Managers of Wealth Africa

Don't panic, Nigerian central bank governor says, as bank shake-out looms

If the naira falls far enough, it will force some banks to recapitalize to have enough naira to stay within financial stability limits.

France-Kenya Ties Growing

At a time when barbarity is blindly striking our countries, France stands alongside Kenya, just as Kenya stands alongside France.

Business must play a role in protecting country’s payment system: Reserve Bank

Groepe’s comments coincided with Pasa’s announcement of “a new standardised specification to facilitate biometric authentication on payment cards”.

CBK Proposes Three-Year Limit for Bank Auditors to Boost Governance

The impending rules come after external auditors were entangled in the collapse of three lenders, namely Dubai, Imperial and Chase banks.

Panama Papers: Offshore Firm Helped Billionaires Plunder Africa

The International Consortium of Investigative Journalists, which published the leak along with dozens of international media, found that 44 of 54 African countries have a total of at least 37 mining, oil and mineral companies connected to offshore account

Kenya’s central bank chief says inflation under control

Policymakers left the benchmark lending rate unchanged at 10.50 percent on Monday saying the pressure on inflation was temporary.

United Bank For Africa Denies Reports Linking It With Foiled Coup D'etat In Turkey

The statement said: "In light of this, we believe it is necessary to categorically state that UBA has no involvement in or connection to these accusations, which are clearly false.

Uganda Says May Start Islamic Micro-Finance Loans by Mid-2017

The Jeddah, Saudi Arabia-based Islamic Development Bank is funding experts from Bank of Khartoum to develop a framework for the implementation of Islamic micro-finance in Uganda, according to the agency.

CBN has no plan to Skye Bank

But will also provide assurance to the other banks to continue to deal with and trade with the bank’s instruments in the interbank market.

Stanbic receives Côte d’Ivoire banking licence

The country has one of sub-Saharan Africa’s fastest gross domestic product growth rates and expects to maintain growth of 7% or more over the next three years.

Third draft Financial Markets Act regulations released

The Third Draft Regulations are, together with pending legislation, aimed at progressing the financial sector reform strategy for South Africa.

Tanzania: NMB Bank Lists Over U.S.$18 Million On Dar es Salaam Bourse

Speaking during the listing ceremony held in Dar es Salaam last week, Permanent Secretary Ministry of Industry, Trade and Investment, Dr.Adelhelm Meru hailed the listing and urged other investors in the private sector to follow suit.

Proposed term limits for bank CEOs likely to shake Mwangi’s tenure at Equity

The regulator said it was drawing lessons from recent bank failures.

Riskier banks may pay more to deposit fund

The deposit insurance fund, managed by the now independent KDIC, stood at Sh6.2 billion against a Sh2.56 trillion deposit in March.

Banks to reveal owners, cap CEO tenures - CBK Governor

The move comes as the banking regulator moves to strengthen corporate governance within banking institutions as cases of poor financial practices emerge.

South African regulator confirms RDR shelved until next year

The final draft of the FSR included 14 proposals as part of the first phase of RDR

CBK to cap bank CEO tenures

This is part of CBK’s efforts to strengthen bank supervision.

South African deposit and refund scam warning

The first phase of Sabric’s Schemes and Scams Campaign focusses on the fraudulent change of bank account details scam, and deposit and refund scams.

Treasury simplifies tax amnesty draft

The amnesty comes ahead of the implementation in September 2017 of a new global agreement

Changes to special voluntary disclosure programme proposed

This initiative will make it much more difficult for taxpayers to hide assets in offshore jurisdictions.

Regulation,Tax & Compliance