Managers of Wealth Africa

African Wealth Funds Primed for Deployment as Geopolitical Tensions Ease from Decades Ago

Despite being the largest fund, LIA is not without its complications.

Nigeria Ups the Ante on Banks With Tougher Lending Demands

The directive comes after some lenders failed to meet an earlier deadline to ramp up lending

AfDB swears in new sanctions commissioners

They will issue sanctions against individuals and entities whose liability is established following a written and adversarial process.”

Everton’s sponsors SportPesa remove business from Kenya due to hostility of African nation's government

Along with several betting companies, SportPesa had its licence suspended in Kenya after the government claimed online betting outfits weren’t doing enough to curb the rise of gambling addiction among young people and also not paying enough tax.

Kenya’s Big Four Agenda Gets Global Recognition

Kenya’s trade readiness score is particularly high, due to infrastructure and ease of doing business improvements that far surpass most other African nations in our index.

Aggressive CBK cash mop-up drives T-bill subscriptions down

The seven-day the TAD being used by the CBK for the mop-up stood at 8.98 percent on Friday, just shy of the nine percent maximum allowed (the prevailing Central Bank Rate)

New laws on the cards to regulate participation of foreigners in SA economy - report

The minister said that government cannot account for the business conducted by foreign nationals in the country, as their money is not necessarily banks in SA's banking systems.

SASBO says it will scrutinise Capitec's recruitment process

The South African Society of Bank Officials (SASBO) says it'll scrutinise the offers put on the table by Capitec Bank, when it signs contracts with new staff.

AU urges Kenya to extend tax breaks to local companies

Data from Kenya Revenue Authority (KRA) shows that tax handouts, which stood at Sh220.8 billion 10 years ago

Zimbabwe’s central bank to fine users of foreign currencies

Overseas currencies aren’t allowed for payments of goods and services or fees and commissions.

Africa dreams of free trade as red tape rules on the ground

Cargo trucks face long delays at Kenya, Tanzania border

South African government issues $5bn in bonds

The 10-year bond priced at a coupon rate and re-offer yield of 4.85 per cent which represents a spread of 313 basis points above the 10-year US Treasury benchmark bond.

Sanlam announces retrenchment plan targeting staff aged above 50

Sanlam seeks to rationalize staff within its life and general insurance business to cover 193 employees whose average age currently picks at 35.

A strong case for dropping CBR as monetary policy tool

Fear of uncertainty can make people hoard cash, or make bankers hesitant to lend and borrowers afraid to take credit.

Regulator warns Kenyans against forex trading platform

CMA has said Interweb Global Fortune has been operating as a pyramid or ponzi scheme, where investors are promised high returns or dividends which are not realistically available

CBK Announces More Mergers In Kenya’s Banking Sector

“The treasury is setting fiscal deficits each financial year and if this continues to happen, we shall have a scope of monetary accommodation,” said Mr. Njoroge.

Kenya parliament rejects request to remove interest rate caps

Lawmakers voted by acclamation to reject the Finance Ministry’s request on the caps contained in the 2019/20 budget

No new banking applications yet — Bank of Ghana

There had been concerns in some circles that the central bank was processing fresh applications for banking licences two years after the financial sector clean-up.

Google seeks to set rules in digital lending ‘Wild West’

To continue accessing the Google App store platform, the multinational has asked apps for personal loans to disclose maximum Annual Percentage Rate (APR), which generally includes interest rate plus fees and other costs for a year, or similar other rate c

South African Court Blocks Biggest Bank Strike Since 1920

Labor court ruling may affect nationwide strike on Oct. 7

Regulation,Tax & Compliance