GCC banks remain resilient despite tough liquidity challenges, says KPMG
Gulf Cooperation Council (GCC) banks achieved a 6.5 per cent growth in assets in 2016, driven by increased lending to government and related entities. The KPMG report said banks in the region have been resilient despite margin pressures, increased impairment charges and higher funding costs. Even though considerable challenges are expected to prevail in the coming months, the overall long-term outlook for the GCC banking sector remains relatively positive.
Read more – Times of Oman
Saudi Arabia ranks highest in perception of E-government services improvement: BCG Survey
Saudi Arabia ranks top on the highest net perception of service improvement over the past two years globally and ranks third in terms of the highest level of frequency in e-government usage, with 32.6% more Saudi citizens using these services more often weekly use of online government services has increased by 30% since 2014. The most accessed and satisfactory e-government services include job search, ID card application and information access; conversely, the least accessed are related to housing, obtaining government benefits and subsidies.
Read more – Saudi Gazette
PwC Namibia Tax Academy turns 10
PwC Namibia recently celebrated the 10th anniversary of the PwC tax academy programme. Launched in 2007, the PwC tax academy is an internship programme to train tax professionals. This academy is the first of its kind in Namibia, and reaffirms our commitment to Vision 2030, and the development of local tax professionals. The firm currently has seven candidates enrolled. Since 2007, 18 candidates have completed their training. Tax academy participants to date include 95% previously disadvantaged Namibians.
Read more - The Namibian
South Africa's Alexander Forbes appoints ex-KPMG chief as chairman
South African financial services firm Alexander Forbes Group said its chairman Sello Moloko will retire in August and appointed Moses Kgosana, a non-executive director of the company and a former CEO of KPMG South Africa, as his successor. Moloko will step down at the end of August after holding the position for nearly 10 years, during which he saw the company through the 2008/09 global financial crisis and its re-listing on the Johannesburg Stock Exchange in 2014.
Read more – Reuters
Bahrain: KPMG acquires fintech platform
KPMG International has announced the acquisition of Matchi, a global fintech innovation and matchmaking platform that connects financial institutions, including banks and insurance companies, with fintech companies worldwide. The Matchi platform includes more than 700 curated fintech solutions and a database of more than 2,500 fintech companies that financial institutions can work with to apply innovative fintech capabilities to solving their business problems and pursuing new market opportunities.
Read more – News of Bahrain
Nigeria: Ikeja Eletric, Deloitte launch whistle blowing platform for electricity theft amongst others
In Nigeria, Power Distribution Company, Ikeja Electric Plc has launched with Deloitte a whistle blowing platform to allow customers report theft and other illegal activities across its network. Through this platform, clients can confidently report issues such as fraud, bribery, energy theft through illegal connections, amongst others. This will be done anonymously using multiple channels including email, a toll free hotline, amongst others. This platform is one of the many measures put in place to promote transparency and accountability, according to the company’s Head of Corporate Communications, Felix Ofulue.
Read more – Ecofin Agency