Managers of Wealth Africa

CBK roots for Treasury SMEs credit guarantee

The Treasury first floated the proposal for a credit guarantee scheme in May 2018

Nigeria: COVID-19: Economic, tax, and other fiscal stimulus measures

Relevant federal and state agencies also have announced various measures of their own.

Jonathan opens up as Buhari Govt searches for U.S. ‘bank accounts’

It insisted that between that time and the present, nothing has changed about the former Nigerian leader.

Standard Bank says CSA’s governance simply wasn’t cricket

The bank’s R100m-a-year sponsorship of the cricketing body will not be renewed after April

How to inject funds into your small business to survive Covid-19

Risk-sharing mechanisms in the scheme balance the need for government to support qualifying businesses, with ensuring the continued safety and soundness of the banking system. Similar schemes have been rolled out in over 50 countries in recent weeks.

Private sector donations to Coronavirus hit N27.160bn — CBN

The document containing the list of contributors showed that the donations were made by institutions and individuals across the country.

Standard Bank grants over R1 billion instalment relief to 150 000 clients

The lender said it was in consultation with the government on the implementation of the scheme and would be ready to receive applications as soon as all industry parties had concluded engagements and signing arrangements.

Nigeria: Inside Nigeria's Opaque Multibillion-Dollar Asset Recovery Deals

As much as $5.5 billion is at stake for Nigeria in its efforts to seek justice over the notorious OOPL245 asset deal dating back to 2011, which it claims consists of allegedly stolen funds and damages.

Communicate State’s economic plan

In Kenya, we have only seen government giving us epidemiological scenarios, but we are yet to hear their trade-off with economic scenarios.

SA seeks R95 billion from IMF, World Bank, NDB

The package includes a R200 billion loan-guarantee programme, tax-relief measures and R130 billion that will be diverted from existing budgets.

Nigeria: We're Not Against Online Teaching - Lagos Govt

The commissioner described online teaching and learning as the future and most effective method in the face of the ravaging coronavirus pandemic.

Pension, insurance sectors propose suspension of deductions to save jobs

TASK has formed a Covid-19 taskforce to support the government in assessing the potential financial risks posed by the outbreak.

Kenyan banks warn of revenue loss as borrowers shielded from costs

The banks now warn of a possible financial crisis due to the anticipated revenue loss from these measures.

Coronavirus | Banks may need to pitch in more to save SA businesses, says Investec CEO

And because most people understand that the drastic lockdown measures the president took were necessary, they will most likely "respond appropriately".

Central bank revokes cash service provider’s trading licence

The revocation comes at a time the firm had plans to partner with licensed financial institutions such as banks, forex bureaus and mobile cash agents to grow its footprint in Kenya.

African Energy Chamber calls on the Bank of Central African States to relax Forex Rules

New rules notably state that all foreign exchange transfers over $1,680 be vetted for approval by the bank

CBK directive to create new credit-scoring platforms

These so-called thin files often present a big challenge to CRBs since there is no way to assign them any score in the absence of borrowing history.

Treasury’s overdraft at CBK hits Sh64bn high

Money accessed from the overdraft, which is a temporary source of funds to cater for emergencies and priority payments, helps the Treasury finance short-term needs such as salaries and other recurrent expenditure like debt repayments.

A R200bn shot of adrenalin for the formal economy

The R200bn loan guarantee fund is likely to be the medicine South Africa’s stressed corporate sector needs if it is to survive the Covid-19-induced economic crisis.

The crisis can ‘galvanise all of us to eradicate inequality’

To lessen the damage being wrought by the response to Covid-19, the coronavirus budget mixed increased grants with more money for infrastructure and to keep businesses open through spending by state institutions and loans from local and international inst

Regulation,Tax & Compliance