Managers of Wealth Africa

Abu Dhabi Fund To Deposit $250m Into Sudan’s Central Bank

The deposit is part of a $3 billion grant to Sudan announced by Saudi Arabia and the UAE earlier this month.

Zimbabwe scrambles to resolve cash crunch

The country faces a worsening economic crisis and partial liberalisation of the foreign currency regime has not brought a respite.

Credit Suisse Hit With Criminal Complaint Over Mozambique

The Swiss complaint is awkward for Credit Suisse, which has sought to downplay its ties to the oil- and gas-rich eastern African nation.

Motive Labs Forms Strategic Partnership With Standard Bank

Today's deal will also help strengthen our trading relationship with Africa and will go further to fulfil the Prime Minister's promise to be the largest G7 investor in Africa by 2022.

Expats fear expulsion as South Africa moves to tighten job terms

Bonang Mohale, chief executive of Business Leadership SA, an association dealing with government and labour, said the draft was "much shorter and restrictive", removing some sectors like architecture and reducing others like life and earth scie

AU Commission prepares for single market launch in July

The AfCFTA brings together a continental single market, which is expected to increase intra-African trade by 52 per cent come 2022, remove tariffs on 90 per cent of goods, liberalise services and tackle other barriers to intra-African trade.

KCB pays Sh10 in takeover of collapsed Imperial Bank

The regulator shut down Imperial Bank in 2015

South Africa’s Biggest Labor Group May Be Prepared to Discuss Eskom Job Cuts

In June, Eskom had to implement rolling blackouts when workers protested plans for zero pay increases and in February union members picketed at the company’s headquarters over potential job cuts.

Botswana’s high expenditure to boost economy-central bank

Overall, in the short to medium term, Pelaelo said the economy was projected to operate close to, but below the full capacity, thus posing no upside risks to the inflation outlook.

Tanzania denies blocking release of scathing IMF report

Tanzania's Minister of Finance and Planning, Philip Mpango. The minister says its ongoing talks with the IMF were aimed at incorporating Tanzania’s views into the final report before its official publication.

Nigeria Has a New Biggest Bank After Access-Diamond Deal

It still has a way to go before becoming the most profitable bank in Africa’s main oil producer: its first-quarter net income of $112 million trailed Zenith and Guaranty Trust Bank Plc, which each made about $135 million.

Kganyago Says South Africa Central Bank Ownership a ‘Zombie Debate’

The shareholders have no say over monetary policy decisions and the central bank’s mandate -- to target inflation -- is set by the government.

Nigeria: Govt to Develop Framework for Mobilising Revenue From Non-Oil Sector

The president stated that no nation could make meaningful progress without stability

African Development Bank signs 50/50 risk-sharing agreement with Natixis bank

The 50/50 risk-sharing agreement covers a portfolio of commercial transactions totalling US$100 million, which will support commercial operations worth US$600 million in Africa over the next three years

The AIIB approves the membership of three African countries

These countries are Egypt, South Africa, Ethiopia, Kenya and Sudan.

DMO Sells N100bn FGN Bonds Today

Already, 13 financial institutions have been authorised by the Nigerian government to sell the bonds to investors.

Andersen Global Marks Growth to 50 Countries with Collaborating Firm in Zambia

The addition of MMKLP brings the number of countries with a legal presence through the member and collaborating firms of Andersen Global to 41.

African Alliance Group’s withdrawal from USE signals hard times ahead

Prior to its exit from the stockbrokerage business, African Alliance Uganda had in 2010 suspended its unit trust services, citing a low asset base, fluctuating interest rates and poor returns on investment.

Kenya: Bank Mergers Signal Sharper Job Cuts

The proposed transaction to acquire NBK will further consolidate the banking sector in Kenya

Access Bank pledges ₦1Billion to promote SMEs in the health sector

As a bank, we have a role to support the economy anyhow we can and how we do that is by empowering our customers.

Regulation,Tax & Compliance