Managers of Wealth Africa

Pension funds’ landmark legal victory and what it means

Regulation affecting billions in unclaimed benefits declared invalid.

Safaricom sees reduction in Ethiopia licence bid price without M-Pesa

Safaricom has never disclosed how much it is willing to bid or the expected annual rate of growth the investment in Ethiopian market will be expected to generate, terming it as competitive and sensitive information.

Emigration, delays, double tax and other worries

Emigration is now hot on everyone’s lips.

CDC unveils additional $100m trade finance agreement with Standard Chartered

CDC Group, the UK’s development finance institution and impact investor, has committed an additional $100m commitment to its existing master risk participation agreement with Standard Chartered.

South African watchdog warns investors over unregulated adviser

As it alerts public against a separate investment firm promising ‘unrealistic huge returns’

Government reminds South Africans of ATM fraud

This is a technique used by criminals to trap a bank card inside the ATM by inserting a thin film of plastic into the ATM card slot.

No reprieve for Nigeria’s chronic loan defaulters

FBN Holdings Plc, United Bank for Africa Plc and Zenith Bank Plc expanded their loan books by the equivalent of about $1bn each in order to dodge heavy penalties from the CBN, S&P Global Market Intelligence calculations showed.

JPMorgan to Reveal Bankers Who Approved Suspicious Transfers

Lawyers for JPMorgan and the Nigerian government said at the end of a London court hearing Thursday that the bank would clarify who was involved in the decisions on the payments. The trial is expected in early 2022.

Standard Chartered Signs Deal With AWS

Standard Chartered Bank is collaborating with AWS to drive its digital transformation and deliver new personalised banking services in the bank’s 60 markets worldwide.

Financial modelling in the extractive sector: Harness Africa’s natural resources for sustainable development - African Development Bank

Natural resources play a critical role in economies, as they contribute to the well-being of the people, as a source of livelihood and contribute to GDP

SA Banks vs Nigerian Banks: The Gulf In Class And The Greener Grass

This means that, If the top five banks in Africa’s most populous country and the continent’s largest economy, Nigeria, decided to merge and form a single bank, they still wouldn’t measure up to the largest South African bank, asset-wise.

Banking clean-up has shaken the economy badly – Mahama

The BoG in its reasons for the action said some the financial institutions granted huge unrecoverable loans and engaged in excessive high-risk undertakings coupled with poor corporate governance in the face of low capital.

Nigeria: Sanwo-Olu Moves to Abolish Pension for Ex-Govs, Deputies

The 2020 budget was reduced to N920.5 billion due to the COVID-19 pandemic that ravaged the world this year.

South African banks set to extend Covid-19 loans to January 2021

Basa said it has provided up to R33.61 billion in financial relief to individuals and small and medium enterprises up to 24 October.

KRA should change tack to boost tax compliance

The KRA must work hard to undo its nasty image if it is to drive up tax compliance.

Nigerian Court Says Central Bank Can Block Protest Accounts

Some accounts were restricted before ruling was issued

Cititrust’s Asset Management arm secures approval to operate in Kenya as Funds Manager

CFS Asset Management Limited has been granted operating license by the Kenyan Government to operate as a fund manager.

Sanlam in talks with parent firm to delay repaying loan, again

To settle the debt, Sanlam Kenya put on market land and buildings valued at Sh900 million that it planned to sell by the end of this year.

EU ‘blacklisting’ takes shine off Mauritius – report

European Commission says the island has ‘strategic deficiencies’ in its anti-money laundering and counter-terrorism financing regimes.

GTBank obtains approval-in-principle from CBN to operate as financial holding company

Agbaje during the company’s earnings call as of the time of the report in March, disclosed that a holding company structure will enable the bank to keep up with the latest trends in the Nigerian financial services industry.

Regulation,Tax & Compliance