Managers of Wealth Africa

Nigeria justifies war on cryptocurrencies, takes tougher actions

The risks, it said, include loss of investments, money laundering, terrorism financing, illicit fund flows and criminal activities.

UBA in fresh bid to sell Uchumi land

The lender says Uchumi has been in default of its facility for close to four years, terming it a huge concern to both the bank and its regulators given the negative impact it has on its depositors’ funds.

The make-or-break issue for Tito Mboweni and South Africa

The group estimates that the South African economy grew by 5.5% in Q4 2020 following the 66% q/q annualized rebound in Q3.

It is time Treasury cut unnecessary spending

This inability to curb expenditure does not stand Kenya in good stead, especially in the eyes of international financiers to whom the country has turned for support in the past one year.

Nigerian Court Ends Freeze on Accounts Linked to Protests

The 19 individuals and one company impacted were prominently involved in the largely leaderless demonstrations that began in October and swept through Africa’s most populous nation for several weeks.

Digital lenders need to embrace CBK regulation

Commercial banks and microfinance institutions can attest to the benefits of legally backed loaning schemes, especially in an environment where borrowers are pressed by hard economic times.

Financial experts laud CBN’s ban on cryptocurrency

The CBN acts of 2007 stated that the bank is the one in charge of monetary matters in Nigeria.

Qatar and Rwanda signs double tax avoidance agreement

The agreement was signed by His Excellency Ahmed bin Issa Al Mohannadi, the GTA's President and His Excellency Francois Nkulikiyimfura, Rwanda's Ambassador to Doha, in the presence of His Excellency Ambassador Abdulrahman bin Mohammed Al Dosari,

Nedbank denies complicity in S.Africa corruption, shares fall

In a statement responding to the article, Nedbank said there was nothing unlawful or unusual about its relationship with Regiments, although with hindsight it might have acted differently.

The impact of Regulation 28 on your retirement funds

Regulation 28 essentially limits asset managers’ allocations of retirements savings to certain assets classes.

SEC Releases Rule on Registration for Nominee Function

The rule also stipulates that a nominee shall not engage in any business or activity except the business of nominee companies described above.

CBN Seeks to Lure Portfolio Investors with Higher Yields

Last week, the FMDQ OTC futures prices were adjusted higher by an average of N9.81 on the short-end and N14.16 on the long-end of the curve.

African Development Bank, FAO and South Sudan’s government ink protocols for $14 million grant to boost agricultural markets

The project will create aggregation business opportunities for farmers and traders, including women and youth, and provide them with new skills and the agro-processing equipment they need to produce competitive products.

CBN, NSITF yet to pay 50% equity in FMBN

Reps query FMBN, TETFUND over 5-year unaudited accounts

Rand boost as traders expect positive news for South Africa

Debt issuance is also higher than budgeted, with the government taking advantage of strong demand to boost weekly sales.

Analysing the Central Bank of Nigeria’s Dollar Remittance Policy

The CBN also directed the closure of all naira ledger accounts by Deposit Money Banks (DMBs) to discourage the use of unsafe and unofficial channels

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.

Regulation,Tax & Compliance