Managers of Wealth Africa

Andrew Canter unpacks the future of banking in SA and how it will affect you

In this country, Abil no doubt, has had an influence, too.

Mauritius' KPMG tasked with restructuring BMIO, Seychelles Central Bank has announced

Work has started to implement the restructuring process of the Bank of Muscat International Offshore in Seychelles announced by the Central Bank of Seychelles in December last year.

RBZ to clean up banking sector by June

THE Reserve Bank of Zimbabwe (RBZ) has set an ambitious target to have a financial services sector that has no distressed banks by the first half of this year

South African institutions being eroded, Standard Bank says

Recent developments at the South African Revenue Service, which had been one of the government’s strongest institutions, are particularly concerning, Ballim told reporters in Johannesburg on Tuesday.

Ecobank clarifies IMF publication on its financial stability

Ecobank is compliant with regulatory requirements, including those for liquidity and capital

Zimbabwe's central bank takes over $65 mln in bad loans from banks

Mangudya said the central bank had also set aside $50 million to invest in gold production

Sanusi lauds UBA’s leadership role in the banking reforms

The Emir also praised UBA for offering him a job

Regulatory change driving banking agenda – S&P

Low growth, business confidence the ‘new normal’.

Files point to $182mn Halliburton bribery scandal in Nigeria

A network of secretive banks and offshore tax havens was used to funnel US$182mn in bribes to Nigerian officials in exchange for US$6bn in engineering and construction work for an international consortium of companies that included a then Halliburton subs

Cannon Asset Managers: Making cents of SA’s trade balance

It is expected to take more than 5 000MW out of service on planned maintenance, which will likely hurt local businesses.

Ecobank rubbishes IMF report

The IMF fears ‘Ecobank’s Nigerian subsidiary in particular is plagued by “poor governance, questionable transactions and an unsustainable operation model.”

Kenyan Banks Demand The Most Collateral In Africa

Kenya has one of the most rigid collateral requirements of six emerging markets surveyed by the a team of the International Monetary Fund (IMF), and demands the most collateral of the African countries

Ecobank considers HQ move after Togo ruling

Ecobank disputes the jurisdiction of both the Togolese and Ivorian courts over the cases, and has appealed against both decisions.

Africa: Civil Society Organizations Across Africa Welcome AU Focus On Illicit Financial Flows

Civil society organizations call for African leaders to move quickly to implement recommendations in UNECA report on Illicit Financial Flows

SEC Approves N52.6 Billion Access Bank Rights Issue

The capital raising falls in line with Access Bank's five-year corporate strategy plan to be one of the top three banks in the country and the "world's most respected African bank".

CBN issues directive on two factor authentication for internal banking processes

The Central Bank of Nigeria has issued a directive requiring all deposit money banks to implement two factor authentication for internal processes this year.

Ecobank to comply with Ivorian order in defamation case

The order stems from a suit brought by Tanoh concerning events

Zimbabwe compliant with global standards on curbing illicit finance flows — Chinamasa

Finance Minister Patrick Chinamasa said he was confident that Zimbabwe complies with international standards set by the Financial Action Task Force (FATF) to curb the illicit flow of money.

Nigeria Eases FX Trading Rules as JPMorgan Review Looms

Nigeria eased curbs on foreign-exchange trading less than a week after JPMorgan Chase & Co. said it may remove the country’s debt from some indexes because of a liquidity crunch.

IMF suggests safety net for SA’s banks

The International Monetary Fund has called on SA to introduce deposit insurance to provide a safety net for customers if their bank fails, and to protect the overall financial system.

Regulation,Tax & Compliance