Managers of Wealth Africa

UAE criticised for ‘ineffective’ sanctions and money laundering efforts

The accusations are made by the Middle East and North Africa division of the Financial Action Task Force

State offers 40pc of pension savings for home purchase

Proposed changes to the pension laws are meant to make it easier for individuals to buy their first homes given that most households are unable to raise the minimum house purchase deposit or afford the typical monthly mortgage repayments.

No space to recapitalise the Land Bank in the current budget

This means unless a special appropriation is brought to Parliament, there will be no money for the Land Bank for the current fiscal year, which ends on 31 March.

Delay in hearing against two Deloitte partners

The matter would have been heard this week, but which were postponed due lockdown requirements as a result of the Covid-19 outbreak.

African Alliance Insurance Plc announces board meeting and closed period

African Alliance Insurance PLC has announced that its Board of Directors will hold a meeting at 54, Awolowo Road, Ikoyi, Lagos on Wednesday.

Leaving lockdown – is there a strategy?

South Africa gov’t has proved it is not afraid to make hard decisions but toughest may be yet to come

Why Your Business Needs To Embrace Co-op Bank E-Commerce

There has been little call to businesses to embrace the cashless mode of transaction.

Eleven banks paid N8bn IT levy in 2019 –Reports

Zenith Bank paid the highest IT levy out of all the banks in 2019, reporting N2.41bn, a 17 per cent increase from N2.06bn remitted in 2018.

S.A banks’ relief for virus-hit borrowers nears $800 million

The Banking Association of South Africa said the industry had already implemented more than 15 billion rand ($798.03 million) in temporary repayment help – with roughly half going to individuals and half to businesses.

Meet the people in the engine rooms of top companies on the NSE

The role of the secretary in corporate governance is critical as they are to ensure that good corporate practises are adopted and maintained.

Financial Scams Rise as Coronavirus Hits Developing Countries

There is the risk that these scams could undermine confidence in digital technologies that are proving so very important in keeping people informed and connected during the pandemic.

Finally, FG Receives $311m Abacha Loot from US, Jersey

This agreement is based on international law and cooperation measures that set out the procedures for the repatriation, transfer, disposition and management of the assets.

CrowdFunding: Who is qualified according to new SEC Guidelines

Micro, Small and Medium Scale Enterprises (MSMEs) incorporated in Nigeria with a minimum of two years operating track record, shall be eligible to raise funds through a crowdfunding portal registered by SEC

LOOMING RECESSION: Difficult times ahead, Okonjo-Iweala warns

If you look even in the Middle East, where you have countries like Kuwait, UAE among others, you have so many countries that are commodity dependent but they save and save because what goes up must come down.

Rwanda drops lending rate to 4.5pc

The central bank also eased prudential requirements to exceptionally allow banks to restructure outstanding loans of borrowers facing temporary cash flow challenges arising from the Covid-19 pandemic.

Ugandan banks caught between government and virus

An executive at Citi bank who preferred to speak off the record said, “We haven’t received any loan restructuring requests from our clients, but other commercial banks have received lots of them. The big challenge is filtering genuine requests

Rwanda total debt hits $4.9b amid lockdown

The government’s austerity measures—such as the suspension of April salaries for majority of public officials—will help to ease government expenditure.

CBK roots for Treasury SMEs credit guarantee

The Treasury first floated the proposal for a credit guarantee scheme in May 2018

Nigeria: COVID-19: Economic, tax, and other fiscal stimulus measures

Relevant federal and state agencies also have announced various measures of their own.

Jonathan opens up as Buhari Govt searches for U.S. ‘bank accounts’

It insisted that between that time and the present, nothing has changed about the former Nigerian leader.

Regulation,Tax & Compliance