Managers of Wealth Africa

Digital Lenders Oppose CBK’s Plans to Regulate Mobile Loan Interest Rates

Instead of regulating interest rates, the Digital Lenders Association (DLAK) is proposing the CBK to adopt risk-based loan pricing models.

Digital lenders oppose rate cap plan

Most banks froze unsecured loans to small- and micro-sized enterprises after introduction of controls on loan charges from September 2016 to November 2019 citing “high” risk of default, forcing a reversal of the law.

Kenya ranked third in Africa to gain from free trade deal

“Most of AfCFTA’s income gains are likely to come from measures that cut red tape and simplify customs procedures,” the World Bank`.

African Development Bank approves $27 million to boost African Union’s COVID-19 Response Initiative

The approval comes on the heels of a meeting of the extended Bureau of the AU Conference of Heads of State and Government with Africa’s private sector on 22 April 2020

Current account deficit narrows on higher inflows

The monetary regulator will shed further light on the inflows and outflows on Thursday when the governor is expected to hold a media briefing on the MPC meeting being held tomorrow.

FATCA and CRS in the South African context – four common misconceptions

All SA entities that have been classified as FIs under FATCA and CRS must perform due diligence procedures to identify reportable account holders.

World’s Best Sub-Custodian Banks 2020

Subcustodians make cross-border securities investing possible

Martin Currie CEO handed top EMEA role as Franklin/Legg deal nears close

Several senior positions are confirmed ahead of the formal creation of the $1.4tn asset management company.

Ghana’s Finance Minister Says Global Investors Are Unfair to Africa

Ofori-Atta has played a leading role in helping to negotiate a debt standstill for African countries.

Old Mutual to Move Zimbabwe Listing as Currency War Escalates

Another meeting is scheduled for next week to resolve administrative issues and discuss the finer details, the people said.

Bank of Mauritius joins the Network of Central Banks and Supervisors for Greening the Financial System

Reflecting on this new membership, Governor Harvesh Seegolam stated: “In line with the United Nations Sustainable Development Goals

Stanbic restructures Sh1bn car loans as Covid-19 bites

The restructured car loans make up about 6.6 percent of Stanbic’s Sh15.15 billion vehicle and asset financing loan book segment.

Steinhoff proposes R16.5 billion settlement to resolve 90 claims against it

"The proposed settlement terms being announced today are the culmination of 12 months of intensive effort," said Steinhoff's CEO, Louis du Preez, in a statement.

African Development Bank approves $53 million multi-country grant for COVID-19 response in Gambia, Liberia and Sierra Leone

The grant from the African Development Fund aims to mitigate the impact of COVID-19 in The Gambia, Liberia and Sierra Leone

Rwanda: African Development Bank commits $98 million for multisector COVID-19 response

The funding will take the form of an African Development Fund loan, which the Bank is providing the under its COVID-19 Response Facility

Djibouti: African Development Fund commits $41.16 million in grants to shore up COVID-19 response

The funding will take the form of an African Development Fund grant for $4.12 million and a $37.04 million grant from the Bank’s Regional Operations Envelope

Life under COVID-19 for China and Africa – FBNQuest

Tejinder Singh, noted a move in financing away from the sovereign obligor structure over the past 18 months (and so pre-COVID). African governments had become increasingly reluctant to issue guarantees.

African Development Fund approves UA100.4 million multi-country Covid-19 Response Support for Malawi, Madagascar, Mozambique and Sao Tome

The package will support the national actions of the four countries in mitigating the impact of COVID-19, with the overall objective of protecting lives and livelihoods

Mismanagement of depositors’ funds resulted in banking cleanup

“Let no one stand on the staple and proclaim untruths and let mature Ghanaians be quick to listen,slow to speak and slow to angry.”

Kenya’s central bank looks to regulate digital lenders

Currently, there is no legal framework in place governing digital borrowing platforms and other digital financial products and services.

Regulation,Tax & Compliance