Managers of Wealth Africa

Mammoth exchanges challenge JSE’s future

The rationale for the merger is, essentially, to create a bigger, better and more liquid market that can offer more diverse products to its many different customers.

Ghana seeks private bank loan, and Nigeria mulls Eurobond as cash dries up and budget gap swells

Ghana is seeking a syndicated loan to reduce budget deficit, while tapping the offshore bond market this year is crucial for Nigeria

Kenya: Proposed Bank to Cater for Start-Ups

"We are looking at something like the United States Small Business Act," he added.

Central Bank of Kenya turns down seven takeover bids for Dubai Bank

The Central Bank of Kenya has turned away seven proposals from local and foreign based interests looking to revive Dubai Bank.

Local banks predicted to resist mergers

The comment comes amidst widely held belief that Kenya is overbanked and the market is ripe for mergers and acquisitions.

Banking stocks tumble as investors lose N684b in 10hrs

“We expect the current bearish trend in the market to continue as investors take profit following the impressive gains recorded in the previous week.

Kenyan Regulator Rejects Takeover Bids By Seven Dubai Bank Suitors

The High Court last November ordered the industry regulator to consider proposals by investors to rescue the lender

Ghana’s Regulator Orders Investor Refund in Biggest IPO

The lender informed the regulator of its intention to reopen the share sale, the SEC said.

Zimbabwean banks forced to limit cash withdrawals

Zimbabwe, with no currency of its own, uses mainly dollars, with the euro and rand among banknotes that are also legal tender.

Zimbabwe: Trust Bank Placed Under Final Liquidation

In January 2014, the Deposit Protection Corporation announced it was instituting liquidation processes following the cancellation of its license

Alleged MMM Ponzi scheme could be more widespread

The Hawks are investigating the scheme after the commission referred complaints against the scheme to them.

Capitec shuts down thousands of MMM accounts

Over 2000 accounts linked to MMM have been shut down

RBA mulls pension scheme consolidation

By December 2015, pension savings stood at Sh814 billion according to data from the Retirements Benefit Authority.

Mauritius: a tried, tested and trusted International Financial Centre

Mauritius is not a tax haven; it is a low-tax jurisdiction that also offers a low taxation platform for international business.

Saccos set for integration into the mainstream of financial service providers

The CLF would give Saccos an equivalent of the clearing house run by the Kenya Bankers’ Association, which nets off obligations between banks both in the interbank market and in clearing of cheques.

South Africa's Standard Bank taking action after ATM heist in Japan

Card fraud remains a high priority, he said, adding that the bank had "frustrated a very large amount of fraud last year and the year before."

CBK boss Njoroge named best Central Bank governor in Africa

The AfDB termed him an exceptional leader.

More oversight after African Bank saga

"Yes we must tighten our fit and proper tests, and we have done," Naidoo said.

Capitec, Deutsche Bank hit with R15 million fine

In the case of Capitec and Deutsche Bank, SARB nailed the banks with a R5 million and R10 million fine, respectively, for failing to comply with the Act.

SARB warning on MMM and other dodgy schemeson.

Generally, illegal schemes are only reported by investors when they fail to receive their promised returns,” SARB said.

Regulation,Tax & Compliance