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.
Regulation,Tax & Compliance
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.
02/28/2023
Big change for employees in South Africa from tomorrow – what you need to know
On top of provisions in the BCEA, the new threshold will also impact other areas of labour law, the legal experts said.
02/27/2023
Warning over deadlines for property valuations in South Africa
Municipalities publish a municipal roll every four years.
02/27/2023
South Africa Has Been Grey Listed for Not Stopping Money Laundering and Terrorism Funding. What It Means
The FATF evaluates each member country's implementation and effectiveness of measures to combat money laundering and the financing of terrorism.
02/24/2023
CBN deny plan to shutdown financial transactions
The last one that happened was information from the social media handle of which it was alleged that the old N500 and N1000 notes gatz remain legal tender till May 1, 2023.
02/23/2023
Court suspends 30pc tax on lumpsum pension pay
The High Court suspended the implementation of the law on Monday, pending the determination of the petition filed by two pension associations.
02/23/2023
Rooftop solar tax breaks – what it means for complexes and sectional titles in South Africa
To qualify, the solar panels must be purchased and installed at a private residence, and a certificate of compliance for the installation must be issued from 1 March 2023 to 29 February 2024.
02/23/2023
How Abu Dhabi Fund’s first development project in Nigeria will serve the community
The project is expected to stimulate commercial activities and improve transport links between the main cities in the country
02/22/2023
Standard Bank fires 82 staff involved in MyMo accounts debacle
The bank investigated more than 200 employees for illegitimately activating digital bank accounts in the names of clients without their consent
02/22/2023
Treasury’s long-delayed financial management system finally set for use
Department bought software licences from Oracle for R390m in 2016 and has been paying for maintenance and support despite not using them
02/22/2023
Reserve Bank planning for a national grid collapse
The FSCF has since been formally constituted under South African law and is now tasked with assisting authorities in identifying and mitigating risks that could threaten the functioning and stability of the country’s financial system.
02/22/2023
Big jump in domestic worker pay in South Africa – here’s how much you should be paying
According to the department, however, most jobs earning the minimum wage will see their wages increase to R1,144 a week (45 hours) or R4,957 a month (195 hours).
02/21/2023
Nigeria, Gambia oil firm sign pact to explore, develop crude oil
The agreement will see the two companies jointly explore and evaluate potential oil resources in Gambia
02/21/2023
World Bank clout rises as China cuts Kenya loans
The multilateral institutions have forked out billions of ‘rescue loans’ to Kenya, pushing their share of debt by more than a third to $17.9 billion
02/21/2023
Ethiopia eyes Sh19bn fee for M-Pesa entry
An investment protection fee is the amount paid by foreigners to invest in businesses exclusively reserved for domestic investors or the government.