Managers of Wealth Africa

FG, World Bank begin process to rebase Nigeria’s GDP

This is necessary because of the changes in relative prices and the structure of the economy over time.

A Pragmatic Solution to the BEAC’s FOREX Regulations Will Not be Reached Without the Involvement of Local Stakeholders

Reaching a fair and just resolution that puts forth the interests of Africans, businesses and investors cannot be done without involving local services companies, local entrepreneurs and the local business community.

Conditional loans raise public debt by Sh1.23trn

Kenya had kept away from this type of credit, which come with demands for macroeconomic reforms, during administration of former President Mwai Kibaki, with most of the support from institutions like the IMF and the World Bank coming in the form of projec

Borrowers blacklisted on CRBs hit 14 million

The banking regulator had given a six-month suspension of CRB listings in April as part of the measures to cushion borrowers hit by the coronavirus pandemic.

South Africans should prepare for price hikes over the next few months

“This is unfortunate news for producers and consumers in the sense that transport cost will definitely increase due to this, which will have a negative effect in disposable income of the consumers.

Access Bank’s directors approve dividend payment

Shareholders received N14.22 billion as final dividend for the 2019 business year in addition to interim dividend of N8.89 billion earlier paid by the bank, bringing total dividend for the year to N23.11 billion.

CBK gets bigger role on digital payment systems

“To mitigate against such threats, CBK is in the process of formulating a National Payments Strategy to address emerging risks and guide the payments ecosystem in Kenya,” he added.

Regulate mobile money, but don’t kill innovation

A National Payments Strategy will "address emerging risks and guide the payments in Kenya and ensure pricing practices are reflective of the overall stance on customer-centricity, affordability, and transparency."

KCB offers recovery loans for small enterprises

The fund will also be used for green financing.

NBK faces auction after losing Sh136m pension case

Lady Justice Maureen Onyango, however, upheld the ruling saying NBK was not entitled to the review orders it sought for flouting the trust schemes rules.

French billionaire puts Mozambique leader at heart of debt scam

Frelimo spokesman says Nyusi wasn’t president at the time and under Mozambican law was allowed to receive political donations.

Beware of sensational news around prescribed assets in South Africa

The biggest target for these attacks is retirement annuities

The long-anticipated relaxation of the South African Exchange Control Rules

The "loop" structure and investments restriction were lifted to promote inward investments into South Africa

DRC’s problems with Kenya’s Equity Bank and James Mwangi

At the end of December, the Kenyan financial services giant – which reported revenue of KSh76bn in 2019 – received the green light to merge its banking network with the newly acquired company, thereby increasing its stake in Equity BCDC to mor

Nigeria: IMF Foresees Improved Capital Spending in Nigeria

The average overall fiscal balance was estimated to be lower in 2020 by 1.7 percentage points of GDP, and the average public debt increased by 5.2 percentage points to 48.5 per cent of GDP at end-2020.

CBK backs banks to lift growth despite lending risks

CBK attributes the increase in NPLs to the subdued business environment, and banks continuing to make provisions – funds set aside to cover loans unlikely to be repaid, as COVID-19 impact borrowers’ income streams.

Treasury eyes Sh50 billion in new bond

It is this excess liquidity that the Treasury is hoping to tap in the new issuance.

EBRD signs €20 million risk-sharing facility with Bank Attijari Tunisia

Since the outbreak of the coronavirus pandemic, existing challenges to access funding and liquidity have become even more acute and further constraining the growth of many private businesses.

Beware of 'fake' PSG and Stanlib, authorities say

SA’s financial watchdog has warned investors not to use the services of a group that calls itself PSG Fund Investment.

Signature of a Memorandum of Understanding between BANK OF AFRICA BMCE Group and Islamic Corporation for the Insurance of Investment and Export Credit

This Memorandum of Understanding was signed by: Mr. Brahim BENJELLOUN TOUIMI, Administrator Managing Director of BANK OF AFRICA BMCE Group, and Mr. Mohammed AGOUMI, Managing Director, in charge of International Division of BANK OF AFRICA BMCE Group and Mr

Regulation,Tax & Compliance