Managers of Wealth Africa

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.

South African c.bank has no sway over Gupta account closures

Kganyago told a news conference he did not know the specific reasons for the banks' decision.

South Africa minister denies ‘espionage’ charges

It has been alleged that the Sars unit, which was established in 2007, illegally spied on senior officials.

Skye Bank achieves PCI payment security standards

Customers holding Skye Bank cards or other banks customers using any of our terminals can be rest assured of the security of our platform as it conforms to global standard of security.

Djibouti banking sector overhauled to improve efficiency

Djibouti’s banking regulator has unveiled a series of reforms that seek to improve the efficiency and health of the country’s lenders, and expand sharia-compliant financial services.

Islamic banking agitators want four laws reviewed

Islamic Banking is now ready to take off after the passing of the amended Financial Institutions Act 2004

Regulation,Tax & Compliance