Managers of Wealth Africa

Banks make lower profits after banking on government bonds

The banks’ investments in Treasury bills and bonds grew at 16 per cent this year, down from 25 per cent in the same period last year, according to analysts at Cytonn Investments.

Tanzania issues new rules to tighten foreign currency exchange controls

The Tanzanian shilling has been broadly stable since the beginning of the year and the International Monetary Fund said in an April report that the real value of the currency is “broadly in line with fundamentals”.

South Africa Working on New Oil, Gas Policy to Enable Growth

Regulation to be separate from mining sector’s, minister says

Bank of Ghana authorises merger between Access Bank Ghana and Diamond Bank in Nigeria

The Bank of Ghana has authorised a merger between Access Bank and Diamond Bank in Nigeria.

New rules to protect Kenyan Sacco members

Through a circular to the chief executives of DT-Saccos, seen by The EastAfrican, the industry regulator said the existing regulatory framework governing the operations of DT-Saccos is inadequate and has left customers exposed to market abuse.

People problems between the Gulf and the Horn of Africa

Migration trends threaten to exacerbate the region's socioeconomic troubles.

Standard Chartered Bank, Ghana Commodity Exchange sign MoU

The collaboration would also see the two institutions build a framework for settlement of trade in a manner which meets the GCX’s prompt settlement promise of within 24hours.

Government urged to resolve energy debt challenges on banks

The banks will end up collapsing again because the LCs are coming from the banks…” he said at a minority press conference held to address concerns in the energy sector debt at Parliament House.

Zimbabwe mops up $190m local liquidity to support Zim dollar

This will help mop up as much as ZWL1.2 billion, with experts saying this was meant to deal with excess liquidity on the market.

Zimbabwe Central Bank Abolishes Use of Foreign Currencies

With immediate effect, the U.S. dollar, South African rand and other foreign currencies will no longer be recognized as legal tender in the southern African nation

Gulf African Bank inks IFC advisory deal for SME lending

The SME sector plays a very important role in creating jobs and fostering sustainable economic growth.

Comply with data protection laws — Commission

The act sets out the rules and principles governing the collection, use, disclosure and care for personal data or information by a data controller or processor.

China keeps Uganda, Kenya guessing on SGR loan

The meeting, according to the Chinese Foreign Affairs ministry, is aimed “at discussing an implementation” plan of last year’s heads of state FOCAC summit agenda on security, trade and development, and specifically the $60b (about Shs224

South African president outlines new infrastructure development policy

The government has set aside 100 billion rand (about 6.9 billion U.S. dollars) for the Infrastructure Fund announced by Ramaphosa in February.

Zimbabwe President Wants New Currency, IMF Loan in Revival Bid

The introduction of a new currency is crucial to his efforts to revive the economy, said Mnangagwa

CBK boss puts mobile money lenders on notice

He also said that the bank will not tolerate lenders who want to frustrate the taxpayers through loans.

African Bank moves to stem client exodus, safeguard S.African comeback

Next year it plans to launch an overdraft facility in a bid to make the new account, called MyWorld and which it says is already the cheapest on the market, more attractive.

CBK to label digital lenders in consumer protection bid

The governor who spoke during the rollout of Stawi loan app at Kondele market in Kisumu underlined the need for digital lenders to be guided by the interest rates caps introduced in 2016.

Banks have role in clean, open procurement

The scams have largely featured procurement anomalies and unusually huge financial transactions in banks, through which public money is siphoned.

CBK warns digital lenders over customer exploitation

CBK Governor Patrick Njoroge has raised concerns over the increasing number of mobile loan apps.

Regulation,Tax & Compliance