Managers of Wealth Africa

Land Bank hopeful to raise R3bn within the next fortnight

In a notice on the Stock Exchange News Service, issued on Wednesday, it outlined timelines for its restructuring process, as well as a second stage – "repurposing strategy".

Tanzania gets $26m IMF loan for debt relief

The pandemic has weakened near-term macroeconomic prospects for Tanzania and in almost the entire sub-Saharan Africa.

CBK boss spared over Imperial Bank hearing

The CBK placed the bank under receivership in October 2015 after the board of the mid-sized lender alerted it about alleged malpractices.

African Development Bank joins Nasdaq Sustainable Bond Network

By joining the Nasdaq Sustainable Bond Network, socially responsible issuers are provided a unique opportunity to bring attention to their concrete actions

Nigerian Government Issues Amendments To Order On Voluntary Offshore Assets Regularisation Scheme (VOARS)

The Order also allows persons to elect to access any of the offshore assets regularisation facilities in Liechtenstein, Nigeria, UAE, Switzerland, UK or elsewhere by paying a 2% facility access fee.

Absa restructures 26pc of net loans

This has led to layoffs, reduced cash flow for businesses and forced unpaid leaves, which have set the stage for loan defaults.

Sanlam delays paying parent group Sh2.8bn

Sanlam Life paid $7 million (Sh745 million) in the year under review while Sanlam Plc have extended repayment to end of 2020.

OnlineDefunct fund managers want cash payments over bonds

It further appealed for a speedy resolution of the issue to restore calm and bring relief to the sector.

Exposing The USD 58 Mn Mess Made By Rogue Employees Who Stole From SA Bank

As a local news outlet first reported, Postbank is convinced that its employee(s) is/are behind the breach, per an internal security audit that was obtained from a source in the bank.

Africa at risk of slipping into a Covid banking crisis

Policy makers have to make a very important balancing role between immediate needs of the economic crisis and how to restore confidence and build a well-capitalised banking industry that is better able to support growth in the future.

The Digital Imperative for Banking in the New Normal by Ciko Thomas, Group Managing Eecutive, Retail & Business Banking (RBB)

For banks, there is an opportunity to leverage their mature digital-transformation journeys to emerge stronger, despite the likely margin squeezes and higher credit impairments.

South Africa is developing new rules to deal with collapsing banks – including how savings will be covered

This funding will be supplemented by funding in the form of interest-bearing deposits placed by banks with the Corporation for Deposit Insurance

COVID-19: Ecobank provides GHC1.3 million support to Private Sector Fund

The PPEs and kits will complement the national stock of essential logistics required by frontline health workers for the early detection and timely reporting of COVID-19 numbers in Ghana.

SEC in talks with MoF to secure comprehensive solution in paying defunct investment banks’ clients

So far, the Director-General noted, most of the claims filed have been acknowledged – but stressed that an acknowledgement is not a confirmation or validation of claim.

A disciplinary hearing for Deloitte's auditors of African Bank took 2 years, and it's finally over

The IRBA argued that Jordan became too close to former Abil CEO, Leon Kirkinis, to the point that he did not address management bias.

Kenya is not facing debt crisis, assures Treasury CS

The government has rolled out an aggressive fiscal consolidation exercise in the face of shrinking revenue due to the Coronavirus pandemic.

Digitalisation's mixed development record

Does digitalisation drive future-proof development for the Global South? A closer look fuels doubt about too much optimism

Inside the looming court case that could force insurers to pay Covid-19 claims

However, some insurers, including Santam, also promise to cover their clients for notifiable infectious diseases and the cover is largely sold to the hospitality sector.

Investing in Africa: The Role of International Finance Centres

Matthew Gilbert, head of Maples and Calder's British Virgin Islands team at the Maples Group's London office was recently quoted in an African Review article where he spoke about investing in Africa and the role of international finance centres.

Central bank overdraft declines to lowest level since March

The overdraft facility, a temporary source of cash to cater for emergencies and priority payments, is usually used by the Treasury when revenue streams such as tax receipts and debt do not flow in at a pace that matches expenditure demands.

Regulation,Tax & Compliance