Managers of Wealth Africa

Deadline looms for Ithala Bank as it faces challenges to acquire a permanent banking licence

The bank has been struggling for about 10 years to obtain a permanent banking licence and as a result,

KDIC pays Sh200m to depositors of three collapsed banks

Creditors of Euro bank, Kenya Finance Bank and Dubai Bank which are currently in liquidation will receive funds over a one year period.

Ecobank gets punished by Central Bank of Kenya for breaching forex regulation

The Central Bank of Kenya said in a press statement on Monday that Ecobank Kenya Limited breached this rule.

Kenya's central bank temporarily blocks Ecobank from FX trading

Ecobank was required to put in place remedies to the lapses that were identified by an investigation

S.Africa's rand pulls back as dollar firms, markets slightly down

"By far, inflation is still a bigger concern for the stock market than the Russia-Ukraine war," said Wayne McCurrie, portfolio manager with FNB.

Eyes on Ethiopia as Government Embarks on Liberalizing the Banking Sector

Ethiopia, whose economy grew by at an average rate of 10% before the pandemic in 2020, has had its market coveted by leading firms across the continent and region, but the government has always been keen on protecting the market for local growth.

Nigeria: Labour Picks Hole in Ongoing Amendment of Assets Declaration Law

Another contradiction in the act was the definition of outsourced workers in the bank as employees of banks.

Kenya to receive millions seized in Jersey to help fight Covid

When it came to splitting up their assets, Ms Njeri felt she was not getting her fair share.

Microsoft: We addressed allegations of bribes in Africa, Middle East

"We believe we've previously investigated these allegations, which are many years old, and addressed them."

SA Reserve Bank Needs a More Balanced Monetary Policy Perspective

According to Sarb's projections, the country's consumer price index (CPI) will rise to 5.8% this year and then decline to 4.6% in 2023.

AfDB approves new strategy for addressing fragility in Africa

The COVID-19 pandemic and the effects of climate change have further underscored that fragility can arise in any context.

South African Reserve Bank hikes rates

The MPC will seek to look through temporary price shocks and focus on potential second-round effects and the risks of de-anchoring inflation expectations, Kganyago said.

Godongwana rules out creation of a new state bank

African Bank Investments Ltd, went into administration in 2014.

Demystifying the Mauritius Trust: Insight, Concept and Residency

Mauritius Trusts are governed by the Trust Act 2001 which lays out the regulations relating to the creation and administration of Trusts on the island.

Morocco’s central bank holds benchmark interest rate at 1.5%

The bank revised down its 2022 growth forecast to 0.7%

New legislation could limit the number of foreign nationals employed in South Africa

The addition of this provision appears to be aimed at ensuring that the amended ESA applies to workers who are employed through digital platforms, such as Uber and Bolt drivers.

Ethiopia moves to allow entry of Kenyan banks

Business Daily learnt that the committee’s work plan states the first draft of the financial services code must be ready by December 2022.

CBN forecasts 3.24% growth in 2022 despite rising inflation

The CBN Governor condemned the rate of oil theft recorded in recent times, which had a debilitating impact on government revenue.

South Africa's central bank to IPO its stake in African Bank

A surge in market volatility in recent weeks due to the Russia-Ukraine crisis has forced several companies to delay their market debuts.

Central banks, BIS team up on digital-currency payments

This has the potential to reduce reliance on intermediaries and, correspondingly, the costs and time taken to process cross-border transactions.

Regulation,Tax & Compliance