Managers of Wealth Africa

Long-awaited clarity on broad-based black ownership

The Practice Note states that beneficiaries of discretionary collective enterprises seldom have the right to vote at general meetings of underlying entities.

Lack of regulatory milieu hinders Islamic finance growth in North Africa

Issuers with weaker credit quality are likely to find it more difficult to access the market, says S&P

South African exchange control – relaxation of loop structures

The level of disclosure required needs to be balanced against any potential tax and estate duty savings and most importantly whether the return on the investment outperforms current returns on invested funds.

AfDB supporting banks to achieve climate, SDG goals – Akinwumi

The session focused on the role of PDBs and the reorientation of financial flows towards climate and sustainable development goals.

Regulations are forcing banks to put you first

Efforts to reduce fees, or at least not raise them in the 2021/22 financial year.

Zimbabwean Central Bank to restructure onerous Afreximbank loans

The tenure of the loans ranged from three years to five years and carried total cost, including management fees, advisory fees, participation fees, letter of credit fees, and LIBOR plus interest of approximately 12 percent.

AfDB and EBRD partner to unlock sustainable investment opportunities in Africa

The African Development Bank and EBRD have a long history of cooperation.

X-raying CBN’s Naira4dollar scheme

While he applauded FirstBank’s seamless service delivery and reward to its customers, Okoro urged the CBN to extend the policy to enhance awareness for the needed impact to be felt.

Treasury raises Sh20.9 billion in oversubscribed May bond tap sale

The tap sale will apply the same coupon rates as the month’s initial sale at 12.734 per cent and 13.924 per cent respectively.

Paris conference key for Sudan’s transition and unlocking its economy

To achieve these goals Sudan will need to rely heavily on its international partners.

Central Bank of Kenya to liquidate bank after ‘severe violations’

A report into Charterhouse by managers appointed to take over

SA banks are closing accounts without warning, complaints data suggests

Account closures by banks usually go unnoticed, with banks citing client confidentiality in such dealings and account holders often not willing to talk in public about the reasons they were fired as clients.

Ratings agency sends wage warning to South Africa

The group forecast that South Africa’s GDP growth is likely to remain below 2% due to the limited scale of planned structural reform, adding that ongoing issues such as government’s weak implementation record and electricity shortages will con

Charterhouse bank liquidation begins, refunds in 30 days

Process follows the submission of a Statutory Management Report that recommended its winding up.

Charterhouse Bank faces liquidation on CBK nod

Was placed under statutory management in June 2006 over violations of the Banking Act

KCB boosts National Bank capital with Sh3 billion long-term loan

The breaches had constrained NBK’s capacity to take more deposits and expand its loan book.

Kenya, DRC strengthen ties with historic treaties

This visit was aimed at enhancing the two countries' relationship in trade and security.

FNB warns of screen scraping scam targeting business

While this scenario is more relevant for retail consumers, the risks are also significant for businesses that sign over authority to a third party to access their banking and client information.

Estonia is punting its ‘e-residency’ for South Africans who want EU busines

More than 80,000 people from 170 different countries have become e-residents of Estonia.

JPMorgan Memo Warned $875 Million Nigeria Payment Was Graft Risk

European and Nigerian courts have been raking over the purchase by Eni SpA and Royal Dutch Shell Plc of the oil license in Africa’s largest crude producer a decade ago.

Regulation,Tax & Compliance