Managers of Wealth Africa

UN official asks Kenya to cut remittance cost, aid citizens abroad

World Bank projects that in general terms, remittances to low and middle-income countries will tumble by $109 billion this year, from last year’s $554 billion.

Morocco’s Central Bank Calls For Suspension of Dividend Distribution

By suspending the distribution of profits to shareholders, credit institutions will hold on to sufficient capital amid the COVID-19 crisis.

African Bank Whistleblowers Demand Independent Probe

Whistleblowers who accused the African Development Bank president of breaching the bank's code of ethics

Absa partners with HPS to roll out PowerCard across Africa

Through electronic payments, we aim to bring financial services to many more unbanked and underbanked people, reduce transaction costs and increase customer convenience.

Firms, workers get Sh17bn corona rescue loans

The extra cash following the cut of the cash reserve ration had increased to Sh53.9 billion by April 25, partly due to stringent borrowing terms imposed by the banking regulator.

Akinwumi Adesina: Best Man for the AfDB

The whistleblowers wanted him to be investigated for alleged breach of the institution’s Code of Conduct, in order to check fraud and corruption and prevent an institutional crisis.

Central Bank tasks banks on sustainable business models

Experts seek investment in ethical hackers to check cyber threats

Nigeria: Q1'2020 - Banks' Losses to Bad Loans Double

The nine banks includes the five tier-1 banks which are Access Bank, First Bank, GTBank, UBA and Zenith Bank, and leading tier-2 banks which includes Fidelity Bank, Stanbic IBTC Bank, Ecobank Nigeria and FCMB.

Nigeria's Central Bank Offers Guarantee to Investors on Forex Repatriation

The move to curb dollar purchases was seen as a precautionary, considering banks may be experiencing a shortage of foreign currency available

African Bank Chief Cleared Of Ethics Abuses

The AfDB is one of the world's five largest multilateral development banks.

Governor Byles promises Jamaica will be off EU blacklist next year

Governor Byles pointed out that the BOJ's recently overhauled regulatory regime for electronic retail payment system, dubbed the fintech regulatory sandbox would assist in the Jamaica getting off the blacklist.

African Development Bank president cleared of favouritism charges

Adesina has repeatedly refuted the allegations as unfounded, describing them as an attempt to discredit him before his bid for a second five-year term later this year.

EU Executive Proposes Anti-Money Laundering Body

One influential EU lawmaker said it should be a new agency not part of the European Banking Authority.

Beware of phishing

Scammers use email or text messages to trick you into giving them your personal information.

Covid-19 assistance: IMF approves $31m for Seychelles

The authorities reacted swiftly by taking immediate measures of containment, including border closures, strengthening health policy responses, and supporting households and firms.

UAE criticised for ‘ineffective’ sanctions and money laundering efforts

The accusations are made by the Middle East and North Africa division of the Financial Action Task Force

State offers 40pc of pension savings for home purchase

Proposed changes to the pension laws are meant to make it easier for individuals to buy their first homes given that most households are unable to raise the minimum house purchase deposit or afford the typical monthly mortgage repayments.

No space to recapitalise the Land Bank in the current budget

This means unless a special appropriation is brought to Parliament, there will be no money for the Land Bank for the current fiscal year, which ends on 31 March.

Delay in hearing against two Deloitte partners

The matter would have been heard this week, but which were postponed due lockdown requirements as a result of the Covid-19 outbreak.

African Alliance Insurance Plc announces board meeting and closed period

African Alliance Insurance PLC has announced that its Board of Directors will hold a meeting at 54, Awolowo Road, Ikoyi, Lagos on Wednesday.

Regulation,Tax & Compliance