Managers of Wealth Africa

KCB to delist National Bank on State stake

This is designed to ensure that dissenting investors are given an opportunity to exercise their option of declining the offer and remaining part owners in a listed company.

Mozambique’s former finance minister Chang could be heading for rendezvous with US justice system

New Justice Minister Ronald Lamola’s decision to oppose Manuel Chang’s extradition to Mozambique opens the way for him to be tried in the US.

CBK pushes for lower mobile loan fees

The pricing of some of the mobile phone-based loans includes a huge component of fees, which is outside regulatory control.

Nigeria: Banks No Longer Need Separate License for Wallet Service - CBN

Jimoh said: "You do not need authorisation from the CBN to go into Wallet services or mobile money schemes. All you need is to notify the CBN your current license suffix."

Tanzanian central bank fines lender for breaching rules

“BoT ... directed all banks and financial institutions operating in Tanzania to establish either a primary or secondary data centre in Tanzania with a view to ensure data and service availability at all times.”

Société Générale plans to extend Absa partnership to project finance

Attracted by Africa’s young and growing population, Société Générale has pulled out of east European emerging markets such as Bulgaria and Serbia and increased its African focus.

AfDB urges countries to join Africa50 for a more prosperous Africa

Alain Ebobissé, CEO at Africa 50, noted that the organisation had made significant progress over the years and built an effective partnership with several African countries.

Nedbank Head of Retail's Salary Suspended

He is alleged to have been aware that several invoices which were presented by service providers were fabricated, in that the services were not rendered and he went on to authorise payment of those invoices without verifying that the work had been done.

How BTI Bank is leading the way in Morocco’s participatory banking sector

Offering Sharia-compliant products and services, participatory banking is reshaping Morocco’s financial landscape

Africa's largest fund manager given more board independence

That's as the South African manager of more than 2 trillion rand ($142 billion) faces the inquiry, is running several internal probes on key employees and has its third chief executive officer in six months.

Merger & Acquisition in Africa and South Africa

The South African market is still somewhat depressed and current M&A activity is more focused on internal restructurings, consolidation and business rescue, as it waits for positive investor confidence post elections to translate into real gains.

NBK staff face jobs loss after merger with KCB

“KCB will among other things conduct a review of the organisational structure to improve the management and operations of NBK from an efficiency as well as product view point,” said NBK in the circular.

PIC’s Matjila Discussed Eskom Debt-for-Equity Swap: PIC Update

The inquiry has heard from about 70 witnesses -- several of whom flagged Matjila as having played a key role in approving questionable deals.

Deloitte, we have a problem

Tongaat is the third major corporate scandal to have dragged Deloitte into its wake in recent years, considering it also happened to be the auditor at Steinhoff and African Bank

Investors Selling Bank Stocks Ahead Of LDR Implementation

Investors are aware that the new policy may force banks to start issuing high-risk loans

NBK to pay sacked staff Sh11.2m in compensation

On March 16 and 17, 2013 it was established that there was a systems breach at NBK where a fraudulent batch gateway of Sh330.02 million was processed in the BankFusion Universal Banking (BFUB) system but which was averted, the court papers say.

Angola to Sign Lusophone Country-Specific Compact

The signing of the compact follows a Memorandum of Understanding of a Development Finance Compact for Portuguese-Speaking Africa, signed during the Bank’s 2018 Africa Investment Forum held in Johannesburg, South Africa.

African Development Bank, Portugal and Cabo Verde sign compact to accelerate diversification, private sector development

It provides risk mitigation, investment products and technical assistance to accelerate private sector development in Lusophone African countries

Nigeria attracted $7bn deals from African Investment Forum — AfDB

He disclosed that the AfDB would be increasing its average investment in Africa from about $600m every year to about $1bn per annum in the next three years.

Windows for porting of PFAs underway as PenCom deploys ECRS

Making the ECRS public in a statement, the commission said following this feat, the Commission said it had “transited from the use at the existing Contributor Registration System, CRS, to the ECRS.

Regulation,Tax & Compliance