Managers of Wealth Africa

S.Africa's economy on recovery, says reserve bank

South Africa's economy has been under pressure after its growth declined for three consecutive quarters.

Policy rate to remain at 14.5% till Quarter 2 2021 – Fitch Solutions

This means cost of borrowing will stay largely same during the period.

Tanzania: African Development Fund Approves $50.7m COVID-19 Crisis Response Budget Support

The pandemic has put increased pressure on Tanzania’s health facilities, social protection systems and has dampened the country’s projected growth of over 6.2%

The Bank of Africa signs a new “Chinese” agreement

Operating in China since 2000 through its representative office, the Bank of Africa is one of the first African banks to obtain approval to open a branch in Shanghai.

Uganda regulator hands relief to Kenyan lenders

“It is not mandatory for a foreign bank to establish a representative office in Uganda in order to conduct lending.”

Uganda clarity on foreign bank loans good for EAC

Although the Bank of Uganda’s statement doesn’t override the ruling, its position enhances the local bank’s chances of success at the appeals court.

Uganda regulator hands relief to Kenyan lenders

Though the Bank of Uganda’s position does not override the court’s ruling, it boosts chances of a successful appeal by Diamond Trust Bank (DTB), which was the subject of a commercial court ruling.

Chinese bank signs debt suspension deals with 11 African countries

Beijing says it will also waive interest-free loans due to mature by the end of 2020 for 15 African countries

SARB grants Bank Zero forex exchange licence

Bank Zero’s focus is on the use of its debit cards anywhere in the world, which is what the restricted authorised dealer licence allows.

Call for SA to scrap high-risk list, allow business travel

Maynier said the new health protocols and measures could block investment.

Salaries agency to set Kenya Airways, KAA chiefs’ perks

This means that the SRC will assume the role of setting salaries and all benefits of the three subsidiaries that will be formed upon nationalisation of KQ.

Central bank says no license needed for foreign lending in Uganda

The central bank's position does not override the court's ruling but it potentially boosts chances of a successful appeal.

UBA links innovation to customer satisfaction

Alozie said in line with the theme, the ‘Dream Team’, which embodies UBA’s core goals, the bank has recorded considerable milestones in its journey.

Top S. African Bank Rejigs Bonuses for Managers Hit by Virus

South Africa Banks Gather Their Defenses to Ride Out Virus Storm

AfCFTA take-off: Nigeria remains most sought-after bride

Pressure from local unions such as the Manufacturers Association of Nigeria (MAN) and businesses had delayed the continent’s largest country from signing the agreement since it was launched two years ago.

Botswana cuts bank rate to support economic activities

Moses Pelaelo, governor of the Bank of Botswana, said the current state of the economy and the outlook for both domestic and external economic activity provide scope for further easing monetary policy to support domestic economic activity.

Insurance fraud in South Africa – what your insurer sees

“In response, the short-term industry is currently on high alert for fraud as Covid-19 financial pressures bite,”

OECD drafts principles for $100bn global corporate tax revolution

Technical blueprint would upend taxation of US tech groups but still needs political agreement

KCB takes over Sh3.1bn Imperial Bank deposits

Payments of such small sums are necessary to give validity to commercial contracts where acquirers are not expected to pay a premium for the assets they are inheriting.

Money market liquidity increases on government payments

These funds had been held up by the dispute in the Senate over the formula to be used in allocating county funds in the next five years.

Regulation,Tax & Compliance