Tag Archives: assets

South African Government Establishes Crypto Assets Regulatory Working Group

A crypto assets regulatory working group dedicated to crypto and blockchain has been established by the South African (SA) government. English-language local news outlet BusinessLive reported on the development on Jan. 2.

Tito Mboweni — the South African finance minister — declared:

“It is anticipated that, following broad industry comment and participation, the crypto assets regulatory working group will be ready to release a final research paper on the subject during the course of 2019.”

The finance minister further noted that the SA Revenue Service is working to include cryptocurrencies in the tax forms for the next year. The taxation laws amendment bill of 2018 included amendments that, Mboweni explained, would ensure that losses may only be offset against profits from crypto.

Also, he…

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Chinese government denies it has a plan to seize African assets through debt repayments

Africa does not need to be afraid of us, says China: Foreign ministry official says there’s NO plan to seize key assets as she denies claims of plot to take control of Kenyan port that has defaulted on a loan

  • Chinese government denied country has agenda to seize assets using huge debt
  • Allegations communist country loaned African countries billions to saddle them 
  • China said to be trying to seize control of Mombasa port after loan default
  • Hua Chunying said fears port risked being taken over by China were not true

Chris Dyer For Mailonline

China has denied its government has an agenda to seize African assets by giving out huge loans they know will be defaulted.

The communist country has been…

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Sub-Saharan Africa risks losing strategic assets to China

Global credit rating firm Moody’s has issued a warning to sub-Saharan Africa concerning the risk of losing strategic state assets to China.

China’s financial influence on Africa cannot be understated. In the last 18 years, China has pumped more than $124 billion into the continent. These funds, which arrive on African soil in the form of loan agreements, capital or large-scale infrastructure projects, have the propensity to enhance the growth of developing economies.

Naturally, embattled African nations see China as a strong economic and political ally. As such, bilateral relations between China and African countries have strengthened significantly over the last decade.

Yet, concerns regarding undue political influence and resource management have…

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ECCB reports decrease in total assets and deposits

BASSETERRE, St Kitts — The Monetary Council of the Eastern Caribbean Central Bank (ECCB) has reported a slight deterioration in monetary and credit conditions as at June 30, 2018, with decreases in deposits and assets.

“Monetary and Credit conditions in the ECCU banking system showed a slight deterioration as at the end of June 2018 when compared with the same period in the previous year, but remained favourable,” the ECCU said in its communiqué following the 92nd Meeting of the Monetary Council of the ECCB on November 16.

The Eastern Caribbean Currency Union (ECCU) commenting on the financial stability in the financial space informed that, as at 30 June 2018, the ECCU commercial banking sector was assessed as stable when compared to the previous quarter’s…

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South African assets rally on risk appetite, but there are plenty of worries for their future

South Africa’s rand outperformed other emerging market currencies against the U.S. dollar on Wednesday thanks to improving risk appetite, but there are plenty reasons to be cautious.

The rand

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Buckeye sells assets as Caribbean struggles: Update

Buckeye Partners will sell some US pipelines and terminals and its interest in the Vitol-backed marine terminal businesses VTTI as its Caribbean …
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