09/09/2022
South Africa's banking and insurance sectors are overwhelmed by cyber attacks
A rebound in economic activity saw South African banks record net profit increases of between 95% and 224% in 2021, making it even more attractive to hackers.
Regulation,Tax & Compliance
09/09/2022
Ghana: Avoid Issuing Dud Cheques, Securing Loans Will Be Adversely Affected - BoG
The Central Bank also stated that bank customers are entitled to a free credit report once a year.
09/08/2022
Bank of Ghana is expected to further hike monetary policy rate before year end
Meanwhile, further tightening of monetary policy in Ghana is believed to be one of the conditions required for the country to reach a deal with the International Monetary Fund (IMF) for a $3 billion bailout.
09/08/2022
SA lawmakers up in arms at unilateral, arbitrary closing of bank accounts
This comes as the standing committee on finance yesterday received briefings from Gardee Godrich Attorneys, the National Treasury and the Financial Sector Conduct Authority on the banking sector’s conduct.
09/08/2022
Banks harshly criticized for not reporting matters to the FIC
The law firm had written to the committee to raise the problem of discrimination allegedly perpetrated by the banks against people whose banking accounts were closed.
09/07/2022
African Development Bank’s Enhanced Private Sector Assistance to Central African Region
Credit lines for regional development financial institutions went to the West African Development Bank, Africa Trade Insurance Agency, Africa Finance Corporation, East African Development Bank, and several commercial banks.
09/07/2022
Kenyan shilling stable, expected to ease due to increased importer demand
At 0738 GMT, commercial banks quoted the shilling at 120.15/35 per dollar
09/06/2022
African Development Bank and Portugal sign EUR 400 million guarantee agreement to underpin Lusophone Compact
The program is designed for new, non-sovereign operations in these Lusophone countries and will enable the Bank to optimize allocation of its risk capital to these countries.
09/05/2022
Central Bank of Nigeria partners with Arabatech, PNAIL to promote eNaira platform
Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment (NIP) is now available on the eNaira platform.
09/05/2022
How South Africa’s major insurance raid went down
The insurers are alleged to have fixed prices and trading conditions in the setting of fees for investment products such as retirement annuity and premiums for risk-related products.
09/02/2022
IMF approves $1.3bn loan for Zambia
The lending plan will be vital to keeping the country's economy afloat and positioning Zambia as a model for resolving Africa’s debt crises.
09/02/2022
Treasury extends job freeze into the new administration
In principle, public sector wage bill is not supposed to consume more than 35 percent of national government revenues.
09/02/2022
Standard Bank ordered to freeze accounts of suspected Ponzi scheme
Lyoness South Africa is a multi-level marketing scheme that is thought to have roped in 190 000 South Africans.
09/01/2022
Capital markets regulator approves a Sh5 unit trust
The product is set to disrupt the CIS market where companies take a minimum of Sh1,000 from investors.
08/30/2022
$750m Afrexim Bank loan hits Bank of Ghana’s accounts
The proceeds from the loan, according to the government will help shore up its reserves, which stood at $7.68 billion, as of June 2022, a move that could help slow down the rate of depreciation of the local currency against the dollar.
08/30/2022
Updated: Access Holdings gets approval to take over First Guarantee Pension
"This transaction is in line with our vision to create a globally connected community and ecosystem; inspired by Africa for the world,” CEO Herbert Wigwe said in a document seen by PREMIUM TIMES.
08/30/2022
Access bank cuts operating hours after spending over N77bn on energy, others
According to the bank, while some of its branches will continue to operate between 8am and 4pm, its electronic channels would be open to customers 24hours everyday.
08/30/2022
Kenya's central bank to raise $41mln from bond market
The securities are on sale until September 13, when the period of the auction closes
08/29/2022
Ethiopia’s import bill surpasses $18 billion
The analysis shows that for the 20th year in a row, China continues to be the leading origin for Ethiopia’s imports, providing $3.3 billion or 18% of total imports.
08/26/2022
Experts urge CBN to leverage technology to strengthen naira
The News Agency of Nigeria reports that the hybrid meeting had, “Leveraging on Technology to Gain a Competitive Edge” as its theme.