Managers of Wealth Africa

Debt Exchange Programme: Four banks highly exposed

The banking sector is the most dominant investor in Government of Ghana (GoG) debt instruments, a phenomenon induced by both regulatory and market economics.

Third of new civil servants yet to declare wealth

Failure by those joining public service to make wealth declaration means agencies such Ethics and Anti-Corruption Commission (EACC), which gathers information on corruption occurring in the public sector, will be flying in the dark on tracking the authent

Safaricom to lose Sh2bn in call tariff cut

The rate was in August cut from Sh0.99 per minute to Sh0.58 per minute.

Wahda bank: First African bank to obtain ISO 27001 accreditation in “Swift environment” information security

Al-Turki indicated that after the bank obtained this achievement, it proves that the bank is committed to a high-quality banking environment and brilliance at the local and international levels.

Bank of Ghana authorises 9 institutions to serve as FX brokers

The statement said the BOG reserved the right to delist any authorised FX broker for non-performance or non-compliance with FX Act and the Interbank FX Market Conduct rules.

Kenya Will Not Default on Its Debt Payments -President Ruto

In June it was forced to cancel the planned issuance of a Eurobond and is seeking alternative sources of funding.

Expect more rate hikes in 2023: expert

The SARB tries to keep inflationary levels stable between 3%-6%.

NCBA ordered to refund Sh1 million company spent on trailer at auction

Evidence presented to the court was that the lender advertised a number of motor vehicles and trailers it had repossessed from defaulting customers in December 2019.

Regulate bank-to-mobile rates

The waiver, largely intended to encourage cashless transactions in the face of the pandemic, did produce some results.

Nigerian President Muhammadu Buhari has signed the $21.83 trillion 2023 budget.

These provisions were made for the 2023 general elections and the transition programme.

Tunisia central bank raises key interest rate by 75 basis points

Move aims to curb high inflation, which reached 9.8 per cent in November

Nigel Green hit with ZAR 2.5m fine and ban in South Africa

As the former deVere business – now Brite Advisors – loses its financial services provider licence and is handed ZAR 10m penalty

African Development Bank signs $40m deal with Bank One of Mauritius

The package is expected to help Bank One increase its capacity to provide trade finance needs to Small-and Medium–sized Enterprises (SMEs) and local corporates in Mauritius and across the continent.

CBN monitors 6,047 BVNs over suspected fraudulent transactions

The report also noted that 11,871 BVNs have been watch-listed as deceased persons this year.

Ghanaian Banks’ Capital to Weaken on Sovereign Debt Restructure

The LC debt exchange, launched on 5 December, comes alongside Ghana’s efforts to secure IMF support. Fitch views it as a distressed debt exchange and downgraded Ghana’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘C’ fr

Afreximbank Spends $1.5B to Promote Trade Finance in Caribbean

Afreximbank, or the African Export-Import Bank, aims to “finance and promote intra-and extra-African trade.”

CBN raises cash withdrawal limits

According to the CBN, any withdrawal above the set limits must be approved by the Managing Director of the bank in writing.

Beware these insurance scams on the rise in South Africa

Insurance sales scams refer to a customer applying for a loan and are requested to make a deposit into the scammer’s bank account.

2022 Review: Confidence in the African Development Bank Increases!

For its part, the Board of Executive Directors, led by the Bank's President, Akinwumi Adesina, took seriously the looming threat of food and social crises in African countries in the wake of Russia's war in Ukraine.

Moroccan Assets Controlled by BANK OF AFRICA Protected by New Security Partnership

Building an intricate anti-fraud culture is paramount to the growth of pan-African banking.

Regulation,Tax & Compliance