Managers of Wealth Africa

Africa dreams of free trade as red tape rules on the ground

Cargo trucks face long delays at Kenya, Tanzania border

South African government issues $5bn in bonds

The 10-year bond priced at a coupon rate and re-offer yield of 4.85 per cent which represents a spread of 313 basis points above the 10-year US Treasury benchmark bond.

Sanlam announces retrenchment plan targeting staff aged above 50

Sanlam seeks to rationalize staff within its life and general insurance business to cover 193 employees whose average age currently picks at 35.

A strong case for dropping CBR as monetary policy tool

Fear of uncertainty can make people hoard cash, or make bankers hesitant to lend and borrowers afraid to take credit.

Regulator warns Kenyans against forex trading platform

CMA has said Interweb Global Fortune has been operating as a pyramid or ponzi scheme, where investors are promised high returns or dividends which are not realistically available

CBK Announces More Mergers In Kenya’s Banking Sector

“The treasury is setting fiscal deficits each financial year and if this continues to happen, we shall have a scope of monetary accommodation,” said Mr. Njoroge.

Kenya parliament rejects request to remove interest rate caps

Lawmakers voted by acclamation to reject the Finance Ministry’s request on the caps contained in the 2019/20 budget

No new banking applications yet — Bank of Ghana

There had been concerns in some circles that the central bank was processing fresh applications for banking licences two years after the financial sector clean-up.

Google seeks to set rules in digital lending ‘Wild West’

To continue accessing the Google App store platform, the multinational has asked apps for personal loans to disclose maximum Annual Percentage Rate (APR), which generally includes interest rate plus fees and other costs for a year, or similar other rate c

South African Court Blocks Biggest Bank Strike Since 1920

Labor court ruling may affect nationwide strike on Oct. 7

Tanzania fines five banks for lax anti-money laundering controls

The regulator gave three months to the sanctioned banks to implement various anti-money laundering measures, which include taking disciplinary action against all staff members “who were involved in opening implicated deposit accounts contrary to KYC

Moyo: Old Mutual director's resignation isn't a coincidence

Old Mutual has prevented him from resuming his duties despite the initial court order, in a move that has created a protracted legal and corporate impasse.

UN, African Development Bank High-Level Meeting calls for Speed and Action on Sustainable Development Goals

The meeting, convened by the African Development and the United Nations, is "the first of its kind" between the two institutions taking place at the UN Headquarters, UN Deputy Secretary General Amina Mohammed said.

Banks still net job creators says industry body as strike looms

The planned strike on Friday against job losses is being organised by South African Society of Bank Officials, which boasts of having 50 000 members.

Fired Old Mutual CEO Moyo Seeking New Ways to Get Back to Work

Moyo at the end of July successfully challenged the insurer’s decision to dismiss him, and has also filed an application to hold the company and its directors in contempt of court.

Islamic finance is an opportunity for Africa – Moody’s

With $500m worth of sukuks issued in Africa over the past year, Moody’s points out that the continent accounts for only 0.5% of the world’s sukuks in circulation

Why new CRB listing rule signals costly digital loans

The rule exerts pressure on lenders, which are likely to, in turn, react to minimise the possible risks that may come along with.

Late Mugabe’s estate: The skeletons are also hiding

Either the ex-president had a fabulous genie that has managed to splendidly hide all that wealth, or there is none, or something.

Tanzania fines Kenyan banks for flouting rules

The Bank of Tanzania (BoT) said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).”

Joint declaration by the African, Caribbean and Pacific group of states and the European Union on the 2030 Agenda and the Sustainable Development Goals implementation

With the underlying “leaving no-one behind” principle, the Sustainable Development Goals (SDGs) are universal and indivisible

Regulation,Tax & Compliance