Regulation |

Hive Switches From Mining Gold to Bitcoin — Surges Six-Fold

LAGOS (Capital Markets in Africa) – Frank Giustra, the Canadian mining maverick who amassed a fortune building what would become one of the world’s largest gold companies, is digging for another kind of gold: cryptocurrencies. The company he’s backed, Vancouver-based Hive Blockchain Technologies Inc., is among the first publicly traded stocks to provide exposure to crypto mining — the vast data crunching needed to verify the blockchain and the volatile currencies they produce like bitcoin and…

Global Regulators Play Bitcoin Whack-a-Mole as Demand Explodes

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation. Russian President Vladimir Putin is the latest to call for regulation of cryptocurrencies, saying there are “serious risks” they can be used for money laundering or tax evasion. Finance Minister Anton Siluanov has called for regulating digital money as securities, while central bank officials vowed to work with prosecutors to block websites…

Understanding Validation and Data Security in The Context of Regulated Industries

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LAGOS (Capital Markets in Africa) – Any software used in the controlled environment of the pharmaceutical, life sciences and healthcare industry and directly related to the manufacturing process must have validation done for acceptance by the regulatory authority of FDA. The concept of validation entails that there must be documentary evidence that the system is capable of producing consistent data related to a product that meets the quality attributes and pre-determined specifications. The Salesforce software…

Mining Clash Heats Up as South Africa Seeks Rights Freeze

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s mines minister has struck back at attempts by the industry to fight his controversial new industry rules with a proposal to indefinitely freeze granting and renewing mining rights. Minister Mosebenzi Zwane said Thursday that the moratorium is necessary to ensure that no rights are approved without being subject to the new regulations, which he has agreed to suspend pending an initial court judgment. The Chamber of Mines, which represents the industry, will…

INTO AFRICA July 2017 Edition: Navigating African Legal Landscapes

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LAGOS (Capital Markets in Africa) – Welcome to the July edition of INTO AFRICA, the publication with fresh insight into Africa’s Emerging capital markets. This month we take a look at investment in Africa with a focus on laws and regulations for private and foreign investments across African countries (from Southern Africa to North Africa and East Africa to West Africa as well as Mid Africa regions) and titled: Navigating African Legal Landscapes. Economic recession in Africa,…

African banks’ regulation and supervision is improving, Says Moody’s

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LAGOS (Capital Markets in Africa) – While increased regulation and improved supervision have strengthened the financial stability of African banks, progress has not been uniform and gaps remain, especially in the areas of enforcement and cross-border coordination, Moody’s Investors Service said in a report today. The report, entitled “Banks — Africa: Gaps in Banking Regulation and Supervision Are Progressively Being Addressed”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link…

Regulation | The Fundamental Review of the Trading Book

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The very aptly named Fundamental Review of the Trading Book (FRTB) is set to go live in 2019 according to the final standards (1) published by Basel Committee on Banking Supervision (BCBS) in January this year. The paper calls for the rules to be incorporated into national legislations by January 2019 with banks expected to use FRTB for calculating reported regulatory capital by January 2020. Whilst its main objective…

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