Managers of Wealth Africa

Combating Fraud in Banking Industry

In recent times, the activities of fraudsters have increased and the banking sector is grappling with efforts to tackle this menace headlong.

SEC Begins Regulation of Crypto-Currency Assets to Protect Investors

Thus, the burden of proving that the crypto assets proposed to be offered are not securities and therefore not under the jurisdiction of the SEC, is placed on the issuer or sponsor of the said assets," it said.

Kenya Bankers Association, Huawei ink partnership to promote tech-driven financial inclusion

Kenya Bankers Association CEO Dr. Habil Olaka and Huawei Kenya Chief Executive Officer Mr. Will Meng during the signing a memorandum of understanding. Under the agreement, the two organizations will organize financial ICT-related activities.

CBK income from selling forex to State doubles

This helped boost net trading income to Sh10 billion from Sh4.2 billion in 2018.

AFREXIMBANK and International Islamic Trade Finance Corporation (ITFC) Partner with ARSO to Facilitate Intra-African Trade in Pharmaceuticals and Medical Devices, under the Umbrella of the AATB Program

The new initiative aims to harmonise African standards for pharmaceuticals and medical devices thereby enhancing intra-African trade, reducing substandard counterfeit products, and building resilient regional health systems

Despite COVID-19 pandemic, Africa still a prime investment destination, participants affirm at African Development Bank (AfDB) webinar for Asian audiences

The webinar noted that the policy recommendations of the African Economic Outlook Supplement could be regarded as important opportunities for investments

T-bills bids off target, investors focus on long-term securities

On the 182-day T-bill, the yields have gone up from 6.56 percent to 6.69 percent in the period, while the 364-day T-bill has seen its rate rise marginally from 7.52 percent to 7.56 percent in the past five weeks.

Fintechs, banks battle for market share

Fintechs are firms disrupting the conventional banking model by using technology to make financial operations easier, faster and more accessible to businesses, institutions, and the general public at large (customers).

Time to exhale: Banks are – more or less – withstanding the coronavirus shock

Banks, especially big ones, are essentially an indication of the state of the economy – except for one crucial difference; they need to retain the confidence of their clients.

Ithala on track for banking licence while helping citizens

“By simplifying the conversation about wealth creation, we aim to offer our customers and potential customers a practical formula to accumulate wealth.”

Continental Reinsurance Plc acquires 100% ownership of its Botswana subsidiary

Continental Reinsurance Plc now holds 100% of issued ordinary share capital in its subsidiary.

Kenyatta Blocks Sh100,000 Monthly Pension for Ex-MPs

The President has recommended the deletion of the clause that carries the primary content of the Bill, saying it overlooks the mandate of the Salaries and Remuneration Commission.

Back to the drawing board on pension pot access for emigrants

Treasury has invited further comment from those who who are against the three-year rule.

Supporting Public Private Partnerships in Africa: African Development Bank ready to scale up

The African Development Bank estimates Africa’s infrastructure financing needs at up to $170 billion a year by 2025

U.S. Export-Import Bank’s Sub-Saharan Africa Advisory Committee Shows Strong US Commitment to Africa

The Committee is composed of pro-investment and pro-business advisors who understand Africa and will be instrumental in growing the US-African cooperation

African Diaspora Asset Managers granted fund manager license

The Capital Markets Authority, CMA, has granted African Diaspora Asset Managers Limited a fund manager’s license.

World Bank approves Sh81bn loan for Isiolo-Mandera road upgrade

The upgraded road, the fibre optic connections, and the provision of basic social services are expected to attract investments, facilitate regional and domestic trade, create jobs, and improve access to internet-based opportunities.

African Development Bank approves $27.33 million to ramp up the African Union’s COVID-19 Response Initiative

The approval follows a meeting of the extended Bureau of the Conference of Heads of State and Government with Africa’s private sector on 22 April 2020

Sh81bn WB loan to spur development in northern Kenya

It comes at a time when the World Bank has stepped up lending to Kenya including the $1 billion (Sh108 billion) that was approved in May to help the country close a gaping budget deficit and tackle the economic shocks from the coronavirus pandemic

Shoprite exits Kenya with Stanbic’s Sh1.5 billion loan

Recent debt crises in the Kenyan supermarket business has shown that the retailers operate on an asset-light business model, paying lenders, landlords, suppliers and employees from sales collections.

Regulation,Tax & Compliance