02/21/2023
KCB sets up special team to recover bad loans
“Relationship teams are designed to grow business, they are not necessarily competent in matters regarding recoveries, restructuring and nursing struggling borrowers,” Mr Russo said.
Regulation,Tax & Compliance
02/20/2023
Saint Kitts and Nevis First CARICOM Nation to Sign Agreement with AFreximbank
The Caribbean Community (CARICOM) represents one of the largest African Diaspora regions.
02/17/2023
Rising revenue collection but still inadequate
Although the figure represents the highest level of revenue receipts in recent times, it falls short of the pro-rata budget benchmark of NGN4.7trn.
02/17/2023
Politician to seize NBK’s Sh2.5bn in Central Bank
Attempts by NBK to appeal the decision at the Supreme Court were dismissed in December.
02/16/2023
South Africa is falling apart
South Africa is currently in the grip of its worst-ever power cuts, while coal exports fell to a 30-year low in 2022 because of the poor performance of the national freight rail company.
02/16/2023
I&M waives bank to mobile fees permanently
The CBK had temporarily stopped the charges from mid-March 2020 in a bid to lower the risk of Covid-19 infections by encouraging cashless transactions but reinstated the charges in January.
02/15/2023
IMF Resident Advisor assigned to BoG to provide technical assistance
The Bank of Ghana notes that the Advisor will support the implementation of Pillar 2 and 3 of the Basel II/ III capital frameworks
02/14/2023
ZAR X exchange licence cancelled
In line with the sector’s regulations, ZAR X is now required to immediately inform all affected persons and all affected stakeholders of the immediate cancellation of its licence and cease all business of an exchange.
02/14/2023
Another state of disaster declared in South Africa
The floods have damaged homes, businesses, basic infrastructure, roads, and bridges and affected crops and livestock.
02/14/2023
World Bank urges Ghana to boost human capital to accelerate growth
The World Bank has had a productive engagement in the Ghanaian education sector over the past three decades.
02/13/2023
Ruto fixes CBK legal hitch with deputy governor appointment
The law enacted in 2015 demands that the executive team at the CBK be composed of the governor and two deputies.
02/10/2023
KRA set to tax hedging profits under new rules
Players in Kenya’s rapidly growing foreign exchange trading market are now also within KRA’s net.
02/09/2023
Flutterwave Expands into North Africa After Bagging PSP Licence in Egypt
“This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”
02/09/2023
Employers to take the biggest hit as NSSF implements Act
Though employees will see their deductions go up, they stand to be the ultimate beneficiaries of better retirement perks at maturity.
02/09/2023
Naira gains 0.07% at investors, exporters window
A total of 55.52 million dollars was traded at the official Investors and Exporters window on Thursday.
02/09/2023
More banks shut down as new notes scarcity persists
This came amid a Supreme Court injunction asking the Central Bank of Nigeria not to implement the February 10 deadline.
02/07/2023
Nigeria’s central bank to address issue of ‘exorbitant’ PoS fees shortly
PoS operators are now charging 10% withdrawal charges due to scarcity of new naira notes
02/07/2023
Treasury takes biggest overdraft
The official report shows that the outstanding overdraft at the Central Bank of Kenya (CBK) rose to Sh64.51 billion by end of Friday last week
02/07/2023
New court ruling keeps SARS in check
In this case, the taxpayer in question is a shareholder in several companies that loan money to one another, and a central issue in the tax dispute was the loan account in one of the taxpayer’s companies.
02/06/2023
Warning over national state of disaster in South Africa
“Under a state of disaster, the executive can issue regulations that limit rights, but only if, in doing so, they achieve the objectives of the state of disaster.”