Managers of Wealth Africa

CBK warns banks against changing customer deposit accounts

Banks had moved to reclassify deposit accounts to avoid paying the huge interest that would have accrued with the change in the law.

Banks face CBK wrath for increasing charges

Besides regulatory approval, the banks should explain to their clients the reasons for varying charges or terms and conditions in the existing contracts

BGFI Bank chooses Wolters Kluwer for regulatory reporting

Other banks that have recently signed up to use OneSumX include Banco Santander, Taiwan Business Bank, Bank BGŻ BNP Paribas and Sberbank.

FSB fines Lion of Africa and Sanlam

The FSB says the parties agreed on a penalty of R10 000.

CBK demands Sh45 billion refund from Imperial Bank

The CBK says fraud by Imperial Bank directors has caused instability in the banking sector and subjected customers to stress and hardship brought about by loss of their deposits.

Performance fee loophole closed on tax-free savings

Performance fees may not be charged in TFSAs nor in any of the underlying funds in which the TFSAs are invested

CBN Sets New Standard For Banks On Compliance

CBN set a new qualification standard for the Banks in their appointment of people into the position in line with its decision to enhance minimum qualification for the position

Banks Decide New Minimum Capital

The Bank of Ghana, in March 2003, raised the capital levels of banks to GH¢7.0 million.

CBK says foreign banks targeting local market despite new rate cap

A return on equity of 30 per cent indicates that an investor is likely to recoup their equity input in just over three years.

Commercial Bank of Africa insists M-Shwari is not subject to new laws

The Commercial Bank of Africa maintained its M-Shwari product is not developed on an interest model and is therefore exempted from the new banking law that caps interest rates. According to CBA CEO Isaac Awuondo, though its product fully complied by the

Bank Of Ghana Maintains Policy Rate At 26 Percent

The upside risks to the inflation outlook are the unanticipated shocks, especially with regard to the intermittent upward adjustments in petroleum and utility prices.

Nigeria: How We Got Into Trouble - Central Bank

Political tension between Iran and Saudi Arabia trying to play their game as usual; and of course the US Fed's actions since 2009.

First Bank denies violating FG directive on TSA

But FBN denied any wrongdoing, stating that the account was operated in line with regulatory requirements.

African central banks under attack

Political and economic pressure is mounting in South Africa the economy is set to expand at the slowest pace

Politicians in Africa’s Key Economies Aim at Central Banks

Political and economic pressure is mounting in South Africa, where the ANC will elect new leaders in December 2017

Treasury to meet with US investors next month

The goal of the investor conference is to engage US-based investors making it clear that South Africa is open for business

Monetary Policy and the Future of Central Banking: Implications for Africa

In addressing these challenges monetary policy has a central role to play.

Orange gets African licences for e-money

Each licensed electronic money service is an autonomous subsidiary controlled by the local telecoms operator, said Orange.

CBK denies investment group licence to run microfinance bank

CBK in mid-2014 issued a temporary approval to FEP to set up Fountain Microfinance Bank, pending vetting to establish capital adequacy, ownership, and suitability of directors to run a banking business.

Zuma weighs objection to law on bank transactions

Barclays Africa, FirstRand, Standard Bank and Nedbank all said they would shut accounts related to the companies of the Gupta family

Regulation,Tax & Compliance