08/15/2023
Naira slump: CBN clamps down on speculators, restricts diaspora remittances
According to Shonubi, the volatility of the naira in the parallel market is not solely driven by economic factors, but also speculative demand.
Regulation,Tax & Compliance
08/14/2023
Retirement Benefits Authority orders trustees to revise Kenyatta National Hospital pension dues
The tribunal issued a judgment on April 22, 2021, but the former employees went back to the RBA accusing the trustees of using a wrong formula against the tribunal’s decision.
08/14/2023
CBK to prop up banks hit by liquidity shortfalls
This implies that the apex bank will have a firmer grip on banking sector interest rates.
08/14/2023
New emigration tax rules could backfire for SARS: expert
“While the regulations may be well-intentioned and designed to help prevent South Africa from falling further afoul of traditional regulators, there’s also a good chance they could backfire,” Scherzer said.
08/14/2023
The Central Bank of Egypt, Ghanaian counterpart mull cybersecurity cooperation
This is in addition to ensuring the governance of the procedures and management systems followed when handling cybercrimes
08/14/2023
Bankruptcy action by Access Bank: Seplat served interim court order
There are no claims against the company in the bankruptcy proceedings and the orders have no impact on the operations of Seplat Energy.
08/14/2023
Stanbic Bank Kenya sets 19 percent interest rate on riskiest borrowers
Stanbic becomes the latest after Equity Bank Kenya to disclose the structure of its risk-based pricing mechanism.
08/10/2023
Equity Bank now digs in for TransCentury receivership
The application was supported by Paul Ogunde for the receiver managers, saying TransCentury was trying to create an impression that they wanted to impair or disrupt the businesses.
08/10/2023
Volatile climate stunts pension investment into Infrastructure Fund
Earlier in May, PFAs invested just N123.4 billion or 1.2 per cent of the N16.1 trillion total pension assets into Infrastructure Fund.
08/09/2023
South African regulator wants Vodacom Group’s $696mln fiber deal blocked
Vodacom says it will appeal the decision
08/09/2023
Billionaire Narendra Raval joins case to root for Finance Act
Mr Raval’s group of companies is involved in the manufacture of various goods, specialising largely in the steel and cement industry.
08/09/2023
Trouble ahead for remote workers earning dollars and pounds in South Africa
South Africa has become something of a hot spot for remote work.
08/08/2023
‘Standard Bank’s closure of Independent Media’s accounts is an attack on all South Africans’
Banks are perfectly entitled to serve whichever customers they choose.
08/08/2023
“Don’t Write-Off”: CBN Sets Sanctions for Top Directors Taking Loans as 4 Banks Approve Over N112bn
The banks include Union Bank of Nigeria, Stanbic IBTC Holdings, Sterling Bank, and Access Holdings.
08/08/2023
Nod to more muscle for CBK to regulate liquidity
The CBK’s proposal entails stopping the transfer of net profits to the general reserve until the new reserves reach a maximum amount of 5 billion dinars, which is four times higher than the previous ceiling of 1 billion dinars.
08/07/2023
New finance laws look to stop government corruption in South Africa
This aims to stop the corruption that is fraught in the current decentralised procurement system.
08/07/2023
Access Bank, Zenith Bank, Stanbic IBTC, 11 Others Increase Interest Rates on Savings Deposits
About 11 commercial banks have announced different interest rate increases on Savings
08/04/2023
African Development Bank organises training to bolster public capacity for debt management
About 110 participants from 45 African countries attended the training.
08/03/2023
West African central bank freezes Niger’s accounts
On the same day, the Economic Community of West African States (Ecowas), a larger regional grouping, also imposed sanctions on
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.