Managers of Wealth Africa

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.

Ugandan banks jolted by court ruling on syndicated loans

Diamond Trust Bank's lawyer, Kiryowa Kiwanuka, told Reuters it had filed a notice of appeal against the ruling.

Populist proposals in Bill risk Helb’s revolving fund

The National Assembly should also consider giving Helb teeth to track and recover the Sh7.7 billion debts that 78,328 beneficiaries owed as of December 31 last year.

South Africa’s government has a real problem: it’s running out of money

President Cyril Ramaphosa has in recent weeks waxed lyrical about a plan to revive the country’s broken economy.

African governments warned over commodities misinvoicing “red flags”

According to its report, which focuses on extra-continental African exports in eight select commodity groups such as gold and platinum

World Bank Sees Sub-Saharan Africa GDP Rebounding in 2021

The lender’s baseline scenario assumes that the number of new infections will continue to slow and that fresh outbreaks won’t result in new lockdowns.

KMRC rejects Sh16.5bn mortgage funding bids

Chief executive Johnson Oltetia did not disclose the portfolios submitted by individual lenders.

Court blocks push to eliminate bank deposit disclosures

Mr Kobia argued it was illegal for banks to impose rules that make cash withdrawals difficult and which breach the confidentiality of financial transactions.

Banks fighting cyber fraud with strict measures – Bankers’ chief

Also, in recent times, the various forms of advanced technologies adopted by financial institutions have made the banking sector more susceptible to various risks such as phishing, identity theft, card skimming, fishing, email fraud and more sophisticated

African Development Bank wins global award for COVID-19 bond issue

In 2018, the Bank was recognized as “Second most impressive social or sustainability bond issuer” at the Global Capital Socially Responsible Investments Awards.

The offshore cash conundrum solution

Offshore policy wrappers offer some real solutions to some of the potential issues with investing offshore.

CBN approves new cheque standard for banks

A new cheque standard has been approved by the Central Bank of Nigeria.

NDIC set to pay insured depositors of liquidated Femaz Microfinance Bank

The affected depositors are to present their cheque books, passbooks, and other proofs of account ownership, together with a valid means of identification on alternate account.

Banks shouldn’t lend to states without our approval – FRC

On lending to states by DMBs, the communique read in part, “No commercial bank should lend money to states without approval from the FRC, in line with the provisions of the FRA.”

Portuguese regulator calls for criminal prosecution of auditors following Luanda Leaks

The regulator also identified situations in which auditors failed to identify parties to transactions, lacked adequate documentation to show “economic substance of underlying transactions” and did not maintain ”professional skepticism,&a

Nigeria widens markets’ depth with central counterparty clearing houses

SEC’s approval-in-principle has been described as a ground-breaking development which opens up the financial markets to possibilities of permissible products.

Kenya and France sign three bilateral deals to boost economic ties

The highway is one of the largest PPP projects in Eastern Africa.

African Development Bank wins global award for COVID-19 bond issue

The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the first time in 12 years

Ghana should consider revising pension age

According to Mr Atta Krufi, Ghana’s retirement age of 60 years could result in losses in the workplace in both human and financial resources.

Regulation,Tax & Compliance