Managers of Wealth Africa

Equity Bank scraps ATMA acquisition plans due to Covid-19 uncertainty

“After careful consideration, EGH and ATMA have mutually agreed to discontinue discussions on the transaction for the foreseeable future.”

African Development Bank ranks 4th on global index of transparency

Publish What You Fund ranked the Bank ‘very good’ — The highest of the five categories used to assess organisations’ transparency

Africa’s Biggest Bank Faces Protest Over Pipeline Funding Plan

Uganda discovered commercially viable oil deposits in 2006 and plans to start production in 2023-24.

Kenya proposes CMA to regulate private equity firms

If the amendment is passed by Parliament, CMA will have the powers to scrutinise the books of firms that have attracted resources from public funds considering that pension schemes investments in PE firms has been on a growth trajectory in recent years.

African Economic and Social Awakening: Lessons from Singapore (By Leoncio Amada NZE NLANG)

Singapore is a relatively young country, like many in Africa, but is now globally considered as an example to follow in terms of sustainable economic development

Ecobank CEO kicks against debt relief for African countries

The G-20 in April agreed to provide the relief to help free up funds for more than 70 poor nations to deal with the pandemic, but the process has been slow, with many private creditors on the sidelines.

MPs want pensioners, NSSF saved from tax agony

The House committee turned down the introduction of the new tax on the retirement savings, arguing that it would add to the growing old age poverty.

The rich, firms face KRA auction over Sh250bn taxes

All taxpayers with outstanding tax liabilities and have not paid or entered payment plans to do so by 20th of June 2020, failure to which appropriate enforcement measures will be instituted against the outstanding debt.

High liquidity seen holding policy rate

Normally, high liquidity in the market would see a push for some tightening, either in the base rate or raising the cash reserve ratio for banks.

African Bank Tightens Lending Criteria After Swinging Into Loss

With revenues expected to continue falling, African Bank will review its strategy and put in place further cost-cutting initiatives

Kenya's Equity Bank halts talks to acquire 4 African banks due to COVID-19

Mwangi said that the bank's decision is in line with its business continuity management that speaks to risk assessment

S. Africa releases annual bank-related crime stats

The overall gross losses on card transactions in South Africa amounted to 428.6 million rand (24.8 million U.S. dollars), which is a 2 percent decrease compared to the previous year, said Mewalall.

First Bank, Access Bank Tell Customers To Be Wary As Bank Fraud Rises

First Bank and Access Bank Warns Customers Against Bank Fraudsters

Kenya proposes CMA to regulate private equity firms

The firms through their lobby group, the East Africa Private Equity and Venture Capital Association (EAVCA), are opposed to the proposal to be regulated by the CMA on the basis that it will amount to "overregulation" given that pension schemes a

Access Bank tells customers it’s time to pay accrued stamp duty charges

The charges accrued between February 1st and April 30th, due to ommissions by the tier-1 bank.

The Mauritius Financial Services Commission Issues its Revised Guide to Fitness and Propriety

Being “fit and proper” means an applicant and/or licensee is, on the balance of probabilities, competent and capable of carrying out business in a manner that is both honest and correct.

Dual citizenship firm opens office in Nigeria, targets wealthy persons

Costs are estimated to range from less than $200,000 for Caribbean passports to more than $1 million for European nations.

SA needs an economic Marshall Plan run by professionals not bureacrats

Unlike their older, larger counterparts, they create more jobs for every rand of their revenue. Our government is not prioritising these.

Banks go for government securities as non-performing loans pile

Bank managers fear for the worst in Q2 results as effects of coronavirus check-in.

Treasury plans ‘extraordinary changes’ to spending plans to avoid sovereign debt crisis

The adjusted budget is necessitated by the R500 billion stimulus package government announced to fight the Covid-19 pandemic on the health and economic fronts.

Regulation,Tax & Compliance