Managers of Wealth Africa

SA hedge fund regulations published

Hedge funds are pooled investment schemes supervised by a professional management firm, investing in a wide range of markets and using a variety of investment styles and financial instruments.

Reserve Bank fines banks over lack of effective anti-money laundering measures

Standard Bank was found to have failed to meet its obligations

South Africa’s Biggest Banks Fined in Money-Laundering Probe

The seven-member FTSE/JSE Africa Banks Index declined 0.5 percent

Zenith Bank issues $500m Eurobond at 6.5 percent yield

The yield at inception was 6.5 percent, slightly below the high 6 percent area initially announced, and the equivalent spread over UST of 485 basis points bps.

GT Bank boss rules out possible shock in banking sector 2014, targets 10% of profit from subsidiaries

He made his projection based on the choice of the new CBN boss, the chief executive of Zenith Bank, a colleague who he said has a good understanding of the state of the sector.

Egypt’s central bank bans dealings with Sudanese banks

Egyptian banks are refusing to receive wire transfers from Sudanese and Libyan companies in line with instructions issued by the Central Bank of Egypt

CBN Clears Former Bank Chief

Obigwe, who was cleared last week, had been waiting since 2009 for the central bank to give him a clean bill of health.

World's Largest Investors Engage Stock Exchanges on Sustainability Reporting Standard for Companies

Sustainability advocacy group Ceres, in collaboration with BlackRock and other major institutional investors across the globe, announced an initiative to engage global stock exchanges, via the World Federation of Exchanges, on a uniform standard for susta

Zimbabwe issues $103bn treasury bills to seven banks

Zimbabwe has issued $103m of Treasury bills to seven banks as the government repays debt stemming from the central bank’s seizure of foreign-currency accounts

Old ways clash with governance rules in a new Africa

Arnold Ekpe, former CEO of West African banking group Ecobank, once said African-owned companies had an advantage in African markets, particularly the difficult and high-risk ones, because they came from risky markets and understood the challenges and kne

Mauritius c.bank slams "foot-dragging" on Islamic finance, other reforms

This is in line with the Mauritius central bank's role as a founding member of the Malaysia-based International Islamic Liquidity Management Corp, a body backed by central banks from the Middle East, Asia and Africa.

Challenges of Incubating Best Practice in Africa

The meeting, which was ordered by the Nigerian Securities and Exchange Commission, is on the heels of the recent crisis on the bank’s board.

Sudan: Saudi Arabian Banks Suspend Sudan Transactions

Saudi Arabia and some European banks will halt their transactions with Sudanese banks from 28 February onwards

Ghana's central bank separates outward payments in new foreign exchange directives

Ghana's central bank has separated certain categories of Outward Payments in its new directives concerning the Foreign Exchange operations in the country.

Experts set to draft rules for hedge funds

The protracted process of drawing up regulations for the entire hedge fund industry, which commenced in 2012 on the recommendation of the Group of 20 following the 2008 financial global financial crisis, is drawing to a close, with the Treasury looking to

Regulation,Tax & Compliance