Managers of Wealth Africa

Uganda taps into Islamic banking market with entry of Salaam Bank

The two countries are among a growing list of Sub-Saharan African states placing greater emphasis on Sharia-compliant financial products as alternative financing

IMF faces push to cut billions in fees for large borrowers

The IMF released a statement last week saying that ‘a number’ of its board members were open to reviewing policies around surcharges.

Absa CEO: Why sustainability is next frontier in driving lenders' bottom lines

The new requirement tasks firms to disclose their environmental, social, and governance (ESG) goals and communicate the company’s progress and efforts to reach those goals.

Forex losses hit currency dealers as CBN slashes BDC rate to N1,117.5/$

Analysts attribute naira appreciation to CBN policies

South Africa unlikely to be struck off greylist, says Nedbank CEO

Inclusion on the so-called greylist means financial transactions with a South African component are subject to enhanced due diligence.

Interest rates on Treasury bills drop first time in two years

Investors bid Sh28.4 billion for the three papers, representing a performance rate of 118.65 percent from the Sh24 billion on offer, with the Central Bank of Kenya (CBK) accepting Sh26.1 billion.

Microsoft faces CompCom complaint as cloud probes grow

Regulator to raise concerns over Azure’s switching costs.

Kenya set for Sh131 billion new IMF financing June

The disbursement awaiting both staff-level agreements and the nod from the IMF executive board is expected to be the largest access yet from the programme approved in 2021.

Sars follows the money

Targeting big-ticket taxpayers and their ‘trusted advisors’ in its efforts to be South Africa’s Robin Hood.

Ramaphosa signs off three new laws for South Africa

Despite signing the Bills, the President still has 23 Bills on his desk waiting to be signed, which have passed through the National Assembly and National Council of Provinces.

Discovery Bank issues fraud alert – scams to look out for in South Africa right now

The alert noted that the bank had flagged a spike in ATM fraud.

Single account nightmare for banks as State starts audit

According to the Treasury, public entities held more than 33,000 bank accounts locally as at January 2023.

Steady dollar supply pushes naira to 1,262/$

This means the local currency hasSteady dollar supply pushes naira to 1,262/$ continued its positive streak against the green with expectations of further appreciation.

Central Bank of Nigeria’s aggressive monetary policy tightening will boost foreign investment

Inflation is mainly as a result of excess liquidity in the system

Win for NSE as index provider lifts restrictions

In a statement issued on Tuesday, the NSE said the reclassification from a restricted market will boost inflows from foreign investors, who typically account for nearly 60 percent of daily turnover at the market.

Listed commercial banks may require combined investment to meet capital requirements in Nigeria

Among the tier-one banks listed, the United Bank of Africa is set to raise the largest sum

A further tightening stance by the MPC

The committee’s decision was also influenced by the need to stabilise the Naira.

South Africa requires comprehensive AI legislation – experts

“Regulating AI is… crucial in ensuring that AI achieves outcomes that are in the interests of society,” said the experts.

Kenya has tightened its laws to stop money laundering: why banks are the focus

Money gained illegally can be laundered by placing it into the financial system, through banks.

Yield-hungry investors to blame for Africa debt crisis

In cases of debt distress, preference has been how to save creditors.

Regulation,Tax & Compliance