Managers of Wealth Africa

Kenya is headed for IMF’s bitter pill

The biggest Chinese loans on our external debt register are the various facilities we took up for the standard gauge railway.

Stanbic IBTC Bureau De Change Discontinues Operations

It added: “The intention is to repurpose this subsidiary for other business venture in the near future, and stakeholders would be duly notified when all engagements have been concluded in this regard.”

IMF approves Angola’s $ 487m disbursement

At the time of the third review, the Executive Board also approved the authorities’ request for an augmentation of access of SDR 540 million (about $765 million at the time of approval) to support the authorities’ efforts to mitigate the impac

South Africa central bank to hold repo at record low through 2021

South Africa’s already overblown budget has been hamstrung by the coronavirus, setting the stage for difficult public sector wage and tax deliberations in the upcoming February budget, economists reckon.

Does WhatsApp policy comply with SA privacy laws? Information regulator jumps in

The regulator has made contact with Facebook South Africa, which has provided the regulator with the WhatsApp privacy policy, which was revised on January 4.

Foreign investors cut KCB stake to new low

The profile shows that locals have taken up an additional 143.64 million shares between March and November, raising their stake from 61.15 percent in March.

Lawmakers move to tame heavy borrowing in Kenya

The Private Members Bill introduced in Parliament by Nambale MP John Bunyasi also provides that due diligence be carried out on the government’s debt funded projects in terms of their actual costs and economic returns, to avert further loss of taxpa

Why Kenya is yet to receive funds stashed in Swiss banks

Many Kenyans found it difficult to understand why Switzerland did not simply return the funds to Kenya without much further ado.

‘Old Mutual, PPC suspension affecting asset value’

Old Mutual and PPC remain suspended from trading on the ZSE.

African Development Bank President Adesina named a champion of Africa’s Great Green Wall climate-adaptation initiative

In the role of champion, Adesina will lead the mobilisation of political and economic support for the initiative

2021 will be critical in the fight against COVID-19 and climate change’ – UN Secretary-General António Guterres

COP26 President Sharma said the global transition to clean power must move at least four times the current pace to achieve targets set out in Paris Agreement on climate change

SA agency suspends Fidelity Shield Insurance ratings

Therefore, GCR added, it may continue to provide ratings and analytical coverage for company should it avail the required information.

Financial Markets Regulatory Outlook 2021

Recover, renew, rebuild

Ex-Skye Bank chair petitions EFCC over alleged forceful takeover of company

In a petition by Femi Falana, counsel to Mr Ayeni, the petitioner asked the EFCC to investigate alleged gross mismanagement and criminal diversion of company funds by Mr Okunbo.

LETTER: Dires state of Land Bank is due to Treasury’s oversight failure

Investors want clarity and an implementation plan, but the ANC government keeps making statements with no implementation intent

4 planned changes that every South African business should know about

Under the legislation, the minister will first need to publish a notice in the gazette identifying national economic sectors which will be impacted.

Retirees battle Teleposta over rent row, pension

The standoff between the retirees and Teleposta Pension Scheme started in 2005 leading to many court cases and frequent raids by auctioneers acting on behalf of the scheme.

Banks sound profit warnings on Covid-19 loan defaults

Banking sector’s ratio of non-performing loans has risen from March’s 12.5 percent to 13.6 percent in October— the highest since August 2007 when it stood at 14.41 percent.

Malawi Central Bank Suffers Fraud

Mchakulu has allegedly been making non supported transactions from the ORT (Other Recurrent Transactions) to a stationery supplier.

Nigeria: At Last, Govt's 774,000 Job-for-Youths Scheme Takes Off

It is also aimed at shielding the most vulnerable from the ravaging effects of COVID-19 pandemic, which include, but are not limited to, pervasive hunger, poverty, environmental degradation and joblessness.

Regulation,Tax & Compliance