10/06/2021
Deputy Judge President’s warnings regarding urgent applications
The DJP reminded practitioners that the ultimate test as to whether a matter is urgent, is whether irreparable harm is apparent if an order is not granted in that week.
Regulation,Tax & Compliance
10/06/2021
Reserve Bank model shows rate hikes coming for South Africa
The stronger-than-expected economic recovery in the first half of 2021, when output rose 7.5% from a year earlier, suggests inflation pressures may be stronger than initial predictions. Price increases are already around 4.5% where the central bank prefer
10/06/2021
What proposed pension changes will actually mean for South Africa
According to the Green Paper itself, ‘about 1 million older persons are excluded in the existing state benefits’.
10/06/2021
Strengthen anti-money laundering regimes — Ken Ofori-Atta
Following strict adherence to an action plan the FATF drew for the country, with timelines from 2019 to 2021 to address those deficiencies, the country was eventually taken off the list.
10/06/2021
The Statement of Practice issued on 25 August 2021 clarifies the tax treatment of trusts and foundations established in Mauritius
Any trust or foundation may claim partial exemption on such categories of income specified in the ITA subject to satisfying the conditions prescribed relating to substance of their activities.
10/05/2021
African lawmakers must create pathways for innovative climate action financing – forum
Among the key speakers at the forum was Dr. Olufunso Somorin, the Principal Climate Change and Green Growth Officer at the African Development Bank, East Africa region.
10/04/2021
Ramaphosa Announces Vaccine Passports for SA + All The Details
“This will also go a long way towards getting a number of international travel restrictions both from and into our country,”
10/01/2021
Highlights on the Mauritius Financial Services (Crowdfunding) Rules 2021
In this highlight, we provide a brief summary of the crowdfunding rules, emphasizing the key points set out therein.
09/29/2021
Nigeria to become first country in Africa to launch CBDC
Some praise eNaira’s benefits for financial inclusion, while others are concerned it would give central banks more control over citizens’ financial rights through the removal of intermediaries.
09/29/2021
Zimbabwe central bank to freeze bank accounts over illegal forex deals
Governor John Mangudya published a list of names he said were using social media platforms and mobile telecoms services to facilitate illegal forex trade and money laundering.
09/28/2021
South Africa can’t afford universal grant says business body
Finance Minister Enoch Godongwana has said he doesn’t favor the idea.
09/26/2021
UBA Publishes Names Of Forex Policy Defaulters
The bank in a publication on its official website titled, ‘CBN FX defaulters’, noted that the customers had been contacted severally through emails, phone calls and messages but they still failed to return the funds.
09/24/2021
The Financial Services Commission of Mauritius issues the Financial Services (Crowdfunding) Rules 2021
In effect, the Crowdfunding Rules legitimate the operation of a crowdfunding platform in Mauritius and provide for its modus operandi.
09/24/2021
BCP Bank (Mauritius) obtains a € 25 million line of credit from ‘Agence Française de Développement’ and DEG
This financing shows the confidence that financial institutions have in us and I would like to thank Proparco and DEG, who are long-standing partners.
09/24/2021
Key proposals affecting international tax and financial institutions in draft bills
The insurance industry previously has requested confirmation of this point and the proposed clarification is welcome.
09/23/2021
Will Sars high net worth unit close South Africa’s tax gap?
‘There is a particularly vexed situation’ in the country
09/23/2021
Standard Bank’s Shari’ah Personal Call Account makes personal saving easy and compliant
The Shari’ah Personal Call Account is ideal for casual saving and cash flow management.
09/22/2021
Uganda inches closer to enforceable netting
The draft regulations were developed following a technical assistance memorandum of understanding signed between BOU and Frontclear.
09/22/2021
The regulation of open banking in South Africa
South Africa currently does not have an equivalent to PSD2.
09/21/2021
Keeping the recovery on track
The recovery remains uneven with countries emerging from the crisis facing different challenges.