12/19/2022
South Africa’s new ‘two-pot’ retirement system – everything you need to know
The new system is set to come into effect on 1 March 2024.
Regulation,Tax & Compliance
12/19/2022
Government takes giant step to prevent potential greylisting
Important legislation will be in place when the global financial crimes watchdog meets in February.
12/19/2022
KCB finalises acquisition of DRC bank after regulatory approval
KCB announced the acquisition deal with TMB shareholders in August, and is expected to close by end of this month.
12/19/2022
Angola: African Development Bank Group approves $10million Trade Finance Transaction Guarantee to Banco Fomento de Angola S.A. (BFA)
The African Development Bank will provide up to 100% guarantee to participating banks for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by BFA.
12/19/2022
Sanlam-Allianz venture set for completion in six months
The agreement is subject to certain conditions precedent that Sanlam and/or the Allianz Group would be required to fulfil for each jurisdiction.
12/16/2022
IFC, Nimble Group, and South African Lenders Launch Facility to Help Resolve Distressed Assets
The facility of up to ZAR 2.8 billion capital (equivalent to $165 million) will acquire NPLs in Botswana, Eswatini, Kenya, Lesotho, Namibia, and South Africa and invest in financially distressed businesses in South Africa.
12/15/2022
Afreximbank, Eximbank sign $500m deal to revive African airlines
U.S. is the country’s largest pool of capital.
12/15/2022
Chartered Institute of Bankers to redesign academic curricular
He promised that the institute will continue to uphold and enforce its code of ethics and professionalism.
12/15/2022
Banks warn clients of cyber scams
Everyone is warned to take care of their banking accounts as we approach December holidays.
12/15/2022
Absa, fintech in deal to increase loans for women-led businesses
The partnership is geared at bridging the widening funding gap for women-led businesses which AGF estimates at $42 billion in Africa.
12/14/2022
2022 Africa Visa Openness Index shows improvement in visa policies across continent
Domestic restrictions included a gamut of measures such as prohibitions on travelling between provinces, bans on non-essential movement, curfews, and rules that limited gatherings.
12/13/2022
FG appoints 5 banks for disbursement of N278.5bn CVFF
Recall that deductions from all contracts within the Cabotage area by Nigerian shipowners started 17 years ago with stakeholders calling for the disbursement to aid the nation’s shipping capacity.
12/13/2022
Ghana: Ga Rural Bank Threatens Court Action Against Loan Defaulting Customers
As part of plans to clean the books and reposition the Bank, Mr Tetteh said, the Bank was engaging the services of two debt collecting firms to assist management to recover all debts.
12/12/2022
United Arab Emirates (UAE) leaders congratulate transitional President of Burkina Faso on ‘Republic Day’
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, sent similar cables to Ibrahim Traoré and to Burkinabe Prime Minister Apollinaire Kiélem.
12/12/2022
MPs’ local staff go for three months without salaries
State officials face jail for failing to implement MPs’ directives Mr Wetang'ula was not in the House at the time
12/12/2022
Kenya pays extra Sh5.4 billion for foreign debt on strong dollar
“The Kenyan currency has been depreciating against other currencies, leading to the growth of the country's external debt.”
12/12/2022
CIBN Grants Practising License to EDP Consultants
The Entrepreneurship Development Programme of the Institute is aimed at sharpening the entrepreneurial skills of professional members of the Institute to enable them to successfully build capacity and win in the business ecosystem including Small & Me
12/12/2022
FSDH Merchant Bank, IFC To Boost Businesses with $33m Facility
This partnership reflects IFC’s strategy to engage the private sector as a way to end extreme poverty, promote economic growth, and boost shared prosperity in emerging markets and developing countries
12/09/2022
Kenya central bank restores mobile money transfer fees
It also allowed free transactions on small payments through the M-Pesa mobile payments network, though it withdrew this accommodation at the end of 2020.
12/09/2022
International Monetary Fund (IMF) Staff Concludes Visit to Zambia
This will be formally assessed in the context of the first review of the Extended Credit Facility arrangement, which is expected to be undertaken in Spring 2023.