Managers of Wealth Africa

BoG Partners With Development Bank Ghana To Study Innovative Financing For MSMEs

The ongoing reforms within the banking sector aim to create stable and profitable institutions capable of supporting the real sector and increasing lending.

Banks sell $172m as CBN, EFCC battle currency speculators

Banks sale of approximately $172m on Wednesday represents about 47 per cent increase from the $117m sold on Tuesday.

Access to beneficial ownership information in Kenya: Private companies

To operationalise this requirement, the Attorney General published the Companies (Beneficial Ownership Information) Regulations on 18 February 2020

Non-Remittance: EcoBank, Access Bank, two others grilled by HoR over N11.632trn revenue collections

According to the records, “Access Bank collected a total sum of N2.661 trillion for 3,502,486 transactions between 2015 and 2022.

4 new bills passed by parliament – with big changes for pensions in South Africa

The Revenue Laws Amendment Bill aims to change the retirement fund system in South Africa, particularly with the introduction of a two-pot retirement system.

Central Bank Hosts Inaugural Monetary Policy Strategy Session

The Monetary Policy Strategy Session provided a platform for robust discussions on the past, present, and future of monetary policy in Namibia.

Gauteng plots its move away from Eskom

“We will continue to expand to 300MW in the new financial year,” said Lesufi.

Tough CMA terms for bond issuers

The minimum size of the bond issue shall be fixed at Sh400 million, with the minimum subscription set at Sh10,000 or such higher amount as the regulator may prescribe from time to time.

State-owned bank a step closer after Ramaphosa signs Postbank Amendment Act

In the context of South Africa, this includes reaching those segments of society who are historically excluded from the formal financial sector as well as those who underutilise financial products and services.

BoG introduces additional measures to tame inflation

Inflation continue to decline and currently at 35.2 per cent after peaking at 54.2 per cent in last year December.

Fidelity Bank extends employment contract of its GMD/CEO, Onyeali-Ikpe

The Board noted that it is confident that the Bank’s performance will continue its upward trajectory under Dr. Nneka Onyeali-Ikpe’s leadership

Kenya moves to regulate Bitcoin trade on grey listing risk

The platforms allow traders to transact directly with one another without the need for a centralised third party to facilitate the transactions.

New policy signals higher charges for public services

In the first six months of this fiscal year, the National Treasury received Sh224.6 billion in non-tax revenues

30% of Africa’s sovereign reserves should be invested locally – Akufo-Addo

He pointed out that virtually all the countries held their reserves in foreign banks, which attracted largely negative rates of interest.

Get ready for South Africa’s new state-owned bank

The bank previously noted that when the new Act comes into law, it will start resubmitting and finalising its section 16 application

Moody’s sounds warning on Kenyan banks' defaults

Despite solid economic growth, an array of challenges will weigh on borrowers' creditworthiness and create difficult operating conditions for banks through 2024,” said Moody’s in its analysis.

Banks open loan restructuring as higher rates raise defaults

We are supporting our customers by way of restructures to align monthly repayment amount with their current (lower) income levels

Two sectors holding South Africa back from getting off the grey list – and time is running out

On a practical level, the impact is being felt with the European Union adding South Africa to a list of high-risk countries in May.

CBK rate rise dampens NSE prospects

The NSE All Share Index (Nasi) also closed Tuesday’s trading down a point from Tuesday last week with the NSE20 -index retreating by four points over the one week.

Citi and Standard Group warn Kenya on SHIF funding costs

Citi and Standard Group, the advisors on the redemption of Kenya’s debut Eurobond

Regulation,Tax & Compliance