Hi there,

Been a while you heard from us right? We miss you just as much as you have missed us. But as we promised, we will always keep in touch every Thursday just to catch up with you. We hope you’ve had an amazing week as we want to use this opportunity to say well done as the week is almost coming to an end.

Furthermore, we have our regulatory compliance updates from Nigeria, Tanzania, Kenya and Ethiopia. We hope you find the information useful. Additionally we are featuring a founder who is disrupting the financial sector in Africa.

OPPORTUNITIES BEYOND BORDERS

The Central Bank of Nigeria releases the guidelines for the registration and operation of Bank Neutral Cash Hubs.

The Central Bank of Nigeria (CBN), in furtherance of its mandate to promote a sound financial system in Nigeria, in collaboration with Banker’s Committee initiated the Nigerian Cash Management System (NCMS) which seeks to reduce cost and improve operational efficiency in the country’s cash management value chain.

This initiative…..

The Monetary Policy Committee in Tanzania released a statement on the economic growth of the country and its impact on the private sector.

The Monetary Policy Committee (MPC) met on 6th June 2022 to assess the conduct of monetary policy in March and April 2022, recent global and domestic economic situation. The Committee was satisfied with the implementation of monetary policy and the outcome thereof. Liquidity in banks remained…….

Capital Market Authority in Kenya announces the Whistle Blower Regulations 2022 to protect investors in the capital market.

The Capital Markets Authority (CMA) has announced the gazettement of the Capital Markets (Whistleblower) Regulations, 2022 anchored in Section 18(2A) and 18(2B) of the Capital Markets Act which empower the CMA to reward whistleblowers. The new Regulations….

The National Bank of Ethiopia warns against digital currency.

The National Bank of Ethiopia which was established in 1963 by proclamation 206 of 1963 and began operation in January 1964 recently has warned against usage of digital currencies – adding that the country’s currency is the Ethiopian Birr, and thus it is the currency to be used for transaction. The bank…..

The bank of Tanzania issues a new Foreign Exchange Regulations 2022 which allows residents to invest in treasury bills and bond..

The Bank of Tanzania wishes to notify the general public that new Foreign Exchange Regulations, 2022 have been issued under the Foreign Exchange Act, Cap. 271, through Government Notice No. 294 of 2022, published in the Government Gazette on 13th May 2022.

The Regulations, among others, permit residents of the East African Community and Southern African Development Community…..