Managers of Wealth Africa

Zimbabwe Central Bank unleashes currency monitors on retailers

In an interview on Friday, Reserve Bank of Zimbabwe Governor, Dr John Mangudya said there was a need for businesses to comply with the Statutory Instrument 142/2019

Nigeria's central bank orders banks to lend or face sanctions

Nigeria’s economy has since recovered from that contraction, but lending has not returned as growth is slow and banks prefer to pack cash in risk-free government securities rather than lend to businesses and consumers.

To Spur the Economy, Nigeria Orders Banks to Loan More Money

Central bank sets 60% loan-to-deposit ratio target for banks

South Africa's central bank aims to sell African Bank stake in year or two

“It is not the intention of the Reserve Bank to own the share for a very long time but we do want to ensure that the bank is sound and stable before we exit,” Deputy Governor Kuben Naidoo told reporters.

Five things making headlines in South Africa today

Sarb repays monies lost to illegal schemes, AfriForum takes City of Tshwane to court over electricity tariffs, Denel asks state for cash injection and more.

Let’s reinforce power sector regulations to attract investments – African energy stakeholders

“Effective regulation is a key enabler of an improved business environment,” Kambanda said in opening remarks at a donors’ roundtable on Electricity Regulatory Index (ERI) for Africa.

Nigeria will sign African free-trade deal

Nigeria is set to sign the African Continental Free Trade Agreement (AfCFTA) at a summit this weekend, after holding out for over a year.

Central Bank of Liberia Board Member-designate Describes US$25m Mop-up Exercise as “Tactical Error”

According to Mr. Dennis, TEMT should have used commercial banks to carry out the mop-up, which according to him, would have been the only effective way of achieving the aim of the exercise.

Absa to secondary list ETFs on A2X

The Newgold ETFs that are being listed on A2X are the largest ETFs in the local market with almost R25 billion in assets under management, Absa said.

World Bank vows to back Kenya’s development blueprint

Ghanem commended Kenya for taking the lead in the East African region, noting that the World Bank is working on a program to develop a digital market in East Africa that will start with Kenya, Rwanda and Uganda, but later expand to the other countries in

‘Africa should reinforce power sector regulations to attract investments’

In collaboration with development partners, AfDB seeks to implement the recommendations of the 2018 Index through targeted support by providing technical assistance to some 15 countries

PIC board sent Dr Dan Matjila in pursuit of IT security breach

Menye said when they met with the chief executive in his office, he advised them that the security assessment was an instruction from the board.

Why Africa’s Biggest Fund Manager Is Under Fire

It’s Africa’s largest fund manager, with the assets under its control equating to about 10% of the total market value of all companies trading on Johannesburg’s stock exchange.

Nigerians count losses as SIM swap fraudsters empty bank accounts

She inserted her SIM card into another phone but the same thing happened and, according to her, the customer care service failed to assist her, as they didn’t answer the call.

Nigerian Banks Face Threats From Telcos With Implementation of Payment Service Banking -Moody's

Moodys notes that most of the banks in the country, will not be able to withstand this competition, with the exception of Access bank, United Bank for Africa (UBA), Guarantee Trust Bank (GTB), First Bank of Nigeria )FBN) and Zenith bank.

Cabo Verde signs memorandum with the African Development Bank and Portugal

The Lusophone Compact was signed between Portugal and the African Development Bank in November 2018 as part of a wide range of multilateral partnerships announced during the Africa Investment Forum in Johannesburg, South Africa.

Ex-Old Mutual CEO vs Trevor Manuel: Explosive court papers reveal how 'all hell broke loose'

The "last straw", says Moyo, was his objection to the board regarding the "improper non-disclosure of a payment amounting to millions of rand, which was paid by Old Mutual in respect of [Manuel's] legal fees for his much-publicised leg

Nigerian banks to face stiff competition from fintech firms as CBN moves to boost USSD, agent banking and PSBs

Moody's, a global investors service, stated this in a report released on Monday and made available to Business Insider SSA.

Financial institutes urged to embrace technology

To this end experts are calling for more appropriate IT integration in the financial services sector to among other things ensure protection of customers’ data.

Kenya says to broaden cooperation with China over financial technology

Early this week, financial sectors regulators from China and Kenya held fruitful talks in Nairobi on cooperation in the fintech sector.

Regulation,Tax & Compliance