Managers of Wealth Africa

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.

AfDB’s Sh3.8bn to fund Kenyan, African agribusiness and SMEs

The agreement covers operations cumulatively valued at $37.2 million and includes a corporate loan to support an East African agribusiness firm’s domestic and regional expansion and two lines of credit targeting SME borrowers.

Bankrupt Portland Cement paid fired CEO Sh23m

The reports further showed that the EAPCC board of directors took home a staggering Sh47 million even as the company continued to suffer cash flow problems which saw it default on a Sh263 million KCB Group loan.

How Africa’s richest woman bought her way out of scrutiny from Western banks

Dos Santos denied the allegations as “politically motivated.”

Women entrepreneurs pitch innovation for Africa to UK investors

The Department for International Trade and the Department for International Development hosted Start-up Night Africa in partnership with the Lionesses of 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.

Regulation,Tax & Compliance