Managers of Wealth Africa

Grand Inga dreams fail to see the light of day

Politics and finance seem to be the reasons for the bulldozers’ no-show at the site on the Congo River.

Nigeria is running out of cash

Another day, another oil producer in trouble.

Distressed Nigeria turns to multilateral lenders for $3.5 billion in ‘soft’ loans

Africa’s biggest economy in talks with World Bank, AfDB as seeks to spend way out of economic crisis—a hint of Keynesian economics.

Central Bank’s new tough rules to monitor large cash transactions

CBK has a game plan of curbing money laundering, taming fraudulent money movements, while zeroing in on those financing corruption, criminal and terrorism activities.

Capital controls are necessary, says Fidelity MD

Okonkwo noted that the current fiscal year may get tougher, with the prospect that oil price may drop further.

Kenya: We Must Look Beyond Liquidation to Help Commercial Banks in Problems

Yet, we all know that when it comes to Imperial Bank, the governor can hardly assume the moral high ground.

After Ivory Coast sukuk, West Africa bloc signs SME fund deal

The Jeddah-based Islamic Corporation for the Development of the Private Sector will commit an intial $30 million for the SME fund and would help seek additional investors to increase its size to $100 million, a joint statement said.

Egypt's National Bank applies for Yuan licence

National Bank of Egypt, the country's largest state bank, is seeking a licence to conduct local-currency banking in mainland China, through its Shanghai branch.

FirstRand Says Gordhan in Strong Position to Act on Economy

The market reaction to Nene’s dismissal, with the rand and bonds tumbling, may deter the government from taking unexpected steps that affect the national treasury.

Angola: The Fate of Portugal's BPI Bank Lies With Africa's Richest Woman

In the first six months of 2015, BFA operations made up 70% of BPI profits.

Mid-size SA bank successfully deploys FICO-TONBELLER anti-money laundering system through Bateleur Software

A bank spokesperson says: "Regulatory compliance and anti-money laundering and risk management are top imperatives for [the bank].

Namibia: Only Banks Win Under New Investment Regulations

Last year, Regulation 29 was finally promulgated as a subset of Regulations 15 and 28

Stanbic fined over improper deal

The law requires the bank to file its defence in 20 days and if the Central Bank is not satisfied, then Stanbic Bank Tanzania will be compelled to pay the fine

Two major banks mulling listing on Egypt bourse: c.bank chief

Egypt's central bank is considering listing shares in two major banks on Cairo bourse, chief Tarek Amer announced Tuesday.

AfDB adopts new due diligence policy on non-sovereign operations

The Board of Directors of the African Development Bank Group, met on 13 January 2016 to approve the Integrity Due Diligence Policy on non-sovereign operations.

Kenya: Imperial Bank Cries Foul Over Client Loss

Owners say they were kept in the dark over the regulator's decision to disburse Sh8 billion through Kenya Commercial Bank and Diamond Trust Bank late last year.

Nigeria: experts laud apex bank over new forex rules

According to him, the country could not afford to remain in the current situation

Reckless Zimbabwean bank executives face lengthy jail terms

In the past three years, banks such as AfrAsia, Genesis and Allied Bank have folded, leaving depositors stranded.

Ghana: Bank of Ghana to Improve Surveillance of Micro-Finance Landscape - Deputy Governor

The Bank of Ghana is to intensify its intelligence network and review the entire process of licensing new Microfinance Institutions to improve surveillance of the micro-finance landscape.

Uganda: How Amended Financial Law Could Revolutionise Banking

The much-awaited reforms, expected to boost operations of banks in the country, were passed by the Parliament last Wednesday.

Regulation,Tax & Compliance