* Kenya's Insurance Regulatory Authority said it aims to publish new regulations on Islamic insurance, or takaful, by year-end, pending approval from the Treasury, Middle East Insurance Review wrote, citing the Kenya Broadcasting Corp.
* The Kenya Bankers Association has filed a petition seeking to suspend the implementation of the so-called Robin Hood tax, which imposes a 0.05% tax on bank transfers amounting to 500,000 shillings or more, Business Daily Africa wrote. The lobby group said banks were given insufficient information for the implementation of the tax, and argued that it is unconstitutional as it did not undergo public participation.
* KCB Group PLC
* Former National Bank of Kenya Ltd.
* The Bank of Ghana adopted a new framework requiring banks to include their risk-weighted assets when calculating their capital adequacy ratios. Banks, however, have until Jan. 1, 2019, to comply with the Capital Requirement Directive, which also sets the new minimum capital requirement for banks at 400 million cedis, 3x more than the current minimum capital requirement of 120 million cedis.
* Access Bank (Ghana) PLC
* Orange SA is collaborating on a venture with Ivory Coast's NSIA Participations SA
* Old Mutual Nigeria General and Old Mutual Nigeria Life Assurance Co. Ltd. signed a bancassurance partnership with Ecobank Nigeria Ltd.
* Diamond Bank PLC
* Wema Bank PLC
* Pan-African development finance institution Africa Finance Corp. named Samaila Zubairu president and CEO, replacing Andrew Alli, whose tenure has ended after serving in the role since 2008.
* Nathaniel Patray was appointed executive governor of the Central Bank of Liberia. He succeeds Milton Weeks, who resigned from the position July 3.
* S&P Global Ratings assigned long- and short-term foreign- and local-currency sovereign credit ratings of B+/B to Benin, with a stable outlook.
* The South African Reserve Bank has asked the National Credit Regulator to look into whether Capitec Bank Holdings Ltd.
* The South African Reserve Bank confirmed that it has secured a guarantee from the National Treasury of up to 100,000 rand per VBS Mutual Bank
* Zweli Mkhize, South Africa's cooperative governance and traditional affairs minister, said the government will not bail out 13 municipalities affected by the collapse of VBS, noting their action was "unacceptable" as local councils are barred from placing ratepayer money into mutual banks, Bloomberg reported. The municipalities lost roughly 1.65 billion rand invested in the bank.
* Barclays Africa Group Ltd.'s
* Barclays International, which includes British lender Barclays PLC's investment bank, private bank and cards business, is looking to open a representative office in South Africa, insiders told the Financial Times. The bank is aware that any service will have to comply with the terms of a multiyear noncompete agreement with Barclays Africa Group.
* Commonwealth Bank of Australia reportedly placed its South Africa banking business under review as it seeks to focus on its core Australian and New Zealand banking business. The lender is reviewing its future ownership of TymeDigital and it is believed that it may sell the business to minority shareholder African Rainbow Capital.
* Grant Gelink resigned as chairman and nonexecutive director of South African insurer Santam Ltd.'s board, effective June 30. The Sanlam Ltd.
* The Reserve Bank of Malawi kept its policy rate unchanged at 16%, citing risks to the inflation outlook despite slower price increases in May.
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