Managers of Wealth Africa

African governments team up with tech giants to fight coronavirus lies

Twitter has been tweaking its algorithm to elevate medical information from authoritative sources - an initiative available in 70 countries, including five in Africa.

Ethiopia’s central bank embraces fintech, mobile payments for operators

As Capacity reported last year, the government of Ethiopia, which came to power in early 2018, led by prime minister Abiy Ahmed, has already announced its determination to liberalise the telecoms market in the country – but details until now have be

European megabanks eye African American-owned banks for US entry

The first likely beneficiary of a minority-owned first policy is Washington, DC-based and family owned Industrial Bank

South Africa’s RMB Urges Coordinated Effort to Soften Virus Blow

RMB is customizing relief packages to clients, Formby said.

Statement On Measures Taken By Ecobank Kenya Limited to Safeguard Its Customers and Staff From the Covid-19 Pandemic

Mr. Travaly urged customers to take advantage of Ecobank's robust digital banking platforms

African Development Bank wins industry gong for pioneering 2019 social bond issue

This Environmental Finance 2020 bond award was given by an independent panel comprising 30 of the world’s largest green, social and sustainability bond investors

African Development Bank approves $2 million emergency assistance for WHO-led measures to curb COVID-19 in Africa

The grant will be used by the world body to equip Regional Member Countries to prevent, rapidly detect, investigate, contain and manage detected cases of COVID-19

HF cuts lending by Sh4.8bn, shifts from real estate model

The shift decelerated HF’s lending by 11.3 percent from Sh43.4 billion to Sh38.55 billion as the bank went in search of new opportunities in an environment of a slowed down property market.

Fidelity Bank cuts profit target as coronavirus hits Nigeria

“We assume that Q2 is going to be soft after the disruptions associated with coronavirus,” he told Reuters by telephone.

Old Mutual pledges N$5 million for Covid-19

Old Mutual Namibia recognises that a large portion of the poor and the vulnerable receive their limited income from daily/hourly labour, which they will not be able to earn during the lockdown, he said.

Standard Bank meeting all capital and liquidity requirements

The bank’s small-enterprise, low-income and student clients will be benefitting from an automatic three-month payment holiday from April 1 to June 30, equating to approximately R35-billion.

Africa central banks slash growth forecasts

East African countries have offered bleak forecasts as well.

Labour minister's plea to employers: Don't shift 'burden' of coronavirus onto workers

Some essential businesses were operating without giving employees the required protective equipment in order to adhere to safety requirements during this time.

Finance ministers seek $100b cushion against coronavirus

With the economic crisis unfolding as the number of infections and mortality rises, Africa is appealing for a speedy disbursement of the bailout package

Buhari Exempts Financial Services Operators from Lockdown

The exemption comes as the boost in lending and other business activities have propelled higher earnings for the foreign subsidiaries of four of Nigeria’s tier 1 banks, the full year audited results of the financial institutions have shown.

Nedbank details how small firms can tap Oppenheimer fund to cover employee wages

Nedbank said it will only consider applications from its client base.

Customers storm banks as Nigeria shuts down

The same scenario repeated itself yesterday in the wake of the 14-day lockdown announced by President Muhammadu Buhari on Sunday.

Assets frozen after the death of a loved one – How does my family survive?

In South Africa, the estate must be reported to the Master of the High Court office in the regional jurisdiction where the deceased resided.

All financial institutions should work during lockdown - Bank of Ghana

President Nana Akufo-Addo in a broadcast last night, Friday March 27, announced a partial lockdown of some parts of the country for two weeks in a bid to contain the spread of the novel coronavirus pandemic.

Old Mutual faces potential money laundering charges in Zimbabwe

It is also alleged that fungible stocks provided some of the shareholders a conduit to launder money out of Zimbabwe.

Regulation,Tax & Compliance