Managers of Wealth Africa

Kenya’s central bank governor admits pressure to convert country’s reserves into Bitcoin

Furthermore, Njoroge noted that the country could only opt to adopt cryptocurrencies if they solve a particular problem.

Stanbic Bank partners with real estate companies to offer affordable housing

Stanbic Bank’s Home Loan solution, in partnership with Kenya Mortgage Refinance Company, has interest rates of up to 9.5%

CBK Directs Unregulated Digital Lenders To Cease Operations

Under the new regulations, the lenders are barred from sharing borrowers’ information with third parties and they are also required to seek CBK approval for interest on their loans.

On the Back of Macro economic Challenges, Six Banks’ Impairment Charges Soar by 55.4%

These, among others, have disrupted economic activities, and it is expected to affect most risk assets.

Mozambique Memorandum With IMF Foresees VAT Reform in 2023

The document was published on Wednesday on the website of the Mozambican Ministry of Economy and Finance and accessed on Friday, 16 September by Lusa.

Absa could challenge Competition Tribunal’s order to reopen Sekunjalo accounts

Bank considers taking legal action to keep accounts closed, but says it will co-operate with continuing investigations

Verto announces new partnership with Africa-focused firm Xente

These organisations will be able to use simple cross-border payment mechanisms in an attempt to boost financial inclusion.

PenCom approves FBN Holdings’ acquisition of Access Bank’s pension business

First Pension Custodian Limited, a subsidiary of First Bank Holdings Plc, had in May agreed with Access Bank Plc to purchase the latter’s entire share capital in its pension subsidiary, Access Pension Fund Custodian Limited.

Nedbank extends N$11 billion in property loans

“We want to continue our commitment in playing a pivotal role in supporting the growth in our home loan division,” Van Graan said.

S&P says greylisting impact on SA's banking sector will be 'muted'

And while it will raise transactional and compliance costs for the private sector, banks are not expected to lose their correspondent banking relationships in the event of greylisting, said the agency.

AYO Technology Solutions applies for urgent interdict against Access Bank

Access’s senior counsel, Advocate Adrian Botha, claimed in his submissions that the account closures were merely a contractual agreement between the bank and the client.

South Africa's banking and insurance sectors are overwhelmed by cyber attacks

A rebound in economic activity saw South African banks record net profit increases of between 95% and 224% in 2021, making it even more attractive to hackers.

Ghana: Avoid Issuing Dud Cheques, Securing Loans Will Be Adversely Affected - BoG

The Central Bank also stated that bank customers are entitled to a free credit report once a year.

Bank of Ghana is expected to further hike monetary policy rate before year end

Meanwhile, further tightening of monetary policy in Ghana is believed to be one of the conditions required for the country to reach a deal with the International Monetary Fund (IMF) for a $3 billion bailout.

SA lawmakers up in arms at unilateral, arbitrary closing of bank accounts

This comes as the standing committee on finance yesterday received briefings from Gardee Godrich Attorneys, the National Treasury and the Financial Sector Conduct Authority on the banking sector’s conduct.

Banks harshly criticized for not reporting matters to the FIC

The law firm had written to the committee to raise the problem of discrimination allegedly perpetrated by the banks against people whose banking accounts were closed.

African Development Bank’s Enhanced Private Sector Assistance to Central African Region

Credit lines for regional development financial institutions went to the West African Development Bank, Africa Trade Insurance Agency, Africa Finance Corporation, East African Development Bank, and several commercial banks.

Kenyan shilling stable, expected to ease due to increased importer demand

At 0738 GMT, commercial banks quoted the shilling at 120.15/35 per dollar

African Development Bank and Portugal sign EUR 400 million guarantee agreement to underpin Lusophone Compact

The program is designed for new, non-sovereign operations in these Lusophone countries and will enable the Bank to optimize allocation of its risk capital to these countries.

Central Bank of Nigeria partners with Arabatech, PNAIL to promote eNaira platform

Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment (NIP) is now available on the eNaira platform.

Regulation,Tax & Compliance