10/26/2022
South Africa: Land Bank, Dalrrd Relaunch Blended Finance Scheme
It was developed to improve access to and the affordability of finance for farmers.
Regulation,Tax & Compliance
10/25/2022
Islamic Development Bank Approves $1.8bn Financing for Nigeria
The IsDB active portfolio in Nigeria is standing now at $1.2 billion and we have completed about 55 per cent of all of those projects, we look forward to strengthening our bilateral relations.
10/25/2022
Nigeria’s biggest banks generate N57bn from account maintenance fees in H1
Nigeria’s biggest banks electronic banking income surged to N136.4 billion in the first half of 2022, up 17.6 percent from N115.9 billion in the first half of 2021.
10/25/2022
Union Bank gets notification for mandatory takeover by Titan Trust Bank
The shares are valued at 50 (fifty) Kobo each and represents 6.59% of the shareholding of Union Bank of Nigeria Plc.
10/24/2022
FSCA declares crypto-assets as financial products under FAIS
FAIS governs the rendering of financial services (advice and/or intermediary services), as those terms are defined in FAIS, in respect of financial products in South Africa.
10/24/2022
Ramaphosa sets up South African anti-graft agency
People are tired of corruption and want it to end, president tells nation in response to ‘state capture’ inquiry
10/24/2022
This type of fraud has spiked in South Africa – and people are losing thousands of rands
Despite the uptick in this type of fraud, the data shows that digital channels remain the safest option when dealing with money in South Africa, with physical robberies at ATMs getting worse
10/21/2022
CBN, NIBSS, Bankers Committee Launch National Domestic Card Scheme
These were disclosed during a virtual press briefing at the end of a Bankers’ Committee meeting.
10/20/2022
South Africa: Finally, Ex Steinhoff CEO Markus Jooste's Assets Seized In Reserve Bank Raid
The South African government convened several inquiries into Steinhoff.
10/19/2022
African Development Bank head urges multilateral development banks to drive healthcare financing
The African Development Bank recently established a healthcare defense system built on three pillars: revamping Africa’s pharmaceutical industry, building the continent’s vaccine manufacturing capacity, and building its quality healthcare infr
10/19/2022
Reserve Bank seizes former Steinhoff CEO Markus Jooste’s assets – this is what they took
According to Bloomberg, the latest move by SARB represents a potential advance in the painstaking process of bringing charges against the former CEO, who numerous legal authorities and regulatory probes and lawsuits have pointed to as the mastermind behin
10/18/2022
High Court freezes Equity acquisition of Spire Bank
Spire Bank’s employees through the Bank Insurance and Finance Union (BIGU) sued to block the acquisition, arguing their employer had kept them in the dark over the acquisition.
10/18/2022
1.6m Kenyans acquire new passports weeks to D-day
The Kenyan Government has shifted the deadline for the migration to the new travel document several times, causing confusion.
10/18/2022
Dis-Chem threatened with court action over racist hiring policy
The retailer has confirmed it will no longer employ white people
10/18/2022
Ramaphosa, ministers conclude agreements worth R270bn in Saudi Arabia
The president also invited Saudi Arabian businesses to the South Africa’s fifth investment conference in 2023.
10/17/2022
Regulators move against digitalisation risks
The policy toolkit measures related level rules for online marketing and distributio, level rules for online onboarding; responsibility for online marketing; capacity for surveillance and supervision of online marketing and distribution; and staff qualifi
10/17/2022
Banks raise cost of loans on CBK jumbo rate hike
Regulatory notices show NCBA raised its base interest rates by 1.1 percentage points from November 11 while Stanbic and Standard Chartered increased theirs by 0.75 percentage points.
10/14/2022
CBN Begins Sensitisation of MSMEs on New Borrowing Schemes
All you need to do is to walk to the financial institution, they will value what you are presenting and give you the loan.
10/14/2022
African Development Bank approves $75 million Risk Participation Agreement facility for FirstRand Bank Limited
It is estimated that when fully utilized, this RPA facility, will support approximately $500-600 million of trade over the next 3 years
10/13/2022
Court freezes three oil and gas firms’ accounts over non-disclosure of lifted crude oil
The court order directed the banks to file an affidavit of compliance within 14 days of receipt of the order.