Managers of Wealth Africa

East Africa: Further cut in Kenya; on hold in Uganda – Standard Chartered

Below-potential economic growth and a near-term improvement in CPI favour more easing in Kenya.

UK reaffirms commitment to Africa’s economic transformation

The UK is a long-standing strategic partner of the African Development Bank Group and its contribution to both the replenishment of the Fund and the capital increase of the Bank sends a strong signal of mutual trust.

Banks: Stepping up African expansion amid competition

There is speculation that the lender has its eyes on 22 more countries on the continent, including South Africa, Ivory Coast, Liberia, Senegal and Angola.

Law loophole denies bank customers billions in relief

The Business Daily reached out to Equity, KCB and I&M but the banks were yet to comment on the matter by press time Monday.

Treasury nets Sh64bn in reopened five, 10-year bonds sale

Investors were keen on the five-year tranche due to the dearth of short-term bond offers in recent months, with the government raising Sh44.5 billion on this tranche and Sh19.3 billion on the 10-year.

Zimbabwe: U.S.$2 Billion Lost to Graft Annually

The practice has come to be known as “catch and release” in common parlance.”

South African regulator fines asset manager

If this is not the case, the legislation criminalises the promotion of investments in these unapproved or unregulated investment vehicles.

Portuguese hacker says he is behind Angola corruption leaks

Lawyers for a Portuguese computer hacker said on Monday he was responsible for revealing the dealings of Angolan billionaire Isabel dos Santos, a corruption scandal with fallout across Europe and Africa.

Bank of Namibia 'went easy' on Dos Santos

This is in direct contravention of Namibian policy objectives aimed at capping foreign ownership in key business sectors.

South African rand rises as demand for riskier assets picks up

The appreciation in the rand appears to be mostly driven by external factors, specifically the pull back of the U.S. dollar as well as a bit of risk-off trade falling.

Al Salam Bank Strengthens Ties with Seychelles

They discussed the ongoing progress at Al Salam Bank-Seychelles, a joint venture between ASBB and the Seychelles Pension Fund, and its contribution to the development of the domestic financial services industry in the Seychelles.

PenCom seeks reconciliation of non-credited contributions

The monthly Compliance Reports are one of the monitoring tools instituted to monitor the level of compliance with the PRA 2014 and other identified lapses.

Old Mutual pledges $8.3bn to building sustainable economies‘

A lot more can be done if the right frameworks are in place in the public-private partnership model,’ declares Old Mutual’s Ian Williamson.

Nigeria, SA financial performance in 2020 weakens Africa’s economic growth — World Bank

This will give people more voice in the contracts and commitments made by their governments, a critical basis for implementing the rule of law.

Zimbabwe bets on currency deal with China to lift trade

The two countries can now fix exchange rates at the beginning of transactions to prevent currency fluctuations.

African currencies now to be accepted in UBA’s branches

Oliver Alawuba, the Chief Executive Officer, UBA Africa said: “Africa stands to benefit substantially from intra-Africa trade, which is facilitated by the easy flow of capital within the continent.

Central Bank of Nigeria increases banks' loan-to-deposit ratio

According to Bloomberg the report, the measure was among a raft of regulations aimed at forcing banks to boost credit, mainly to farmers, small-and-medium-size businesses and consumers.

Licensing ban spurs acquisitions of banks

The latest entrant Access Bank of Nigeria revealed in a conference call to investors and analysts that it had to settle on buying loss-making Transnational Bank due to the bureaucracy involved in getting a greenfield licence.

British Prime Minister, African Leaders urge Investors to accelerate Economic Role on the Continent

African Development Bank President Akinwumi Adesina announced a new $80 million Bank-DFID infrastructure financing partnership .

Niger gov seeks assembly’s approval for N25bn Sukuk bond

The 8th Assembly noted that the contingencies, professional fees, underwriting and consultancy fees inclusive of the 17 per cent interest rate which was to the tune of over N10 billion were too much.

Regulation,Tax & Compliance