Managers of Wealth Africa

President must do more than talk – HRM Oscar Yao Doe

The president expressed these frustrations in a meeting with Members of the Council of State on Tuesday.

Former UN Economist Becomes Prime Minister in Crisis-Hit Sudan

Abdalla Hamdok set to head promised cabinet of technocrats

Nigeria’s forex reserves might face $9 bln fine

The Nigerian currency is facing pressure on the international foreign exchange market with a further decline against the US dollar.

Irresponsible Bank of Ghana caused banking crisis – Akufo-Addo

“As a result, look at the amount of money that the public exchequer on the first phase of the banking scandal; GHS13 billion, had to come from public funds to support the industry and make sure that the funds were secured”, the President noted

Ghana’s Shutdown of Second-Tier Lenders Seen Risking 4,000 Jobs

The steps marked the end of an industry cleanse of lenders and second-level financial institutions that started in August 2017 and cost the government at least 12 billion cedis ($2.2 billion) in bonds and cash to cover depositors’ holdings.

State currency order returns Sh25b in ‘mattress accounts’

The financial regulator acknowledges that some of the Sh196 billion could be money that Kenyans are using to buy goods and services with some in people’s pockets, but a good chunk of it could also be dirty money that has been kept out of circulation

Ramaphosa to Brief Lawmakers as South Africa Seeks to Cut Spending

They were distributed to departments to guide their preparation for their budget proposals.

Mozambique announces decision to join African Bank of Imports and Exports

The $ 1 billion fund is intended to help countries adjust to the sudden and significant loss of customs revenue, which is expected to be reduced and in some cases eliminated.

MTN granted permission to bring digital banking to Nigeria

In May, MTN Nigeria listed in Lagos with a $6.54bn at the time debut that turned it into the Nigerian Stock Exchange’s second-largest stock by market value.

Barbados: Kenya Ties On The Table

Speaking at a forum entitled ‘Strengthening Trade and Investment Co-operation within the ACP Framework Kenya-Barbados Private Sector and Other Stakeholders’ at the Lloyd Erskine Sandiford Centre, the Prime Minister suggested Kenya presented my

GN Bank siphoned $62m - BoG

According to the Central Bank’s report, GN Savings and Loans transferred $62 million and another 718,000 Pounds Sterling to its sister company in the US without the knowledge of BoG and the Ministry of Finance.

Regulator caps private stake in mortgage firm

Numerous local banks have expressed interest in investing in KMRC, which will offer cheap loans to banks for onward lending to Kenyans.

Prescribed assets: What government could do with your retirement savings

The ANC’s economic policy head said the party is investigating using prescribed assets to avoid an IMF bailout.

Trevor Manuel refuses to take Peter Moyo back

Representing Old Mutual, Vincent Maleka wanted the court to clarify the interim order by Judge Brian Mashile that Moyo's dismissal was unlawful.

Uganda planning threefold raise on deposit insurance cover this year

The current Ush3 million ($805) deposit protection ceiling was introduced in the early 1990s under the repealed Financial Institutions Statute of 1993.

UBA to support SMEs at Lagos trade fair

A statement said the UBA, the headline partner, would be working with the LCCI to provide a veritable platform intended to grow both domestic and international trade.

NIC, CBA bank merger exempted from paying millions in share sale tax

NIC Group will remain listed, suggesting a transfer of the CBA unquoted shares, which makes them liable for the one percent stamp duty tax.

São Tomé and Principe sign MoU for Lusophone Compact

The signing ceremony was attended by over 50 participants including representatives of the São Toméan Government, members of the diplomatic corps, financial institutions, private companies and project sponsors, the Compact for São Tom

Reserve Bank worth its weight in gold, that's why they want to nationalise it

The group’s capital and reserves accumulated to over R20 billion in 2019, while the group’s ratio of capital-to-total-assets increased to a healthy 2.3 percent.

Fidelity Bank signs pact to promote open banking

By relying on networks instead of centralisation, open banking helps customers to securely share their financial data with other financial institutions.

Regulation,Tax & Compliance