Managers of Wealth Africa

Bank charges hit right note but . . .

Point-of-sale transactions for amounts of $10 or less now attract a fee of 10 cents while those above that threshold will attract a fee of 45 cents.

Recapitalisation, mergers loom in banking sector

This was after the IMF directed the BoG to conduct the test after an assessment of the Ghanaian economy.

FirstBank, Zenith, UBA, GTB okay as FX dealers

Additional requirements may include capital adequacy ratios and historical volume of bids recorded in the CBN weekly forex market regime due to be phased out today.

Evidence that TSA has hurt instead of helping Nigerians

It’s simply, in part due to the introduction of the Treasury Single Account,TSA by the current regime.

CBN to release flexible exchange rate policy today

Experts and stakeholders believe a flexible exchange rate policy is the right way to go for the country.

S. Africa Regulators Said to Query Baroda Bank Over Guptas

The regulators are asking questions regarding deposits and bank accounts Gupta family businesses hold at Baroda and are not implying the bank violated any rules in any way

Nigeria Central Bank Said to Weigh Dual Exchange-Rate System

The central bank is still working out details of the system, the person said, and may also reinstate a minimum holding period for foreign investors buying naira bonds.

FNB to send alerts for all new debit orders

In a move to crack down on debit order fraud.

Bank of Ghana to review Mobile money regulations in July

So when the time comes we would expect that all stakeholders make an input to improve the existing guidelines

Kenya Treasury wants minimum bank capital raised

Tanzania and Uganda have already increased the minimum core capital for their banks by 200 per cent and 150 per cent respectively.

Experts hail tax amnesty on offshore income

This will enable the taxman to collect information in advance, from “identified persons” for purposes of repopulating the information in the iTax System.

Treasury proposes tough measures for banking sector

Last year, his proposals were thwarted by Parliament, but he is betting on Chase Bank, Imperial Bank and Dubai Bank failures to win the support of the House.

Nigeria’s rigidity over forex dents global bond ambitions

Investors who met country’s finance minister this week remain unhappy with currency regime

Credit regulator’s shocking silence on reckless lending at African Bank

The report, which was led by advocate John Myburgh SC and investigates the circumstances that led to the curatorship of African Bank, finds that the bank’s risk appetite was “higher” than peer banks.

How African Bank’s R300m fine became a R20m settlement

The Myburgh Report strongly suggests interference by the South African Reserve Bank.

Govt Forces Companies to Bank Cash

In addition, the central bank will import at least US$10 million weekly and enforce the Bank Use Promotion and Suppression of Money Laundering Act.

Kenya: CMA Goes After Imperial Bank Bosses As CBK Flexes Its Muscles

CBK says the days of internal fraud in the banking sector with directors getting away scot free must end.

Morocco aims for flexible currency system in early 2017 - c.bank gov

Jouahri said that the country would be working with a technical mission from the International Monetary Fund during the second half of this year as part of introducing the currency move.

Mammoth exchanges challenge JSE’s future

The rationale for the merger is, essentially, to create a bigger, better and more liquid market that can offer more diverse products to its many different customers.

Ghana seeks private bank loan, and Nigeria mulls Eurobond as cash dries up and budget gap swells

Ghana is seeking a syndicated loan to reduce budget deficit, while tapping the offshore bond market this year is crucial for Nigeria

Regulation,Tax & Compliance