Managers of Wealth Africa

SEC Releases Rule on Registration for Nominee Function

The rule also stipulates that a nominee shall not engage in any business or activity except the business of nominee companies described above.

CBN Seeks to Lure Portfolio Investors with Higher Yields

Last week, the FMDQ OTC futures prices were adjusted higher by an average of N9.81 on the short-end and N14.16 on the long-end of the curve.

African Development Bank, FAO and South Sudan’s government ink protocols for $14 million grant to boost agricultural markets

The project will create aggregation business opportunities for farmers and traders, including women and youth, and provide them with new skills and the agro-processing equipment they need to produce competitive products.

CBN, NSITF yet to pay 50% equity in FMBN

Reps query FMBN, TETFUND over 5-year unaudited accounts

Rand boost as traders expect positive news for South Africa

Debt issuance is also higher than budgeted, with the government taking advantage of strong demand to boost weekly sales.

Analysing the Central Bank of Nigeria’s Dollar Remittance Policy

The CBN also directed the closure of all naira ledger accounts by Deposit Money Banks (DMBs) to discourage the use of unsafe and unofficial channels

FG, World Bank begin process to rebase Nigeria’s GDP

This is necessary because of the changes in relative prices and the structure of the economy over time.

A Pragmatic Solution to the BEAC’s FOREX Regulations Will Not be Reached Without the Involvement of Local Stakeholders

Reaching a fair and just resolution that puts forth the interests of Africans, businesses and investors cannot be done without involving local services companies, local entrepreneurs and the local business community.

Conditional loans raise public debt by Sh1.23trn

Kenya had kept away from this type of credit, which come with demands for macroeconomic reforms, during administration of former President Mwai Kibaki, with most of the support from institutions like the IMF and the World Bank coming in the form of projec

Borrowers blacklisted on CRBs hit 14 million

The banking regulator had given a six-month suspension of CRB listings in April as part of the measures to cushion borrowers hit by the coronavirus pandemic.

South Africans should prepare for price hikes over the next few months

“This is unfortunate news for producers and consumers in the sense that transport cost will definitely increase due to this, which will have a negative effect in disposable income of the consumers.

Access Bank’s directors approve dividend payment

Shareholders received N14.22 billion as final dividend for the 2019 business year in addition to interim dividend of N8.89 billion earlier paid by the bank, bringing total dividend for the year to N23.11 billion.

CBK gets bigger role on digital payment systems

“To mitigate against such threats, CBK is in the process of formulating a National Payments Strategy to address emerging risks and guide the payments ecosystem in Kenya,” he added.

Regulate mobile money, but don’t kill innovation

A National Payments Strategy will "address emerging risks and guide the payments in Kenya and ensure pricing practices are reflective of the overall stance on customer-centricity, affordability, and transparency."

KCB offers recovery loans for small enterprises

The fund will also be used for green financing.

NBK faces auction after losing Sh136m pension case

Lady Justice Maureen Onyango, however, upheld the ruling saying NBK was not entitled to the review orders it sought for flouting the trust schemes rules.

French billionaire puts Mozambique leader at heart of debt scam

Frelimo spokesman says Nyusi wasn’t president at the time and under Mozambican law was allowed to receive political donations.

Beware of sensational news around prescribed assets in South Africa

The biggest target for these attacks is retirement annuities

The long-anticipated relaxation of the South African Exchange Control Rules

The "loop" structure and investments restriction were lifted to promote inward investments into South Africa

DRC’s problems with Kenya’s Equity Bank and James Mwangi

At the end of December, the Kenyan financial services giant – which reported revenue of KSh76bn in 2019 – received the green light to merge its banking network with the newly acquired company, thereby increasing its stake in Equity BCDC to mor

Regulation,Tax & Compliance