Managers of Wealth Africa

NCBA saves Sh222m on early payment of corporate bond

"We are paying the bond from our internal cash flows," John Gachora, NCBA’s chief executive told the Daily Nation, adding that the lender has plenty of liquidity.

Government hires RMB to advise on possible sale of stake in SAA

The advisers are expected to assess unsolicited expressions of interest from private-sector funders, private-equity investors and partners for a future restructured SAA.

ICMS Announces New Appointments

Also, the Lagos-based company announced the appointment of Mr Ken Anaje as the Head of Operations.

FCMB clarifies position on N573 million transfer

It is in the public interest to state emphatically that there was no transfer of N573m into this account.

Mauritius Issues Regulations Under the Mauritius Insolvency Act 2009

On 21 July 2020, the Minister of Finance, Economic Planning and Development issued the Insolvency (Extension of Time During COVID-19 Period) Regulations 2020 (Extension of Time Regulations) under the Insolvency Act 2009 (Insolvency Act) (GN 163 of 2020).

Treasury keeps off CBK overdraft in liquid market

The overdraft facility at the CBK provides a temporary source of cash for the Treasury to cater for emergencies and priority payments when revenue streams such as tax receipts and debt do not flow in at a pace that matches expenditure demands.

GN Bank Liberia Taken Over By Standard Chartered Subsidiary

Standard Chartered Ghana (officially Standard Chartered Bank Ghana Limited) is a banking financial services company in Ghana, and an 80% subsidiary of Standard Charted.

EBRD and CIH strengthen the resilience of small businesses in Morocco

The partnership, the first signed between the EBRD and CIH, will support CIH in its strategic focus towards SMEs by increasing its lending capacity to this sector.

South Africa’s central bank defends pandemic response

SARB under pressure from politicians to take more direct role in stimulating economy

T-bonds maturity profile hits 7.8 years on refinancing risk cut push

The time-to-maturity of bonds had fallen below six years in the period between October 2017 and March 2018.

Access Bank acquires Zambian Cavmont Bank Ltd

The statement from Access Bank says that the deal is a highly complementary transaction.

Why Tala backs regulation of digital lending industry

Ivan Mbowa, the regional general manager for Tala, a leading credit-only mobile app since 2014, spoke to the Business Daily about their lending standards and developments since Covid-19 shocks struck in March.

Mauritius-Africa, a partnership for shared prosperity

Many jurisdictions have placed ﬁghting this pandemic at par with war by employing emergency measures

Kenya continues to build Islamic finance as its regional ‘competitive advantage’

Today, Islamic finance is an area of development in the country’s Capital Markets 2014-2023 Masterplan (CMMP), which is itself a flagship project in Kenya’s Vision 2030.

European Investment Bank and Afreximbank supporting Africa’s trade

The support for sub-Saharan Africa delivered with Afreximbank is structured in two parts.

Offshore bank, investment and trust accounts – are these still allowed?

We are finding that many South Africans have international transactional needs for both business and personal reasons, yet some are only aware of one-dimensional foreign currency accounts, often referred to as CFC accounts.

BoG Gets Electronic Surveillance Software To Boost Banking Supervision

The Bank of Ghana has invested in state of the art electronic surveillance software to help capture supervisory data from regulated institutions more accurately and prevent the high incidence of misreporting within the financial institutions.

Treasury nets Sh40bn in tap sale

The government is also currently selling an 11-year infrastructure bond seeking Sh70 billion, with the sale running until August 18.

Safaricom bets on security platform to rein in hackers

The telco says demand for the product launched last year has been growing as businesses seek to guard against the ever-evolving cybersecurity threats.

Zimbabwe wants to raise money through a sovereign bond. Why this is ill-advised

The government has proposed issuing a long-term sovereign bond, a process where the government sells bonds to investors on either domestic or international financial markets to raise funds.

Regulation,Tax & Compliance