Managers of Wealth Africa

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.

Tanzania allows Airtel to defer listing on DSE

This policy requirement, passed into law in 2016, saw the country’s largest telco, Vodacom Tanzania, list on the Dar es Salaam Stock Exchange in 2017

Uncertainty as CBN plans another banks’ recapitalization regime

It would be recalled that Soludo had in his address on July 6, 2004 announced a ‘13-point Reform Agenda for Repositioning the CBN and the Financial Sector.’

Nigeria’s Central Bank hints at a new big bang bank shake up

The CBN under Emefiele has issued five new commercial banking licenses this year, in part to boost financial inclusion which is still low.

Africa pledges to deliver Blue Economy at Africa Blue Economy Forum (ABEF) 2019

The need for direct action to deliver the environmental, economic and social benefits for Africa

NBK to collapse if deal with KCB fails, Treasury warns

He warned that the Central Bank of Kenya (CBK) has been watching the regulatory ratios and management issues at NBK.

SARB Stalwart Mminele Quits, Fueling Talk of a Move to Absa

Mminele didn’t immediately respond to a request for comment, while Absa declined to comment.

Kenya’s ‘unrealistic’ revenue targets sets stage for increased borrowing

Revenues from import duty, excise duty, Pay As You Earn, VAT and Import declaration fees were severely affected.

Banks make lower profits after banking on government bonds

The banks’ investments in Treasury bills and bonds grew at 16 per cent this year, down from 25 per cent in the same period last year, according to analysts at Cytonn Investments.

Tanzania issues new rules to tighten foreign currency exchange controls

The Tanzanian shilling has been broadly stable since the beginning of the year and the International Monetary Fund said in an April report that the real value of the currency is “broadly in line with fundamentals”.

South Africa Working on New Oil, Gas Policy to Enable Growth

Regulation to be separate from mining sector’s, minister says

Bank of Ghana authorises merger between Access Bank Ghana and Diamond Bank in Nigeria

The Bank of Ghana has authorised a merger between Access Bank and Diamond Bank in Nigeria.

New rules to protect Kenyan Sacco members

Through a circular to the chief executives of DT-Saccos, seen by The EastAfrican, the industry regulator said the existing regulatory framework governing the operations of DT-Saccos is inadequate and has left customers exposed to market abuse.

Regulation,Tax & Compliance