06/29/2023
Businesses and households that don’t have to pay minimum wage in South Africa
The wage does not include the payment of allowances such as transport, tools, food or accommodation
Regulation,Tax & Compliance
06/29/2023
Treasury sets cash, hiring limits in spending shocker
Treasury Cabinet Secretary Njuguna Ndung’u said the fixed monthly cash disbursements to MDAs will be tied to available funds with priority given to four categories of expenditure.
06/29/2023
Namibia moves to strengthen financial sector and protect customers
Under the new bill, the minister of finance will be granted the authority to oversee and regulate banking fees, ensuring fair practices and protecting customers from overcharging.
06/28/2023
CBN reviews limits on contactless transactions
The first circular contains guidelines for banks, other financial institutions, and payments service providers on contactless payments.
06/28/2023
EBRD and Bank of Africa support MSMEs and trade in Morocco
BOA is the third-largest bank in Morocco.
06/28/2023
FG, banks plan special ID cards for senior citizens
Omokaro called for public-private partnerships in the production of the ID cards.
06/27/2023
SARS warns of new scam targeting taxpayers – this is what it looks like
SARS frequently reports on and updates its comprehensive list of over 300 scams trying to exploit the tax authority’s name.
06/26/2023
Naira devaluation pushes up vehicles duties by 40%
Stakeholders said the policy would lead to job losses in the maritime sector and a drastic fall in the number of imported vehicles.
06/23/2023
South Africa’s economy not in crisis: Reserve Bank
The central bank’s monetary policy committee has raised the benchmark rate at its 10 past meetings with the aim of bringing inflation back to the 4.5% midpoint of its target range
06/23/2023
Mixed bag for taxpayers in 51 Finance Bill changes
Duty on imported fish falls to 10 percent from the proposed 20 percent.
06/22/2023
Kenya sees shilling falling to 150 mark against dollar next June
A new report by the Treasury projects the country will pay a total Sh301,513,774,986 for $2 billion international sovereign bond.
06/21/2023
Keep away from QZ Asset Management – BoN
It is reported that QZ Asset Management’s primary goal is to build innovative portfolios that provide superior, long-term investment returns
06/21/2023
Reserve Bank is making changes for its interest rate decision next month
The accuracy of gross domestic product growth forecasts was relatively unchanged, according to the paper.
06/20/2023
Shilling breaches 140 to dollar as new CBK boss Kamau Thugge takes charge
The market will now be watching the new tricks that Dr Thugge, who served as the International Monetary Fund (IMF) Mission Chief to Botswana and Lesotho in the wake of the global financial crisis, will pull from his bag to stem the slide.
06/20/2023
The big problems South Africa just can’t seem to shake
On South Africa, the IIF notes, “the near-term direction of nonresident capital flows
06/20/2023
SEC reiterates commitment to market digitalisation: Nigeria
The assurance was given by Director General of the SEC, Mr. Lamido Yuguda during an interaction session
06/19/2023
Government is cracking down on trusts and businesses in South Africa: report
This critical step towards South Africa’s removal from the FATF greylist was among the eight areas of strategic deficiencies identified by the FATF that required South Africa to address.
06/19/2023
Financial sector fraud declines to GHS56m in 2022
The report indicated that the fraud cases involving staff decreased to 188 in 2022, as compared to 278 in 2021.
06/19/2023
CBN removes saving, withdrawal limits on domiciliary accounts
The statement was titled ‘CBN issues further guidance on operational changes to foreign exchange market’.
06/16/2023
Market sentiment rises on CBN forex guidelines rollout
So, President Bola Tinubu’s announcement of plans to unify the country’s forex rates during his inaugural speech sent the financial market into a frenzy.