Managers of Wealth Africa

South African Reserve Bank says platinum coin concept not viable

The concept of a platinum coin fell short primarily owing to the modest size of the global market for such coins, which the SARB estimates at only 50 000 oz/y.

Zimbabwe central bank says Barclays deal complies with indigenization policy

Zimbabwe's indigenization policy stipulates that foreigners must own a maximum of 49 percent of shareholding in a company while the majority 51 percent is reserved for locals.

Botswana determined to become investor friendly – Minister

His Ministry was reviewing all the legislation and policies to ensure that they were conducive to sustainable mineral exploration, mining and energy development.

Dubai Islamic Bank bets on East Africa for growth

The only licensed Sharia’h complaint banks in Kenya, conventional banks also operating Sharia’h compliant services.

South Africa's central bank wary of cutting rates despite recession: policymaker

We would not want to reduce rates and then be forced into a premature reversal of policy.

Federal Republic of Nigeria to Issue Diaspora Bond

The bonds will be direct, general obligations of Nigeria, denominated in U.S. Dollars.

Global transparency

In recent years, significant changes in global finance regulations mean that every investor should re-examine their personal need for such offshore structures.

New reporting requirements for SA financial institutions

The common reporting standard requires financial institutions to report on their foreign customer base, not just US customers.

Financial Investor urges review of Contributory Pension Scheme

The question is; what will the workers get at the end of the day?

Bank of Ghana suspends issuance of licences to microfinance companies

The BoG had revoked the provisional licences of 70 microfinance institutions, leading to panic withdrawals by some clients.

Deposits insurance plan on track

The scheme aims to protect ‘less financially sophisticated depositors in the event of bank failure’

Nine Listed Banks Pay N643.6 Million for Infractions

Infractions routinely committed year after year by the banks range from late filing of financial reports, abuse of customers' Automated Teller Machine cards, failure to undertake statutory due diligence, violation of anti-money laundering laws, cheat

South African central bank says inflation surprised on downside but remains high

Government officials have been meeting with them in order to convince them to change their minds.

‘First Guarantee Pension Board is Ready to Resume Business’

“We are looking forward to resuming in First Guarantee Pension to take back our business and hand back the business to the directors and shareholders of the company,” he said.

African Bank moves into transactional banking

New digital platform in the pipeline, focus on attracting retail deposits.

Regional banks in Africa need to balance risk with financial inclusion

One of its 14 initiatives is on financial and monetary systems that affect the banking sector..

Empowerment deal in Barclays Africa's sights

The group’s South African operation‚ Absa‚ previously concluded an empowerment scheme worth R5bn

Banks in Rand-Rigging Probe Are in Behind-the-Scenes Negotiations

The lenders that want to settle must agree to an admission of liability.

American bank wants SA’s “vague and embarrassing” rand-rigging probe dropped: report

Bank of America Merrill Lynch was named alongside 13 other banks as respondents in the Competition Commission’s complaint.

Germany demands its $550m from Zimbabwe

In 2004, KfW took its case to the International Court of Arbitration (ICA) after the cash strapped Harare government defaulted on repayments.

Regulation,Tax & Compliance