust offers N7 per share to buy out Union Bank minority shareholders

At the close of the trading session on Wednesday, Union Bank’s share price moved up by 0.71 percent to N7.05kobo.

05/11/2023

Absa states ‘categorically’ its full compliance with employment equity laws

Bank strongly denies being issued any notice of non-compliance by the labour department.

05/11/2023

CBN bans unapproved foreign bank representatives from banking operations in Nigeria

This Guidelines, issued in exercise of the powers conferred on the CBN under the Central Bank of Nigeria Act,

05/10/2023

CBN bans foreign banks’ rep office from banking business

An approved representative office is barred from carrying out banking business or any other regulated activity in Nigeria.

05/10/2023

Kenya to secure another $1 billion loan from World Bank

The Bretton Woods lender will be expected to wire the billions to the exchequer in a month given that the financing has been budgeted for the financial year 2022/23 ending on June 30.

05/10/2023

ENSafrica joins forces with the South African Chamber of Commerce in Mauritius

The partnership paves the way for increased knowledge sharing, cooperation, and collaboration between the legal and business communities of both countries.

05/10/2023

African Development Bank debars Goldsun Investments Company Limited for 24 months for Fraudulent Practices

At the expiration of the debarment period, Goldsun Investments Company Ltd. will only be eligible to resume

05/09/2023

Rand stays weak as markets wait for direction

The Federal Open Market Committee (FOMC) has not been explicit or clear on this, however.

05/09/2023

Property agents to remit taxes within 24 hours

It is a far-reaching proposal that is likely to increase the compliance cost for agents, according to a tax alert by audit firm PWC.

05/05/2023

Nigeria's senate approves restructure of $5bln in central bank loans

At the time of Buhari's request to parliament in December, some lawmakers questioned the plan and asked for more information on how the money was used

05/05/2023

New systems in place for SARS tax compliance – what you need to know

SARS said that this necessitated changes to its process and forms.

05/04/2023

Ethiopia to offer up to five banking licenses to foreign investors

Prime Minister Abiy Ahmed's government has promised to open up sectors previously controlled by state firms to help drive foreign investment inflows and economic growth

05/04/2023

Cyber Security, Association of Banks discuss accreditation regulations

They are, therefore, dialoging on the importance and benefits of regulations being implemented by the authority, especially for the banking sector.

05/04/2023

Taxpayers to bail out municipalities that can’t pay Eskom

As of the end of 2022, South African municipalities owe Eskom R56.3 billion – a figure which is increasing daily. Eskom has flagged municipal debt as one of the key drivers of its finance issues.

05/04/2023

Salaries plunge in real terms for three consecutive years

Energy and food prices have shot upwards, leaving many people struggling to pay their bills in an economy whose growth slowed last year.

05/04/2023

Access Bank gets approval for majority stake acquisition in Finibanco Angola

The group noted that the bank has also signed agreements with minority shareholders of Finibanco Angola S.A.

05/03/2023

New property scam on the rise in South Africa

The scammers target residents in the social housing market.

05/03/2023

BoG’s Addison: Ghana agrees to end monetary financing

Fund staff and the Ghanaian authorities reached a preliminary agreement

05/03/2023

Access Bank to get Sh37m in debt row

The amount was deposited at NCBA Bank, as security, pending the determination of an appeal filed by the ABK.

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