Managers of Wealth Africa

South Africa: Absa Bank seeks new direction after Barclays exit

Widely considered South Africa’s least adaptable major bank and the most unappealing to investors, Absa Bank has at times struggled to keep up with market fluctuations.

How the CBN’s OMO restriction is affecting the market

It has to do with the need to also support the initiative of the CBN such that funds will be available for the domestic SMEs.

Bank of Namibia keeps repo rate unchanged at 6.50 percent

The new regulation relating to restrictions on loan-to-value ratios issued in terms of the Banking Institutions Act, 1998

I’ve never collected kobo as pension from River state

The minister said he would turn down pension if offered to him.

NSE partners with AfDB, African exchanges to boost investment

The joint initiative will facilitate cross-border trading and settlement of securities across participating exchanges in Africa

Banks pay lowest rates on savings in 36 months

compelling banks to pay depositors at least 70 percent of base lending rate. This means customers have lost Sh1.75 for every Sh100 in their savings accounts since the law was changed

NLC tackles bank on 1,000 workers’ retrenchment

President of the NLC, Comrade Ayuba Wabba, said that rather than retrenching such a huge workforce, the bank should put in place measures to protect their rights at the work place.

Development bank approves $210m for Nigerian transmission grid project

The Bank’s financing, comprising a $160 million loan, and an additional $50 million loan from the Africa Growing Together Fund, will support construction of 330kV double circuit quad transmission lines and substations across the country.

APU: African lawmakers laud Buhari as Kalu speaks on FG’s strides

Kalu, while delivering his address at the conference, canvassed for youth participation in governance in Nigeria and other African countries.

UAE investments into Africa to flourish says Standard Chartered exec

Government-backed and private sector entities scale up activities ahead of pan-Africa free trade deal

Retirement Benefits Authority functions, offices, and contacts

Retirement benefits regulations, as well as other ongoing reforms, have become a significant part of the pension scheme sector after actualization of the Retirement Benefits Act Kenya.

South Africa Planning New Regulations to Prevent Use of Crypto for Capital Flight

The new rules are expected to go into effect Q1 2020.

Gordhan says SAA in ‘intense discussions’ with lenders, calls on public to buy tickets

The finance minister's latest statement comes after Flight Centre on Thursday said it would stop selling SAA tickets until "certainty" returned to the market.

‘NPRA’s directive to SSNIT will result in financial crisis’

The past credit is the contribution of workers to SSNIT before the coming into force of Act 766, which brought about the three-tier pension scheme.

Investec seeks $242m from asset sale

Investec shareholders will receive one Ninety One share for every two Investec shares, both for its Johannesburg and London-listed stock.

UGANDA: Gov’t moves to regulate financial technologies

One of the challenges was that the government had failed to agree on the regulatory responsibility under which Fintechs lie since they intersect between financial services and telecommunications.

Nigeria to allow more payment providers to boost banking access

The measures come as lenders in Africa’s most populous country of almost 200mn people make a push into retail banking to ward off potential competition from mobile-network operators.

Anti-money laundering: Nigeria setting pace in Africa

As we expand and improve on our curriculum, the partnership that we have internationally enables us best practices to our compliance officers and so we will continue to partner with organisations.

GCC governments spur investment in Africa

Abu Dhabi Fund for Development has been at the forefront of this activity, having funded more than 66 projects in 28 African nations to a value of $16.6bn.

Kenya and Oman sign landmark agreement to strengthen their tax treaties

The Convention also enhances the dispute resolution mechanism, especially through the addition of an optional provision on mandatory binding arbitration, which has been taken up by 30 jurisdictions.

Regulation,Tax & Compliance