Managers of Wealth Africa

How Fidelity Bank is Fostering Financial Inclusion

To better the statistics of its people living below the poverty line, there need to be drastic measures set in place to change lives positively.

Economy steadily recovering, but growth still fragile — CBN

Emefiele who spoke at the ongoing 2021 Annual Bankers’ Committee Retreat in Lagos, stressed that banks should make credit available to the Small Medium Enterprises, SMEs, which he described as the engine of growth.

Access Bank to hold court-ordered meeting ahead of holdco transition

The process is to be completed by April 15, 2022, when the holdco shares will be listed in Lagos.

Mauritius Commercial Bank gains new licence with Dubai FSA

The UAE has 20 Double Taxation Agreements (DTAs) in force with African countries, while Mauritius have 16.

Mauritius supports ‘Les Amis de Zippy’ mental health program

To make a positive impact on the promotion of children's mental health, research has shown that it is crucial to involve the school community through a ‘whole school approach’ project.

Tanzania: introduction of UBO registration requirements

Going forward, the UBOs’ particulars shall be submitted annually together with the annual returns, failing which the annual returns will not be deemed as being filed.

BoG seeks partnership to grow fintech space

The COVID-19 pandemic was challenging but it also presented some opportunities.

Making Banks Safer

Financial stability is paramount for economic growth, as most transactions in the real economy are made through the financial system.

Massive money-laundering probe heartens anti-corruption activists but fails to lift Pandora Papers’ pall over Seychelles

The African tax haven, recently removed from the EU’s blacklist despite uproar, is prosecuting its first major money laundering case against an influential couple who feature among the wealthy elites in the Pandora Papers.

Kenya: Country-by-country reporting draft regulations issued

This measure is aimed at enhancing transparency through comprehensive exchange of information between revenue authorities.

African neobanks picks Seon to fight online fraud

Neobanks play an important role in helping to fill this gap, providing people with access to essential financial services, such as loans and the ability to save.

Standard Chartered completes first USD Sofr trade loan in Hong Kong

New pricing benchmark adopted in transaction with Qatar National Bank

South Africa’s economy is dominated by just a few big companies – and now they face stricter rules

The commission’s chief economist, James Hodge, noted in his presentation that once industries become concentrated, the trend is towards more concentration and so more deliberate action to address this is needed.

IMF staff to govt: Cut irrelevant, underperforming SOEs - and no more backing without reforms

The South African government should take a full inventory of state-owned enterprises (SOEs) and divest or liquidate those that are no longer relevant – or which are failing to meet their objectives.

African Union calls for end to Omicron travel curbs on some African nations

Late last month, European Union states, the United States and Britain, among other nations such as Israel, imposed travel curbs on seven southern African countries after they reported several cases of the Omicron variant, which is considered highly infect

MTN Nigeria and Airtel Africa launch payment service banks

The Central Bank of Nigeria has granted approval for telcos to operate financial services in a bid to make a dent in the country’s huge unbanked population.

Kenya: Mobile loan rates now under CBK control

Digital lenders will now set interest rates for their loans within parameters approved by the CBK in an effort to protect borrowers against predatory lending that has thrown many into debt traps.

Implementation of AfCFTA will boost the country’s balance of payment

The President said the Association stood ready to work in partnership with government through the Ministry of Trade and Industry and other key stakeholders to identify and support industries with highly competitive advantage to enable Ghana to optimize th

TRIPS Waiver

As consensus on the proposal seems unlikely, in this client alert we consider the existing law, which can require rights holders to share their technology in certain circumstances.

Five banks’ interest income drops to N376bn, experts blame CBN cash reserve policy

The revenue of commercial banks consists of net interest income and non-interest income.

Regulation,Tax & Compliance