10/14/2021
Cardano may need Africa more than Africa needs Cardano as the DeFi battle heats up
For Cardano, the competition in decentralised finance (DeFi) is heating up with more competitors joining the fray.
Regulation,Tax & Compliance
10/13/2021
With LIBOR soon ending – What options are available to South Africans when selecting an alternative reference rate
The wide spread but informal endorsement of different rates has, allowed parties to start thinking more broadly about the rates that they wish to apply in respect of their own products.
10/13/2021
FATF warns SA government to improve monitoring and prosecuting of financial crimes to avoid the
‘grey list’‘Institutions which do not do business in the financial sector are difficult to identify in terms of illegal cash flows and crime’: National Treasury deputy director-general Ismail Momoniat.
10/08/2021
The Pandora Papers and Mohammed Bello-Koko
The Pandora Papers are out. Startling revelations are seeping out. Some saints have been demystified.
10/07/2021
Generational property in The Bahamas: how to acquire documentary title
Under the laws of The Bahamas, the applicant must be in factual possession of the land for a period of 12 years or more to successfully bring a claim for adverse possession.
10/07/2021
How will the new provident fund rules affect the money saved before its implementation date?
This amount will earn investment returns and is kept as a separate record from your new money
10/07/2021
South Africa’s Central Bank Model Urges Rate Hikes
Since the start of this year, none of the five MPC members have voted for further easing and the panel has consistently indicated that the next move will be an increase.
10/07/2021
Absa breaches lending law in Sh18.8bn loan to EABL
A bank must not lend more than 25 percent of its core capital to one borrower or related borrowers in the rule known as single obligor.
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.
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.