Managers of Wealth Africa

Rwanda: African Development Bank commits $98 million for multisector COVID-19 response

The funding will take the form of an African Development Fund loan, which the Bank is providing the under its COVID-19 Response Facility

Djibouti: African Development Fund commits $41.16 million in grants to shore up COVID-19 response

The funding will take the form of an African Development Fund grant for $4.12 million and a $37.04 million grant from the Bank’s Regional Operations Envelope

Life under COVID-19 for China and Africa – FBNQuest

Tejinder Singh, noted a move in financing away from the sovereign obligor structure over the past 18 months (and so pre-COVID). African governments had become increasingly reluctant to issue guarantees.

African Development Fund approves UA100.4 million multi-country Covid-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome

The package will support the national actions of the four countries in mitigating the impact of COVID-19, with the overall objective of protecting lives and livelihoods

Mismanagement of depositors’ funds resulted in banking cleanup

“Let no one stand on the staple and proclaim untruths and let mature Ghanaians be quick to listen,slow to speak and slow to angry.”

Kenya’s central bank looks to regulate digital lenders

Currently, there is no legal framework in place governing digital borrowing platforms and other digital financial products and services.

Should I file a complaint against my wealth manager with the FSCA?

Steps to take before approaching the regulator.

Shilling falls to new record low in scramble for dollar

The shilling stood at 106.66 against the dollar ahead of Mr Kenyatta’s announcement.

Paul Perrier: Fundkiss aims to democratise the SME financing landscape in Mauritius

The focus of banks in Mauritius over the past decade has been on global businesses and large corporates.

Plan to allow South African workers' pensions to back state assets raises concerns

The government is seeking access to capital to help fund state-owned enterprises and infrastructure projects

Uganda: Sale of Orient Bank Awaits Bou Approval

Business Daily on July 20 reported that I&M Bank is likely to spend more than Shs2b in acquiring Orient Bank Ltd.

African Development Bank agrees $400 million loan for Mozambique LNG

The project will consist of two LNG trains with a total capacity of around 13 million tons per year.

Standard Bank SA boss, Lungisa Fuzile, on leadership in South Africa right now

Everyone is beginning to grapple with the challenge we now face in the best possible way.”

African Fund Managers Look For Governance In New Markets

Asset managers in Nigeria and the francophone West African countries are the most optimistic about prospects for Africa’s economies.

Ghana: Fidelity Bank, Prudential Life Insurance Extend Bancassurance Deal

She further commented that "the extended partnership incorporates technological innovations that are in line with Fidelity's digital transformation agenda in order to provide added value and convenience to our customers".

South Africa’s banks buckle up for a bumpy ride

GDP growth in 2019 registered 0.2% compared with 0.8% in 2018, making last year the annus horribilis for the South African economy.

Kenya to regulate loan rates of digital lenders with proposed law change

Like other commercial banks, these platforms would need regulatory approval before any major change.

Zimbabwe Mobile Operator Denies Money-Laundering Charge

When it issued the warrant last week, police said they were investigating Econet Wireless for suspected money laundering.

European banking regulator to probe Luanda Leaks’ allegations

European lawmakers have demanded the regulator assess “whether there were breaches of either national or EU law, and to assess the actions taken by financial supervisors.”

A Fishy Business: Shifting Profits Out of Africa

An analysis of the leaked files by Finance Uncovered, as well as public documents and the company’s financial statements, suggest Samherji used various techniques to reduce taxes in Namibia by shifting money to low-tax destinations like Cyprus and M

Regulation,Tax & Compliance