Managers of Wealth Africa

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.

Africa demands taxing rights on digital economy

Further, tax administrations have been challenged to invest in retraining their tax officers to equip them with the necessary tools to address the challenges of digitalisation as well as tackling other tax issues such as taxing the informal sector, extrac

Stanbic management, employees ink wage deal

This agreement comes after Stanbic advanced its employees $1 000 in allowances to avert a strike mid last month

Global sukuk issuances up 5.5% in 2018

The steady issuance volume is due to sovereign sukuk issuances from Asia, GCC countries and Africa

African regulators set to tighten up on mobile money

Although mobile operators had talked about creating a money transfer service for a while, it was wasn’t until Safaricom introduced M-Pesa that talk turned into action.

Nigeria: Heritage Bank, Afreximbank, Zamfara Sign $1bn MOU On Agric, Solid Minerals

He said this bold initiative would help unlock massive opportunities inherent in solid minerals and support efforts on local content promotion, facilitate industrial development and export development.

How Islamic Banking will operate in Uganda

Parties to any transaction in this banking system are obliged to conduct their business affairs, with a focus on what is permissible and lawful under Sharia law.

Nigeria: Access Bank, GE Partner to Reduce Healthcare Delivery Cost

"This partnership will help healthcare providers to get loans and invest immediately.

'Old Mutual has accused Moyo of wrongfully pocketing dividends from NMT Group'

Moyo was fired in June for alleged misconduct owing to the conflict of interests in his NMT Group.

Sasfin Bank Sanctioned for Non-Compliance

"It should be noted that the administrative sanctions were not imposed because Sasfin Bank was found to have facilitated transactions involving money laundering or the financing of terrorism," said the SARB.

BoG commends CBG for delivering strong banking service

At the initial stage, there were challenges and doubts but under good management, the story is positive now.

In East Africa, regulators at a crossroads over falling share prices

A study carried out by the Capital Markets Authority of Kenya whose findings were released last year shows that there is emerging stiff competition from quick return vehicles including real estate, mobile money products and sports gambling.

Regulation,Tax & Compliance