09/02/2021
South Africa to test ‘digital currencies’ with Australia and other countries
Globally, central banks are trying to come to terms with emerging payment technologies pioneered by tech firms including China’s Ant Group Co.
Regulation,Tax & Compliance
09/01/2021
Mauritius: Amendments to Immigration Laws to Promote Investment and Increase Access to Non-Citizens
A non-citizen may, through the Economic Development Board, now apply for a family occupation permit
09/01/2021
Nigeria selects Bitt as CBDC pilot partner
Bitt won the bidding to become technical partner in part thanks to its work on the development and launch of the Eastern Caribbean Central Bank CBDC's pilot earlier this year.
09/01/2021
Deutsche Bank Cuts Ties to Zimbabwean Unit of Standard Bank
Cut-off adds to long list of international banks pulling out Parent company provides U.S. dollar clearing for Stanbic Bank
09/01/2021
CBN directs banks to publish names of FOREX defaulters
Haruna B. Mustafa Director Banking Supervision Department of the CBN, who signed the circular, noted: “this trend, if not curbed, portends risk to the integrity and stability of the forex market”.
09/01/2021
National Treasury set to limit assessed tax losses: agricultural and mining sectors among those industries to bear the brunt
The current proposal is to limit the assessed loss to 80% of the “taxable income” derived in any one year of assessment.
09/01/2021
Lindiwe Zulu withdraws green paper on controversial state pension plan
The Green Paper was gazetted without approval from Cabinet, and Treasury told Fin24 that it wasn’t official government policy.
08/31/2021
Digital Currency Gains Traction as CBN Appoints Technical Partner
IMF urges caution on adoption of cryptocurrency as national currency Ndubuisi Francis and James Emejo in Abuja
08/31/2021
South Africa’s controversial social security and retirement proposals – 4 changes you may have missed
PwC outlined some of the key changes planned for workers that have not gained as much attention as the income grant and social security fund.
08/31/2021
Nigeria’s central bank issues draft guidelines on e-naira CBDC project
The CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC.
08/31/2021
South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’ – Emerging Markets Bitcoin News
Predictably, Kganyago, just like many of his peers, praises blockchain technology saying it “can be useful in many other respects.” The governor also reiterates that SARB, just like central banks around the world, is experimenting with blockch
08/30/2021
Gov't unveils Revenue Assurance and Compliance Initiative to bolster tax collection
The effectiveness of RACE, the Vice-President explained, depended on the ability to leverage on technology and to integrate the rich databases from the Ghana-Card, the Tax Identification number, Digital Address System, Passport Office, Driver and Vehicle
08/30/2021
Insurance Regulator Urges Operators to Strategise for Effective Management of N14tn Annuity Premium
He said even before now, the above statement was misconception of what insurance does pointing out that most of the assets used today in Abuja was insurance fund.
08/27/2021
Kenya’s KCB bank acquires Rwandese bank
KCB has subsidiaries in Tanzania, South Sudan, Uganda, Rwanda, Burundi as well as a representative office in Ethiopia.
08/27/2021
Banks warn customers against violation of CBN forex directives
In line with CBN directives, only Nigerians aged 18 and up with valid Bank Verification Number would be able to purchase foreign exchange directly.
08/26/2021
CBN threatens prosecution of forex policy defaulters
The banks added that customers could only apply for PTA and BTA once every quarter, and were liable to $4,000 and $5,000 per quarter per applicant respectively
08/25/2021
Employers cannot “buy their way out” of retrenchment procedures
The one purpose of the LRA is to give effect to employees’ constitutional right to fair labour practices.
08/25/2021
High Court dismisses application to set aside B-BBEE Commission’s findings: lessons for stakeholders
CRRC was established for CSR to fulfil various contractual obligations to design, manufacture, test and supply locomotives to Transnet.
08/25/2021
Afarak Group, Absa Bank Settle Dispute
Afarak said at the time that Afarak Mogale had entered into business rescue process during the summer and hadn't been allowed to pay its debts during these proceedings.
08/25/2021
Treasury to overhaul pension fund system
But it says it doesn’t support the DA’s private member’s bill proposing pension funds be leveraged as surety for a home loan.