05/09/2016
Zimbabwe backs down on plan to force ownership of foreign firms
Mbete said he would "play things by ear" to see if Harare follows through with its new stance on the policy.
Legal
05/09/2016
Money laundering: Fear of unknown grips banks, as EFCC shifts to banking sector
The most recent among the bank Chiefs that had been arrested by the EFCC was Herbert Wigwe, Access Bank MD, who has been held for money laundering, since the bank’s corporate head office was raided on Friday.
05/05/2016
African Bank Probe Said To Have Found Directors Failed in Duties
The final report into South Africa’s first bank collapse in 12 years found directors at African Bank Investments Ltd. failed in their duties to manage and protect the Johannesburg-based lender before its downfall almost two years ago
05/05/2016
Premium Times to release names of 100 Nigerians, companies found in #PanamaPapers
Mr. Olorunyomi said the release of the names will not end the paper’s reporting on a matter that has shocked the world and has intensified campaign for global action against notorious tax havens helping corrupt individuals to hide ill-gotten assets
05/03/2016
Zimbabwe: Nssa to Probe Investment Deals
All these initiatives have started running after NSSA has reached a retrenchment agreement with five former senior managers who were axed last year
05/03/2016
Report of the Commissioner’s investigation into African Bank Limited
The manner in which the investigation was conducted is outlined in the Commissioner’s report.
05/02/2016
Nigeria: Court Seals Research Institute, Business Premises Over Tax Matters
He said as soon as the courts pronounce a sealing order, it is executed promptly, adding that the board on its own does not seal defaulters offices or premises.
04/28/2016
Hatstone News
This newsletter brings news from our three offices in Jersey, Panama and South Africa and announces our new office.
04/27/2016
Draft regulations for the implementation of Country-by-Country reporting published in South Africa by Arnaaz Camay
The OECD’s recommendation under Action Plan 13 was that all countries should adopt a standardised approach to transfer pricing documentation which follows a three-tiered structure consisting of a master file, a local file, and country-by-country (&l
04/27/2016
The evolution of the “foreign partnership” definition in South Africa by Refilwe Mashale
In South Africa, the determination of whether a foreign entity is a company or partnership is an important one, as it subsequently determines the applicable tax treatment of the foreign entity.
04/24/2016
Keroche accuses EABL of frustrating fair competition
The beer company says the scheme came about after it launched a new plant in Naivasha in the presence of industrialization CS Adan Mohammed.
04/22/2016
SA losing billions each year to cyber-crime
A typical attack on South African assets averages 9 Giga-bytes-per-second and lasts 17 minutes.
04/22/2016
Africa: Global Firm Explores Mining, Agriculture Investments in Nigeria, Kenya, Others
As part of the expansion plan, the company has also begun the legal registration process to open a representative office in Dubai
04/14/2016
International law firm Reports on Middle East Investment into Africa
The report explores how the Middle East is becoming a hub for channelling investment into Africa, as its economies continue to develop.
04/13/2016
Internet-based nature of MMM scheme ‘makes it tricky to investigate’
Administrators of the scheme, spearheaded by convicted Russian fraudster Sergey Mavrodi, said in a Facebook post at the weekend that it would be closed down after it failed to pay out promised returns of 100% a month.
04/12/2016
President Praises CBK Move Targeting Managers of Collapsed Banks
Speaking Sunday during a fundraiser at Thika's ACK St Andrews Cathedral, Mr Kenyatta warned unscrupulous bank managers who use depositor's funds for selfish gains.
04/04/2016
Ex-TRA boss, 2 others arraigned
The purpose, according to the prosecution, was to arrange for financing in the amount of 550 million US dollars to the government of Tanzania
04/04/2016
DA wants reasons for delay in release of findings from African Bank investigation
The announcement early in March that the commencement of operations at Good Bank had been set for April 4 was lauded as "a significant milestone in the delivery of the African Bank restructuring" process.
03/28/2016
ENSafrica and its lawyers ranked among the world's best
As you may be aware, Chambers is an independent rankings agency that ranks lawyers and law firms based on their legal knowledge, experience, ability, effectiveness and client service, following extensive research that, for this year’s guide, covered
03/18/2016
Kenya: It's Time to Be Serious About Graft War
As Kenyan scams go, "Chickengate" is relatively small fry.