News

Nigeria’s central bank says it will sanction any bank that restricts customers from withdrawing up to the ₦20,000 ATM limit.

Nigeria’s has passed a $36.5 billion budget for the 2025 fiscal year, significantly surpassing the President’s proposed spending.

Despite a steady rise in inflationary pressures since September 2024, Rwanda’s central bank has held its key lending rate at 6.5% for the second time in a row.

Nigeria’s stock market gained ₦322 billion in a day, but weak tax enforcement raises questions about capital gains tax collection.

South Sudan’s National Instant Payment System (NIPS) could boost tax collection by making digital transactions more traceable and efficient.

Namibia reduces its key interest rate for the fourth time in a row as inflammatory pressures continues to ease.

The private placement is for up to 20 billion ordinary shares at 0.50k each. The Board will determine the number of investors, price, time, terms and conditions of this placement

The new ownership of the bank follows a ruling from the Special Offences Court, Lagos that the Sigma Golf Nigeria Limited shares be transferred to the FGN

Zambia’s central bank has raised its key interest rate by 50 percentage points to 14.5%, marking the highest level since 2016 when lending rate stood at 15.5%.

The 2025/26 budget is to boost the country’s economy. Improved agricultural sector alongside taxation are highlights of the budget

The appointment of Atingi-Ego as Governor, Bank of Uganda and Nuwagaba as his Deputy comes after a 3-year vacancy in both positions.

With rising cash scarcity, the new charges have been put in place to accelerate the deployment of ATMs.

The cap on credit to the private sector shrunk the total amount of loans commercial banks could give to businesses. That might be changing soon.

As the country’s central bank reduces official interest rates to 10.75%, commercial banks are to reduce their interest rates or face sanctions

The US trade policies and tariffs on other countries such as China, may result in global inflation and may affect Uganda’s inflation rate.

Nigeria’s tax agency, FIRS, has started enforcing withholding tax, which will make companies tax enforcers for themselves and the partners they work with.

The COMESA, a regional trade bloc covering 21 African countries, has launched an investigation on Airtel, MTN, over misleading IMT charges

The extension is granted to meet retail market demand for FX for eligible invisible transactions.

Nigerian firms report ₦1.66 trillion in profits for 2024, raising questions about tax revenue and compliance.

Where the insurance company does not have an in-house actuary, it is to employ the services of an external actuarial firm to carry out its ALM responsibilities for a period of not more than 2 years.