Managers of Wealth Africa

Africa’s offshore wealth: feeding inequality

Rise of Africa’s rich has been good business for banks but less good for development

Update 1-Kenya central bank evaluates offers for closed Chase Bank

Mid-sized Imperial Bank was taken over in October after fraud was uncovered. Two months earlier, smaller lender, Dubai Bank, was put in receivership.

New Bank of Ghana governor commits to IMF plan to stabilise economy

At the same time, gross domestic product growth has fallen from about 14% in 2011 to 4.1% last year

8 Banks Pay N3.32bn As Fine In 2015

For contravening various rules, including late remittance of funds under the Treasury Single Account guiding the Nigerian banking industry, eight banks last year paid a total fine of N3.323 billion.

Central Bank of Kenya Puts Third Lender in Receivership

Chase Bank, which will be in receivership for one year, suffered a rapid loss of liquidity as customers withdrew their deposits over concerns about the lender’s viability and management.

Banks strengthen offshore operations

The Central Bank of Nigeria had set N100 billion minimum benchmark for a bank’s offshore licensing, in order to ensure that only highly liquid lenders operate offshore units.

Kenyan Cenbank governor says commercial bank lending rates still need to fall

Governor Patrick Njoroge told a news conference on Wednesday commercial banks

Kenya's central bank puts Chase Bank Ltd under receivership

The receivership of Chase is the third by the central bank since the second half of last year.

South Africa: Minister Pravin Gordhan Instructs Investigations Into Offshore Holdings

The SA Reserve Bank also monitors cross-border flows, with some transactions requiring specific approvals through authorised dealers.

The Panama Papers allegations are not representative of the offshore financial industry

The comments from Nigel Green, founder and chief executive of deVere Group, follow a major leak of confidential documents from Panamanian law firm, Mossack Fonseca.

Nigeria: CBN Allocates U.S.$921 Million to Banks in One Month

It was sufficient, nonetheless, to show that actual demand for forex stood at almost $9.21 billion during the month, given that the CBN only manages to meet 10 per cent of banks' demand for forex.

CBK should randomly audit banks

These banks had been permanently locked into the CBN’s discount window borrowing money to meet daily obligations when in fact they should have been net givers of liquidity to the system.

New legislation to expand Kenya’s financial sector

Kenya is undoubtedly the financial center of the East African Community, however as Cabinet Secretary at the National Treasury Henry Rotich explains, it aims to extend beyond the EAC’s borders to become a financial focal point for Africa as a whole

Panama Papers finger Zuma family in world’s ‘largest’ financial data leak

Another week, yet another Zuma family scandal. This time, it's little oll' Khulubuse Zuma who's been named in what's being called the largest data leak in history.

Foreign banks comply with Zimbabwe's indigenisation law

Finance Minister Patrick Chinamasa said empowerment plans from Barclays Plc, Standard Chartered Plc, Old Mutual Plc and its two banking subsidiaries as well as South Africa's Standard Bank and African banking group Ecobank were consistent with the la

Helios scores first for Africa fund with Crown Agents deal

The deal for Crown Agents Bank and its sister asset management company, for an undisclosed sum, marks the first time an African-managed fund has won approval from regulators to acquire a UK financial institution.

Global regulators move closer to regulating fintech

The Financial Stability Board, which met in Tokyo on Thursday, has agreed on a framework for categorizing different components of fintech and assessing their potential risks.

QIIB expects final approval for JV Moroccan bank by Q3

This step was made based on a detailed feasibility study that was conducted by QIIB taking into consideration all factors such as the expected returns of the investment and other market factors.

Foreign firms must comply or exit Zim

South Africa has a major footprint in its northern neighbour.

Has the Brics bubble burst?

Brazil, Russia, India, China and South Africa seem to be failing to justify predictions of 21st century domination

Regulation,Tax & Compliance