Managers of Wealth Africa

Mozambique joins Nigeria, Angola in restricting foreign exchange, wealthy shoppers hit

As local currency plummets, Mozambicans will now be allowed to charge only a maximum of $13,600 on their debit or credit cards annually.

South Africa's Treasury says committed to reducing constraints on economy

South Africa Treasury said on Saturday it was committed to reducing constraints on the economy

Expert sees tighter controls for Kenyan banks

Commercial banks and financial institutions should expect enhanced risk-based analysis and supervisions following the recent closure of Dubai and Imperial bank, a financial expert has cautioned.

Nigeria: France, Bodies Pledge U.S.$4 Billion for Africa's Great Green Wall Project

The project addresses desertification, enhances natural resource management and promotes ecosystem integrity in the dryland in the Northern parts of Nigeria.

François Groepe: African central banks and monetary policy challenges

Address by Mr François Groepe, Deputy Governor of the South African Reserve Bank, at the Credit Suisse Africa Conference, Cape Town

Cooperation With Africa African Development Bank Actively Attracts Korean Firms

We hope that the seminar helps Korean companies become interested in and understand African countries’ investment systems and environments better and seek new investment opportunities.

Bank of Khartoum wins nod for Bahrain branch

The Bahrain office will be will the first branch outside Sudan and the first Sudanese Bank that will be holding an Islamic wholesale banking branch license in the Kingdom.

No Bank is in Distress -CBN

The CBN wishes to state categorically that no Nigerian bank is “experiencing stress”.

A major South African bank has been fined in a bribery scandal

The case is the first deferred prosecution agreement in the UK.

ICBC Standard Bank agrees deferred prosecution settlement with SFO

The SFO insisted that full details of the facts of the case and the terms of the settlement would be set out in open court on Monday.

SFO agrees first UK DPA with Standard Bank

This indictment, pursuant to DPA proceedings, was immediately suspended. This was also the first use of section 7 of the Bribery Act 2010 by any prosecutor.

Nigerian apex bank says no bank is in distress

The CBN hereby assures the banking public that the Nigerian banking system is sound and all banks are in compliance with both the regulatory and prudential requirements

Kenya Says It Is Open to Foreign Banks Despite Licensing Ban

Njoroge placed two banks under administration since he came to office in June.

Skye Bank Tops Nine Nigerian Commercial Banks Experiencing Stress

According to the source, the affected banks include United Bank for Africa (UBA), First Bank, Diamond Bank, Sterling Bank, Skye Bank, and Heritage Bank.

Bank urges countries to budget carefully

Africa’s foreign currency bond issues between 2000 and 2014 totalled $20.5bn, with $7.4bn of that raised last year alone, Akinwumi Adesina, who took over as president of the AfDB in September

South Africa Mulls Allowing Covered Bonds Within Three Years

The securities would have priority for payment over senior unsecured debt, which South African banks use to raise most of their liquid regulatory capital.

South Africa: Debit Order Fraud - Banks Respond to Criticism

An alarming figure of nearly one million debit order disputes are lodged every month as fraudsters increasingly gain access to the bank accounts of unsuspecting customers.

Nigeria central bank tells 3 banks to recapitalise by June

With a number of Nigerian banks having postponed moves to raise fresh funds, the central bank said it was monitoring the three lenders' recapitalisation plans

CBK suspends licensing of new banks

Central Bank of Kenya has come under severe criticism following the collapse of two banks this year.

How 'Twin Peaks' will change financial regulation in South Africa

The Financial Services Board will change into the Financial Sector Conduct Authority and will act as a dedicated market conduct regulator.

Regulation,Tax & Compliance