Managers of Wealth Africa

Banks reject amended debt exchange offer

However, in the event that a bank may have to move forward to exchange, the MD/CEO must inform the CEO of GAB directly of the decision,” according to the letter sent to the banks.

Reserve Bank testing ‘digital rand’ in South Africa

A CBDC is a digital version of a country’s fiat currency issued and controlled by the country’s central bank.

Regulator punishes 10 insurance firms, triples industry fines

The rise in penalties from Sh17.6 million in the preceding year and Sh2.7 million in 2019 comes on the back of increased focus on the sector over the stability of some of its players as customer complaints mount.

Fraud perpetrated by bank staff rises, says FITC

The number of bank workers that were sacked in second quarter 2022 due to fraud represents a 90 per cent increase compared to 10 recorded in Q1 2022.

General Laws Amendment Act – is your company prepared?

The purpose of the new act is to address any shortcomings in the current legislation that deals with combatting money laundering and terrorist financing.

Job cuts at one of South Africa’s biggest companies

“The 2020 tobacco sales ban resulted in an explosion of growth for the illicit market. This has continued even after the ban on tobacco sales was lifted.”

EAC to set up regional central bank this year

The single currency will ease business and movement of persons within the region, which would achieve the bloc’s goal of becoming as envisioned in the Common Market Protocol.

Group seeks deadline extension for acceptance of old Naira notes

Already, there are strong indications that a new date may be announced before or during the CBN Monetary Policy Committee (MPC) meeting coming up on Wednesday, January 25, 2023.

CBN begs traders to accept new naira notes

Ogbu advised the market men and women, “to ensure that you deposit cash holdings in these denominations (N200, N500 and N1,000) at your commercial banks”.

Africa Prudential bags more ISO Certifications

The certifications followed a comprehensive audit and evaluation exercise conducted by MSECB – an internationally recognised certification body.

Access Holdings planned takeover of Kenya’s Sidian Bank aborted

The corporation noted that “the parties were unable to reach agreement on the variation of these conditions in a manner to deliver the desired outcome for the parties.”

Angola to get three new hospitals, as Investec, government and banks partner

Investec partners with Angolan government, agencies and international banks in the building of three key hospitals in Angola

‘Nigerian government can stabilise naira using friendly policies, cryptocurrency’

Cryptocurrency has amazing opportunities and that is why a lot of youths are finding ways to turn their time and energy into foreign monies, whether it is Bitcoin or dollars so as to maximise the opportunities.

Kenyans urged to prepare for tough economic times

The nation's financial crisis is reaching unfathomable heights.

Banks cut loans to State by Sh104bn over low returns

The 61.78 percent, or Sh104.86 billion, fall came at a time banks asked for higher interest rates during bond sales to compensate for rising inflation that threatened to eat into their real returns.

Nigeria’s GT Bank fined in UK over money-laundering failures

Financial watchdog says GT Bank, a repeat offender, has not disputed the findings and agreed to settle.

UBA to Block International Transactions on Naira Cards From January 15

Instead, its external reserves, which are mainly from crude oil sales, have continued to shrink due to oil theft and low production, putting pressure on the Naira in the currency market.

South African president plays down central bank mandate change talk

South Africa’s economy is being held back by regular power cuts and the nation has one of the world’s highest unemployment rates.

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

Regulation,Tax & Compliance