Managers of Wealth Africa

South African Central Bank to Look at Regulating Crypto

The country may also issue a central bank digital currency.

AfDB Approves €87 million Loan To Expand Social Coverage in Morocco

Over the past years, Morocco has worked to integrate workers into the formal economy to generalize social protection benefits.

Standard Bank drops mandatory Covid vaccines in South Africa – as new CCMA ruling calls them ‘unconstitutional’

In an emailed statement, the bank said it took a range of factors into account in reviewing its policy, including recent regulatory developments, the current state of the pandemic in South Africa, and the high vaccination rate amongst its employees.

DBN to address MSMEs’ financing constraints

“With a total of about 17.4 million, they account for about 50 per cent of industrial jobs and nearly 90 per cent of the manufacturing sector.”

Strict transformation rules coming for lawyers and other jobs in South Africa

The government is also expected to conclude the legislative process for the Employment Equity Amendment Bill in September 2022, in what is expected to be the vanguard of a new transformation push for the country.

Finance Ministers, Central Bank Governors Seek IMF, W’Bank’s Rapid Debt Relief for Africa

This year’s African Caucus held under the theme, “Towards a Resilient Africa,” and called for a rapid implementation of the commitment made at the G7 Summit in June 2022

Central Bank Governors, Finance Ministers Beg Again For Africa’s Debt Relief

Morocco is chair of the Caucus

Central Bank Governors, Finance Ministers Beg Again For Africa’s Debt Relief

It should be noted that the call for debt relief for Africa did not start today as exemplified by the call last year made by the President of African Development Bank, Dr Akinwumi Adesina.

Bank Raises Prime Lending Rate to 11.96% on Inflation, Hike in MPR

The prime rate is the interest rate that banks charge their most creditworthy customers, generally large corporations.

Lawyers Ask Court to Nullify Acquisition of Union Bank by Titan Trust Bank

In the suit, Mekwunye, also a Union Bank shareholder, had contended that Union Bank’s sales to Titan Trust Bank by Union Global Partners and Atlas Mara Ltd did not follow extant laws of Nigeria regulating such transactions.

Standard Bank warns of new tax scam targeting customers

Keep your login details, passwords or account information private.

Zimbabwe to mint gold coins to tackle rising prices

The statement also said each coin will be identified with a serial number and can be easily converted to cash, locally and internationally.

TAJBank targets banking licence

One of the major objectives now is to secure a national banking license in order to transform TAJBank into an industry leader.

The FSCA is working on reforming legislation ahead of the anticipated COFI Bill

According to the regulation plan, the FSCA is developing a conduct regulatory framework to be implemented under the COFI Bill, once the COFI Bill is enacted.

New pension fund regulations for South Africa – what you need to know

“The aim of the amendment is to explicitly enable and reference longer-term infrastructure investment by retirement funds, by increasing maximum limits that funds may invest in,”

Banks’ Borrowing from CBN Decline by 42% in H1 on MPR Hike, Others

Analysts stated that the improved business activities post-covid-19 paved the way for banks and merchant banks to halt borrowing from the CBN.

Focus on Central Bank of Kenya's new plan to combat loan sharks

Some of these lenders even specialise in rights/privacy violations such as harassing the friends and families of debtors.

Penalise any bank caught violating consumer rights

Findings of a two-year study by the UK-funded NGO FSD Kenya showed that bank pricing data was difficult to obtain and that market information was still opaque.

Somalia licences first two foreign banks since 1970

So far, the Central Bank of Somalia has licensed 13 locally owned commercial banks, among them Salaam Somali Bank and Dahabshil Bank.

CBK set to spy on lenders defying consumer rights

Banks that break the rules risk withdrawal of licenses, directors’ ousters, and a Sh5 million fine while workers in violation face a Sh200,000 penalty.

Regulation,Tax & Compliance