Managers of Wealth Africa

IMF suggests safety net for SA’s banks

The International Monetary Fund has called on SA to introduce deposit insurance to provide a safety net for customers if their bank fails, and to protect the overall financial system.

GTBank clinches ‘Best Corporate Governance, Africa’ for 2015

The award is an acknowledgement of the bank’s strong corporate governance practices, commitment to high standards of ethical leadership and compliance with regulatory standards.

Experts Demand Thorough Investigation of Switch Failures in Banks

The Central Bank of Nigeria and Nigeria Inter-Bank Settlement System have been called upon to investigate the circumstances that led to switch failures from Automated Teller Machines of most banks during the Yuletide season.

South African regulator refers Ubank to tribunal for reckless lending

South Africa's credit regulator has referred small lender Ubank to a consumer tribunal, recommending it should be fined for reckless lending and forced to change its business practices.

Nigeria Central Bank Relaxes ‘Currency Crashing’ Trading Rules

Nigeria’s central bank loosened rules implemented last month on buying and selling foreign exchange that were blamed for crushing currency trading in Africa’s largest economy.

Nigeria: Money Laundering - Two Indian Firms Use Names of First Lady, Governors

The eight officials of the two firms (some of who are now at large) prepared cash vouchers for false returns to their parent companies in China between 2010 and 2013.

Bank Regulation In Nigeria

In the context of this paper, regulation means a body of specific rules or agreed behaviour, either imposed by some government or other external agencies or self-imposed by explicit or implicit agreement within the industry, that limits the activities and

Nigeria: Rapid expansion of SA banks in Africa may increase risk - IMF

The assessment is intended to help countries identify risks to the financial system and implement policies to deal with financial shocks and contagion

BOZ launches Islamic Finance Guidelines in Zambia and urges strict adherence to Sharia law

Dr.Gondwe said this will play a complementary and supportive role to the effectiveness of the supervisory oversight of the central bank in this emerging area in our financial system.

378 complaints against securities companies: FSA head

The paid-up value in companies’ establishment and capital increase for listed companies witnessed a growth rate of 5%.

Africa Urged to Develop Policies to Sustain Growth

The Senior Director of the Global Practice on Macroeconomics and Fiscal Management, World Bank, Marcelo Guigale has advised policy makers in the continent not to continue to rely heavily on commodities and higher rent activities, but rather to implement p

Chinese Bank to Lend West African Development Bank 125 Mln USD

The West African Development Bank is set to receive a loan of 100 million euros from the China Development Bank

Nigeria Investors Fear Being Able to Exit After Bank Clampdown

Foreign investors in Nigeria are concerned that measures taken by the central bank to prevent speculation against the falling naira will hinder their ability to sell investments in the country.

Ecobank boss calls for mergers and acquisitions of banks in Ghana

Chief Executive officer of the Ecobank group is pushing for more consolidations among banks in Ghana.

African Bank curators stall their listing of 'good bank'

African Bank curator Tom Winterboer has postponed the floating of the "good" bank on the JSE, although there is a time limit on the support he has from the central bank.

African Bank’s ‘good bank’ listing delayed to build up track record

The Reserve Bank placed the bank under curatorship to protect depositors and holders of the unsecured lender’s debt.

outh Africa: Investors dubious about bank law change

Investors in South African banks are growing increasingly concerned over proposed legislation stripping them of some rights as creditors, fallout from the August collapse of African Bank Investments.

African Bank Regulatory Fallout Fuels Investor Backlash

The demise of Abil, as the unsecured lender is known, has rippled through the nation’s markets

PwC pushes for FATCA implementation in Nigeria

PwC Nigeria, a leading professional services firm, has challenged financial institutions operating in Nigeria and the sector’s regulators on the need to develop a regulatory framework to drive the implementation of the Foreign Account Tax Compliance

Shadow Dancing With Debt - the Credit Ratings Agencies Must Be Reformed

South African economic prospects have recently been downgraded, yet again, by major credit ratings agencies.

Regulation,Tax & Compliance