Managers of Wealth Africa

Nigeria, Gambia oil firm sign pact to explore, develop crude oil

The agreement will see the two companies jointly explore and evaluate potential oil resources in Gambia

World Bank clout rises as China cuts Kenya loans

The multilateral institutions have forked out billions of ‘rescue loans’ to Kenya, pushing their share of debt by more than a third to $17.9 billion

Ethiopia eyes Sh19bn fee for M-Pesa entry

An investment protection fee is the amount paid by foreigners to invest in businesses exclusively reserved for domestic investors or the government.

KCB sets up special team to recover bad loans

“Relationship teams are designed to grow business, they are not necessarily competent in matters regarding recoveries, restructuring and nursing struggling borrowers,” Mr Russo said.

Saint Kitts and Nevis First CARICOM Nation to Sign Agreement with AFreximbank

The Caribbean Community (CARICOM) represents one of the largest African Diaspora regions.

Rising revenue collection but still inadequate

Although the figure represents the highest level of revenue receipts in recent times, it falls short of the pro-rata budget benchmark of NGN4.7trn.

Politician to seize NBK’s Sh2.5bn in Central Bank

Attempts by NBK to appeal the decision at the Supreme Court were dismissed in December.

South Africa is falling apart

South Africa is currently in the grip of its worst-ever power cuts, while coal exports fell to a 30-year low in 2022 because of the poor performance of the national freight rail company.

I&M waives bank to mobile fees permanently

The CBK had temporarily stopped the charges from mid-March 2020 in a bid to lower the risk of Covid-19 infections by encouraging cashless transactions but reinstated the charges in January.

IMF Resident Advisor assigned to BoG to provide technical assistance

The Bank of Ghana notes that the Advisor will support the implementation of Pillar 2 and 3 of the Basel II/ III capital frameworks

ZAR X exchange licence cancelled

In line with the sector’s regulations, ZAR X is now required to immediately inform all affected persons and all affected stakeholders of the immediate cancellation of its licence and cease all business of an exchange.

Another state of disaster declared in South Africa

The floods have damaged homes, businesses, basic infrastructure, roads, and bridges and affected crops and livestock.

World Bank urges Ghana to boost human capital to accelerate growth

The World Bank has had a productive engagement in the Ghanaian education sector over the past three decades.

Ruto fixes CBK legal hitch with deputy governor appointment

The law enacted in 2015 demands that the executive team at the CBK be composed of the governor and two deputies.

KRA set to tax hedging profits under new rules

Players in Kenya’s rapidly growing foreign exchange trading market are now also within KRA’s net.

Flutterwave Expands into North Africa After Bagging PSP Licence in Egypt

“This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”

Employers to take the biggest hit as NSSF implements Act

Though employees will see their deductions go up, they stand to be the ultimate beneficiaries of better retirement perks at maturity.

Naira gains 0.07% at investors, exporters window

A total of 55.52 million dollars was traded at the official Investors and Exporters window on Thursday.

More banks shut down as new notes scarcity persists

This came amid a Supreme Court injunction asking the Central Bank of Nigeria not to implement the February 10 deadline.

Nigeria’s central bank to address issue of ‘exorbitant’ PoS fees shortly

PoS operators are now charging 10% withdrawal charges due to scarcity of new naira notes

Regulation,Tax & Compliance