Managers of Wealth Africa

Lord Hain: Still a lot going for SA

During the USB-ED presentation, Hain argued that South Africa by no means operates in isolation.

Alarm as four firms sack 1,700 staff in three weeks

Stanbic Bank was the first about three weeks ago to announce a redundancy targeting an estimated 200 staff, while Athi River-based cement maker EAPCC last week said it would let go all its 800 workers.

Treasury orders parastatals to surrender all cash

Treasury principal secretary Julius Muia in an interview said the directive is in line with the law and a prudent way for the government to cut its cost of borrowing.

Bank of Tanzania moves to curb forex black market as 12 seized

BoT Bureaux de Change manager Victor Tarimu said that the Finance sector’s regulator was working closely with security organs to curb illegal money exchanging channels.

Standoff as MPs reject KCB’s buyout of NBK

NSSF holds 48.05 percent shares of NBK, while the Treasury controls 22.5 percent, giving them 70.5 percent total ownership.

Treasury to bail out Consolidated Bank

“We are aware and support the request by Consolidated Bank for an extension of three months to pay the note holders.”

African Union, AfDB Sign $4.8m Grant For Continental Free Trade Operation

The Continental Free Trade deal has the potential to create the largest free-trade area in the world.

Treasury seeks Sh150bn fresh syndicated loan

Despite the Eurobond being relatively cheaper especially at a time when the United States Federal Reserve Bank is cutting interest rates, Treasury officials are said to be more in favour of the syndicated loans that do not ordinarily attract much public a

South Africa's central bank governor says will go to war to protect independence

The central bank governor said that he would not engage in internal ANC party squabbles, but he would strongly defend the central bank’s independence if it was threatened by any government proposals.

Eye on debt, cost of credit as CBK boss takes on term two

The focus of the governor has been on bank supervision to ensure that they meet prudential guidelines mainly related to liquidity, governance and banking operations,” says Mr D’Souza.

Bank of Baroda SA fined R400 000 by Reserve Bank regulator

Bank of Baroda has been accused of facilitating questionable transactions for Gupta-linked firms.

South Africa: Bank of Baroda Slapped With R400k Fine

The SARB said the Bank of Baroda had since paid the imposed financial penalty into the Criminal Assets Recovery Account

Banking union plans largest strike since 1920

South African lenders are cutting jobs as they seek ways to lower costs and contend with slow economic growth and fresh competition in the industry from branchless, digital entrants such as TymeBank and insurer Discovery.

Oversubscribed syndicated loan for Ghanaian bank attracts 14 lenders

The syndication included 14 lenders, which have not been named.

Nigeria: The new policy on loan monitoring

Failure to meet the minimum requirement will result in a levy of additional Cash Reserve Requirement (CRR) which is the minimum amount of the total deposits that commercial banks are statutorily required to keep as reserve with the apex bank.

Ghana, Morocco strengthen ties to boost bilateral cooperation

Moroccan companies are present in Ghana in the production areas of energy, fertiliser, housing, building materials and banking.

Access Bank’s journey to becoming the gateway to Nigeria’s banking sector

Nigerian banks must continue to push the boundaries of innovation if citizens are to profit from the country’s transition to a digitalised financial system

Regional bank rates steady amid South Africa rate cut

The Bank of Namibia left its benchmark repo rate steady at 6.75 percent on 12 June, to support the economy's recovery.

Massive banking strike planned for South Africa

South African lenders are cutting jobs as they seek ways to lower costs and contend with slow economic growth and fresh competition

Nedbank pledges US$140m support

Nedbank Zimbabwe also has a US$15 million tobacco pre and post-shipment facility, a US$15 million Nedbank group tobacco pre and post-shipment and a US$35 million facility for letters of credit for facilitation of imports of strategic commodities.

Regulation,Tax & Compliance