09/26/2022
Tanzania central bank to reduce liquidity to tackle inflation
The policy decision aims at reducing inflationary pressures, while safeguarding economic activities.
Regulation,Tax & Compliance
09/23/2022
South Africa perplexed by ZAR 90bn of unclaimed assets
Most of which sits in retirement funds in part because of inadequate record keeping by intermediaries
09/23/2022
Ghana government signs agreement with banks to push YouStart implementation
Through the partnership, the PFIs would provide a loan facility of about GH¢5 billion in the next three years, ranging from GH¢100,000 and GH¢500,000 to businesses under the programme.
09/23/2022
CBN issues “no objection” to FBN Holdings’ acquisition of Access Pension
“The transaction has the “no objection” of the Central Bahk of Nigeria as well as the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission”, the statement reads.
09/23/2022
Sarb announces its repo rate hike
Three members of the MPC committee preferred the announced increase, two members preferred a 100 basis points' increase.
09/22/2022
Gov’t, Banks to push YouStart implementation
The funds would be used to meet the working capital requirement of businesses
09/21/2022
Kenya’s central bank governor admits pressure to convert country’s reserves into Bitcoin
Furthermore, Njoroge noted that the country could only opt to adopt cryptocurrencies if they solve a particular problem.
09/21/2022
Stanbic Bank partners with real estate companies to offer affordable housing
Stanbic Bank’s Home Loan solution, in partnership with Kenya Mortgage Refinance Company, has interest rates of up to 9.5%
09/20/2022
CBK Directs Unregulated Digital Lenders To Cease Operations
Under the new regulations, the lenders are barred from sharing borrowers’ information with third parties and they are also required to seek CBK approval for interest on their loans.
09/20/2022
On the Back of Macro economic Challenges, Six Banks’ Impairment Charges Soar by 55.4%
These, among others, have disrupted economic activities, and it is expected to affect most risk assets.
09/19/2022
Mozambique Memorandum With IMF Foresees VAT Reform in 2023
The document was published on Wednesday on the website of the Mozambican Ministry of Economy and Finance and accessed on Friday, 16 September by Lusa.
09/19/2022
Absa could challenge Competition Tribunal’s order to reopen Sekunjalo accounts
Bank considers taking legal action to keep accounts closed, but says it will co-operate with continuing investigations
09/15/2022
Verto announces new partnership with Africa-focused firm Xente
These organisations will be able to use simple cross-border payment mechanisms in an attempt to boost financial inclusion.
09/15/2022
PenCom approves FBN Holdings’ acquisition of Access Bank’s pension business
First Pension Custodian Limited, a subsidiary of First Bank Holdings Plc, had in May agreed with Access Bank Plc to purchase the latter’s entire share capital in its pension subsidiary, Access Pension Fund Custodian Limited.
09/14/2022
Nedbank extends N$11 billion in property loans
“We want to continue our commitment in playing a pivotal role in supporting the growth in our home loan division,” Van Graan said.
09/13/2022
S&P says greylisting impact on SA's banking sector will be 'muted'
And while it will raise transactional and compliance costs for the private sector, banks are not expected to lose their correspondent banking relationships in the event of greylisting, said the agency.
09/12/2022
AYO Technology Solutions applies for urgent interdict against Access Bank
Access’s senior counsel, Advocate Adrian Botha, claimed in his submissions that the account closures were merely a contractual agreement between the bank and the client.
09/09/2022
South Africa's banking and insurance sectors are overwhelmed by cyber attacks
A rebound in economic activity saw South African banks record net profit increases of between 95% and 224% in 2021, making it even more attractive to hackers.
09/09/2022
Ghana: Avoid Issuing Dud Cheques, Securing Loans Will Be Adversely Affected - BoG
The Central Bank also stated that bank customers are entitled to a free credit report once a year.
09/08/2022
Bank of Ghana is expected to further hike monetary policy rate before year end
Meanwhile, further tightening of monetary policy in Ghana is believed to be one of the conditions required for the country to reach a deal with the International Monetary Fund (IMF) for a $3 billion bailout.