Managers of Wealth Africa

Kenya central bank to extend receivership of Imperial Bank, licenses new bank

The central bank gave no reason for the suspension of licensing, but it came after it had placed Imperial Bank under receivership in October 2015

Central Bank moves to fight rising cybercrime in Kenya

According to the document, all board of directors and senior management of banks will be expected to formulate and implement Cyber Risk strategies, policy, procedures and guidelines and set minimum standards for the institution.

IMF warns Kenya of loopholes in Islamic banking regulation

Banks with Islamic windows are also not segregating Islamic deposits from other funds, says the IMF.

Commendation to DMO on the Proposed Federal Government of Nigeria Sukuk Debt Issuance

Sukuk, the non-interest equivalent of bonds, is becoming increasingly attractive as a preferred option for funding infrastructure development and indeed economic growth across the globe.

Corruption watchdog's attack on central bank stuns South Africa

Currency and bond markets reacted sharply to the watchdog's comments

As CBN plans to lift embargo, banks go for dollar loans, bonds

It was learnt that the banks were working on expression of intention by the CBN to lift the ban in going for transactions.

South African rand slides on fears for central bank independence

A report from anti-corruption watchdog raises fears controlling inflation could no longer be a priority

South Africa: Government Allowed to Recover R1.125bn From Absa

The public protector report found that the failure by government and the Reserve Bank was inconsistent with the Constitution and it constitutes improper conduct and maladministration.

Effect of policy rate cut by BoG on banking industry

The policy rate increases, the cost of borrowing becomes higher for commercial banks, and vice-versa as the policy rate falls.

South African Reserve Bank says platinum coin concept not viable

The concept of a platinum coin fell short primarily owing to the modest size of the global market for such coins, which the SARB estimates at only 50 000 oz/y.

Zimbabwe central bank says Barclays deal complies with indigenization policy

Zimbabwe's indigenization policy stipulates that foreigners must own a maximum of 49 percent of shareholding in a company while the majority 51 percent is reserved for locals.

Botswana determined to become investor friendly – Minister

His Ministry was reviewing all the legislation and policies to ensure that they were conducive to sustainable mineral exploration, mining and energy development.

Dubai Islamic Bank bets on East Africa for growth

The only licensed Sharia’h complaint banks in Kenya, conventional banks also operating Sharia’h compliant services.

South Africa's central bank wary of cutting rates despite recession: policymaker

We would not want to reduce rates and then be forced into a premature reversal of policy.

Federal Republic of Nigeria to Issue Diaspora Bond

The bonds will be direct, general obligations of Nigeria, denominated in U.S. Dollars.

Global transparency

In recent years, significant changes in global finance regulations mean that every investor should re-examine their personal need for such offshore structures.

New reporting requirements for SA financial institutions

The common reporting standard requires financial institutions to report on their foreign customer base, not just US customers.

Financial Investor urges review of Contributory Pension Scheme

The question is; what will the workers get at the end of the day?

Bank of Ghana suspends issuance of licences to microfinance companies

The BoG had revoked the provisional licences of 70 microfinance institutions, leading to panic withdrawals by some clients.

Deposits insurance plan on track

The scheme aims to protect ‘less financially sophisticated depositors in the event of bank failure’

Regulation,Tax & Compliance