Accounting & Auditing News

Kenya: Central Bank of Kenya Gives Lenders Time to Adopt New Accounting Rule


 | Source: The EastAfrican ; All Africa

Kenyan banks have been spared the aftershocks of new provisions for bad debts that come into effect with the New Year, ensuring riskier small borrowers and households can continue accessing credit.

Kenyan Banks May Turn to Shareholders to Comply With IFRS 9


 | Source: The EastAfrican; All Africa

Four top Kenyan banks will have to increase their loan loss provisions by Ksh36 billion ($360 million) under the new accounting regulations, which take effect in a week's time.

Uganda: IMF Wants Bank of Uganda to Strengthen Supervision


 | Source: The Monitor; All Africa

Last week, the International Monetary Fund (IMF) provided details on why it wants Bank of Uganda (BoU) to strengthen the supervision of commercial banks, in order to avoid the Crane Bank-like scenario.

Ghana: BoG to Help Banks Explore Ways to Meet New Capital Requirement


 | Source: Business Day Ghana; All Africa

The Bank of Ghana (BoG) must create a tier system that can cater for the needs of the country's banking sector. This would ensure that the gains of capitalization are fully harnessed.

Liberia's central bank faces audit


The government wants CBL to lead by example in the fight against corruption.

Mauritius: A new government-owned bank will replace Bramer Bank


The Bramer Bank had its licence withdrawn after the discovery of a scam.

Mauritius: Bramer Bank loses licence after large scam


The finance minister assured that depositors "will not lose a penny."