Managers of Wealth Africa

Africa: USAID, UBA Sign MOU to Advance Trade, Investment in Africa

The MOU enables UBA, the only sub-Saharan African bank licensed to operate in the United States

Standard Bank, Merchant Capital launch product to address SME funding gap

A first of its kind in Southern Africa, the Merchant Capital Advance certified as Shari’ah compliant by Standard Bank Shari’ah Banking, allows small and medium-sized enterprises (SMEs) with a point-of-sale device.

Ghana’s Banking Sector Crisis And Its Impact On Correspondent Banking Activities

This comprises Banks (Ghs11.7bn), Savings and Loans/Microfinance Institutions (Ghs2.4bn), Fund Managers (Ghs1.5bn) and Ghana Amalgamated Trust (GAT) (Ghs0.8m)

Confusing fiscal policies worry Kenya investors

There has been a gradual rise in the interest rates for short-term government securities, attributable to the fact that the Treasury is under pressure to meet its domestic borrowing target.

Lack of Quality Cybersecurity Workforce Hurting West African Banks

The analysis highlights that the lack of skilled and qualified workforce and lesser investments in cybersecurity has made West African banks vulnerable to cyberattacks including bank card fraud, phishing, intrusions, etc.

‘Cyberattacks, biggest threat to African businesses’

It cited an African cybersecurity study by Demadiur Systems Limited, which revealed that banks, insurance companies and government institutions in Nigeria spent an estimated sum of $270.22m in 2018 to prevent cyberattacks.

Angola set to attract more Foreign Direct Investment (FDI) into Oil and Gas; Part-Privatization of Sonangol by 2022 a key measure

Initial successes include significant cost reductions at the national oil company (NOC) Sonangol that have led to the government deciding to list up to 30 percent of the company

Kenya set for March talks on standby loan

They’ll be coming at the end of this quarter sometimes in February or March.

Standard Bank and Feenix raise over R30m for students through crowdfunding

The real impact of this is that thousands of students can continue their studies without having to worry about funding them.

Egypt- World Bank Group, Partners launch new initiative to expand A2F for MSMEs, drive growth, jobs in MENA

As a result, MSMEs in MENA have among the lowest levels of usage of bank loans in the world, the statement said.

Kenya, France to enhance cooperation on development projects

Yatani acknowledged the fact that the Government of Kenya and France continue to enjoy very solid development cooperation, economic and business relations spanning over decades and that Kenya is committed to sustaining the relationship.

Kenya Further Lowers Its Central Bank Rate

Overall inflation is expected to remain within the target range in the near term due to lower prices of fast-growing food items following the continuing rains, and lower electricity prices.

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.

Regulation,Tax & Compliance