Managers of Wealth Africa

CBN Fines 10 Banks

The CBN by regulation forces banks to retain up to 27.5 per cent of their deposits in CRR requirement, meaning that the deposits are not accessed by the banks for loans and advances.

Treasury allocates NMS Sh14 billion to operate until 2023

The Treasury previously slashed the budget for the NMS in the current financial year signalling an end of the short tenure of the entity.

Nairobi Financial Centre firms to pay Sh1m fee

The publication of the regulations to back the agency’s operations and the setting up of its board last year set the stage for its formal launch

SARS must also follow the Rules of the tax dispute resolution process

The court then explored what the standard was to be applied in determining an application for condonation and stated that it is settled law that the standard to be applied is what is in the interests of justice which is “a wide and elastic concept&a

Development Bank, DLM Capital Gets Approval to Acquire Links Microfinance Bank

This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs

Cape Town wants wider roads and flexible work hours to help cut down on traffic

Congestion on Cape Town roads is costly for the economy and commuters in terms of both time and money.

Reserve Bank sends price hike warning to South Africa

Higher expected wage growth, a somewhat weaker rand and further advances in global goods prices could exert additional upward pressure on headline inflation

MTN gets approval to operate payment service bank in Nigeria

Mobile payment service operators provide financial services through digital means to low-income earners and people who do not use banks or banking institutions for transactions.

The World Bank and IMF Are Getting It Wrong on Climate Change

Rich donor countries are working to deprioritize poverty reduction and economic development in the global south.

Banks Are Being Fined By The Nigerian Central Bank For Allowing Cryptocurrency Transactions

The sanctions are part of the Central Bank of Nigeria’s efforts to discourage cryptocurrency use and impose commercial limitations on cryptocurrency trading.

First Bank staggers opening duration at branches

Despite not stating the reason for the action, it is believed the bank took the decision to cushion the effect of the increasing cost of diesel with which it powers many of its branches.

Afreximbank launches 4 billion US dollar Ukraine Crisis Adjustment Trade Financing Programme for Africa

It is a programme of credit facilities that the Bank has developed to manage the impacts of the Ukraine crisis on African economies and businesses

Bank Of Ghana Warns Against Trading In Foreign Currency

The BoG said it is collaborating with the security agencies to clamp down on illegal foreign exchange operations.

Nigeria’s central bank fines 3 banks $1.9 million for operating crypto trading accounts

In February 2021, the Central Bank of Nigeria ordered all commercial banks and financial institutions to close all customer accounts that operate in or trade cryptocurrency.

Reserve bank wants engagement on cryptocurrency regulation

A distributed ledger is a digital record of transactions and contracts maintained in a decentralised form across different locations.

FG Moves to Withhold Assent to MDAs’ Budgets over Non-rendition of Accounts

This came as the ACCA Nigeria’s Country Head, Mr. Tom Isibor, said non-rendition of had implications for Foreign Direct Investment into the country.

Kenya's top banks want the country's central bank to re-introduce charges on mobile money transfers

By ending of 2020, Kenyan banks made efforts to have the transfer fees reinstated.

IoD Task Members on Good Corporate Governance

Let me start by acknowledging that the quality of the membership of any professional organization generally defines its influence and relevance.

Dubai Financial Services Authority signs MoU with Central Bank of Mauritius

The MoU places an emphasis on technologies pertinent to financial services

Top banks urge CBK to reinstate M-Pesa fees

CBK rejected bankers’ push to reinstate fees on the transfer of cash between accounts and mobile phone wallets at the end of 2020 when it ended free M-Pesa transactions of up to Sh1,000.

Regulation,Tax & Compliance