Managers of Wealth Africa

African Bank’s Debt Holders Divided Over Changes to Legislation

The new company would then be able to obtain a banking license and start operating afresh.

CAR: CBN Extends Deadline for Systemically Important Banks

The eight financial institutions designated as SIBs by the central bank were required to hold more liquid assets

Namibia, Zim tops curbing money laundering

Namibia and Zimbabwe are the only two African countries to be removed from the international targeted review process of countries with shortcomings in their National Anti-Money Laundering and Combatting the Financing of Terrorism regulatory environment.

Tunisia Asks to Join HSBC Case to Get Embezzled Ben Ali Cash

Tunisia asked to join the Geneva prosecutor’s money-laundering case into HSBC Holdings Plc’s Swiss unit as a plaintiff in a bid to get back funds it says were embezzled by former dictator Zine El Abidine Ben Ali.

African Development Bank Group Executive Directors On Impact Mission to Mozambique

A delegation of African Development Bank Group Executive Directors is preparing to travel to Mozambique to assess the impact of Bank projects in the country

Bank Law Change Defended by South Africa Treasury Amid Criticism

The government says the law needs to be amended to facilitate African Bank’s restructuring and safeguard about 5,000 jobs

South Africa: Hedge Funds Now Regulated As Collective Investment Schemes

The licensing requirements under the Financial Advisory and Intermediary Act relating to the hedge fund financial services providers who manage hedge fund portfolios remain unchanged.

Tighter regulation for hedge funds

Hedge funds, which manage assets of more than R57 billion, mainly from retirement funds, will have to register as collective investment schemes by the end of March next year

Somalia: The World Bank Increased compliance with regulatory standards to unlock investments

The IMF formally recognised the establishment of a federal government in Somalia in April 2013 as the country emerged from a long period of civil war.

PAC wants offshore accounts holders exposed

The findings follow a massive cache of leaked data that revealed how the Swiss banking arm of HSBC, the world’s secondlargest bank, helped wealthy customers conceal billions of dollars of assets.

South Africa govt says making "good progress" in African Bank's rescue

The bank is awaiting passage of amendments on a law granting the central bank super-senior creditor status, which would allow it to pump in some money into the failed lender.

Banks to lose N558bn on MDAs’ fund transfer

The TSA policy translates to a significant decline in banks’ deposit, which is also expected to constrain banks’ ability to grow credit in the economy.

Another Knock For Ecobank

Though not unexpected, the SEC’s report eventually set off series of internal infighting

SADC central banks complete interconnection of ICT systems

The network of the banking technological information of the Southern African Development Community (SADC) member states is already interconnected

Nigeria is Ecobank’s biggest operation – bank chief

Ecobank’s Group Chief Executive Officer Albert Essien says Nigeria is the bank’s biggest operation and that the current economic and currency headwinds in Nigeria have not affected his company immensely.

Access Bank Extends N52.6bn Rights Issue by Two Weeks

Access Bank embarked on the capital raising via the right issue to raise N52.6 billion.

IMF highlights role of Bank Al-Maghrib in Morocco

The International Monetary Fund (IMF) has welcomed Bank Al-Maghrib’s (BAM) efforts to strengthen Morocco’s financial supervisory and regulatory framework to ensure continued financial sector soundness

Nigeria central bank sets guidelines for Islamic finance advisory body

Nigeria's central bank has issued guidelines for an advisory body that will oversee Islamic banking in the country

Deutsche Bank Fined $857,000 in South Africa for Rules Breaches

The central bank, which also acts as the country’s bank supervisor, cited “deficiencies” in how Frankfurt-based Deutsche Bank identified and verified customer details, according to a statement on the South African Reserve Bank’s we

Central Bank of Nigeria shuts down its official FX window due to volatility

The Apex Bank noted that the wide gap between the official and interbank value of the naira had engendered undesirable practices

Regulation,Tax & Compliance