Managers of Wealth Africa

Land expropriation threatens to destabilise South Africa’s banking sector

Many banking crises around the world have as their starting point the decline in land-based property and the impact that this has on market confidence.

Afreximbank, NEXIM Bank Unveil Initiative to Support Nigeria’s Exporters

The fund would assist the early development process of projects from concept stage to bankability

Nigeria Loses $18bn Yearly to Money Laundering, Others - CISLAC

A case in point, according to him was the ongoing corruption in investor state arbitration between Process and Industrial Development (P&ID) versus Federal Republic of Nigeria.

Time to Stop Illicit Financial Flows

A quick review of the global statistics on frauds and corruption shows that the damage suffered by African countries due to frauds, embezzlement, economic crimes, financial crimes and corruption is estimated at about 25% of the combined annual budgets of

CBN threatens banks, to create complaint desk

Emefiele also explained that the nation has not changed its foreign exchange management policy, as the apex bank has continued to adopt the managed-floating strategy.

CBK in row with banks over dividend payouts

This has seen a number of banks revise dividends that had received board approval downwards to ensure the payouts are a fraction of last year’s disbursements.

Key African central banks aren’t rushing to raise interest rates

More concerned about the impact of a potential third wave of coronavirus infections and a slow rollout of vaccines.

Regulator drops plan to list State loan backed SMEs

CMA chief executive Wycliffe Shamiah said instead of competing with banks, the regulator now wants a broader fund that will help small business reduce the cost of listing even as it offers loan guarantees.

Uganda: African Development Bank signs $229.5 million financing agreement for the Kampala-Jinja Expressway Project

The Kampala-Jinja Expressway Project will cut travel time and boost trade along an important artery linking Uganda with its neighbors

Ministries to meet over NCPB’s rising Sh7bn bank debt

“The CS Agriculture is organising for a meeting between the ministry, Treasury, NCPB and KCB to resolve the Sh7billion loan,” said Mr Iringo.

Herbert Smith Freehills Advises Korea’s POSCO Group on Stake in Tanzanian Graphite Miner

The firm is also advising POSCO on offtake and prepayment arrangements for the project.

Government wants to enforce new BEE rules at banks, insurers and funds

Masondo said it will also be a requirement for financial institutions, such as banks, to have transformation plans that demonstrate their compliance with existing Black Economic Empowerment legislation.

Kenya goes for costly Eurobond to pay off maturing $8.5b debts

This will mean investors willing to buy the Kenyan bond in the international will demand risk premium to cushion against country’s risk of default.

Dentons launches combination with East African Law Chambers in Tanzania

In 2020, Dentons accounted for 85% of all cross-border law firm combinations and is now the second best-known law firm in the world according to Acritas

NBK gets nod to auction TSS land over Sh3.7bn loan

High Court put a freeze to the sale in April 2017 following a petition from the late Mombasa tycoon’s so.

Treasury raises Sh48bn from bond sale in borrowing target race

The bulk of the funds raised in the bond will be going towards the new borrowing column at the exchequer, with no maturities on the bonds register this month.

Nigeria’s rising debt servicing, an economic threat – SEC

Moving towards improved sustainability may require future debt tied to revenue-generating projects.

Kenya ranked among major money laundering hotbeds across the world

Kenya ranked among major money laundering jurisdictions across the globe

SA regulator, big banks experiment with blockchain securities

BMA’s experience in the local banking technology sector through previous blockchain-based projects with Rand Merchant Bank

Nedbank to pay out VBS bank victims up to R100 000 per depositor

The money included investments from municipalities, government departments, stokvels and ordinary South African depositors.

Regulation,Tax & Compliance