Managers of Wealth Africa

AfDB to support Kenyan women after meeting with First Lady

Ms Nwabufo singled out capacity building activities for Kenyan women in business as one of the areas that the bank is keen on supporting.

IMF wants South Africa to create an investment friendly environment

According to Treasury, the global lender also highlighted the major challenges facing the economy, which include weak growth, a deteriorating fiscal situation and difficulties in the operations of state owned enterprise.

These 3 Richest African Leaders Are Worth USD 7.4 Bn Despite Poverty In Their Countries

While up to 413 million Africans live on less than USD 1.90 a day, leaders of certain African nations sit on top of millions, even though their countries can be considered poor or at risk of poverty.

Investors in rare snub of CBK’s 10-year bond

This is a return to normal market practice after the previous longer-tenor issue, a 16-year infrastructure bond offer, saw CBK set a different coupon from what the successful bids had dictated despite the offer being market determined.

First Bank denies plan to sack core workers

Adebayo said the company met all indices and requirements for carrying out the exercise.

African Leaders Take on the Responsibility to Urgently Close the Gender Gap

The 2019 Global Gender Summit, the first to be held on the continent, kicked off on Monday with a strong call to surge ahead on gender issues and move from commitment to action.

AfDB funded 100 MW power plant launched in Juba

Following the outbreak of the civil war in December 2013 government-owned power facilities were badly affected with many forced to close due to operational costs.

African Development Bank Calls for Investment in Portuguese-Speaking Africa

In a recently published article, Magala says new tools – such as the Development Finance Compact for Lusophone Africa – give investors and lenders more comfort to enter into these markets.

Six State firms miss results deadline due to auditor-general vacancy

State-backed firms and agencies must secure approval for reporting their financial results from the auditor-general, but the previous holder of that office, Edward Ouko, retired in August and his successor is yet to be named.

Changes To Pension Regulations Facilities Multimillion-Dollar Real Estate Investment

The development will be undertaken over two phases, with phase one to include construction of a 30,000-square-foot warehouse and distribution centre, work on which will begin in two weeks.

The South African Rand Rises on SARB Signal of Steady Rates Ahead but the 2020 Outlook is Dire

Inflation has declined amid a soft domestic economy while oil prices have risen and the currency has fallen, leading the SARB to believe risks around price pressures are currently "balanced".

South African operations did not violate any regulations knowingly, says Bank of Baroda

The release also noted that that the bank’s business dealings and transactions undertaken by the South African territory were extensively examined by the regulator through external agencies and that reports have been submitted to them.

Old Mutual saga: FSCA urges customers to avoid cancelling policies

While we do not resolve individual complaints, we do hold accountable any licenced entity that does not treat its customers fairly.

Union, First Bank draw battle line over sack of 1,000 workers

Abakpa said the union would resist the action and would shut down the operations of the banks as the act runs contrary to labour law in the country.

Equity Group announces KSh 10.6 billion Acquisition of majority stake in Congolese Bank

EGH has purchased a 66.53 per cent majority stake in Banque Commercial du Congo (BCDC), a bank licensed in the Democratic Republic of Congo (DRC).

FNB shuts down South African cryptocurrency-linked bank accounts

This issue is not exclusive to South Africa – Barclays recently ended its relationship with Coinbase, one of the biggest cryptocurrency exchanges in the world.

Absa and African Development Bank Signs $250m risk participation agreement

It would furthermore increase intra-Africa trade and regional financial integration in line with the AfDB’s High 5 strategic priorities.

Africa: Urgent action needed to mobilise domestic resources as tax revenues plateau

African economies continue to rely heavily on taxes on goods and services, which accounted for 53.7% of total tax revenues across the 26 countries.

Best Bank Awards: Standard Bank

Standard Bank was voted Best bank for South African rand/African currencies excluding ZAR at the 2019 FX Week Best Bank Awards

Stanbic signs Kshs 3bn bank guarantee with Chinese firm

Stanbic Bank Kenya have been funding projects in line with the bank’s homegrown strategy to contribute to the growth of the Kenyan economy

Regulation,Tax & Compliance