Managers of Wealth Africa

South Africa’s growth rate forecast revised down

The revised forecast comes after the World Bank cut its growth forecast for South Africa to below 1% for 2020 due to Eskom’s load shedding.

Charts Showing S. Africa Central Bank Data That Led to Cut

These charts show how the data that influenced the decision have changed since the November MPC meeting.

Security is not a single product solution – and other issues to consider in 2020

And thus, there is no surprise that throughout 2019, organisations across all industries globally were targeted by cyber attackers.

SA banks unaffected by Silence malware threat

It's business as usual for South African banks, despite a warning of potential malware attacks on major institutions in sub-Saharan Africa.

Orange Liberia ties up with United Bank for Africa to start money transfers

For the first three months, the service will be free of charges for all customers with a minimum fee of LRD 0.50 per transaction after that period.

Treasury faces hurdles in getting bank funding

Domestic banks’ capacity and willingness to purchase government securities influence the liquidity conditions sovereigns face, particularly those with constrained or unreliable access to external financing.

AfDB Allocates €1.2M to Train Policymakers in Boosting Mining Revenues

First beneficiaries: Liberia, Sierra Leone, Guinea, Niger, Mali, Madagascar, South Sudan, and Zimbabwe

Focus areas for Central African bankers

The emerging-market fallout of geo-political tensions between the US and Iran may be countered by a de-escalation of America’s trade war with China, said Cobus de Hart, chief economist for West, Central and North Africa at NKC African Economics.

President wants CBK to use 'policy tools' in taming rogue lenders

This is expected to raise credit flow to businesses and homes albeit at a higher cost after banks were handed a free hand in pricing loans.

KRA eyes donor project contractors in tax race

The Treasury has set KRA a target to collect Sh1.938 trillion in tax and other revenue in the current financial year, up from Sh1.58 trillion last year, from an initial Sh1.81 trillion earlier in that year.

How Nigeria's Common Reporting Standard Regulations will affect banks, insurance companies, asset managers and other financial institutions

Broadly speaking, financial institutions such as banks, insurance companies, asset/portfolio managers, and investment funds/trusts could have reporting obligations under the CRS.

Nigerian Access Bank enters the Cameroonian market

As required by the rules in force, the launch of Access Bank Cameroon’s activities in Cameroon is still subject to the issuance, by the Ministry of Finance and the banking commission COBAC, of various legal notices and authorizations to the bank&

Kenya bars government officials from joining state boards

Consequently, selection of alternate directors should be on the basis of subject matter expertise, knowledge and experience and be persons of integrity,” said Mr Kinyua.

Chase Bank ex-chair's illicit plan to open Somalia bank

The Iman Group was the platform Mr Khan and Mr Cheema planned to use to open a new bank in Mogadishu, Somalia.

African Bank approves Zimbabwe economic restructuring plan

“Zimbabwe has the potential to recover from its present challenges, given the reform efforts that the Government is currently pursuing,” he said.

Regulation of Crypto Assets

Crypto-investors and users, as well as crypto-asset service providers, are exposed to high risks.

Enforce banking regulations to strengthen sector – Dr. Richmond Atuahene

Commenting on the state of the sector going forward, Dr. Atuahene said a key area of focus for the Central bank should be a reduction in the high level of Non-Performing Loans in the country.

The Eco: The Devil Is In The Detail

Therefore, either the WAMU countries accept the monetary policies and authority of the Central Bank of ECOWAS or they leave the Eco zone.

Sudan opens up gold market in bid to raise revenue

Any added revenue from the new system would help Sudan’s government cope with severe economic pressure as it tries to navigate a three-year political transition.

African Development Bank hands over US$10 million grant to Zimbabwe

The minister welcomed the grant saying the support had come at an opportune time when government was prioritising good governance in order to strengthen economic development of the country.

Regulation,Tax & Compliance