Managers of Wealth Africa

Banks face higher costs in Kenya’s ‘grey list’ addition

Part of the exposure is linked to the rapid adoption of technology by banks, which has opened supervisory and regulatory loopholes in the country’s financial sector.

CBK issues licences to 19 more digital credit firms

The licensing comes nearly a year after the last one

Standard Bank issues fraud alert

However, Standard Bank said the website has nothing to do with the bank or its operations.

The Gambia: African Development Bank approves supplemental $16 million to boost agriculture and food security

The project’s core objectives remain unchanged: elevating food and nutritional security and improving the incomes of vulnerable households.

Stonehage Fleming Receives FINMA Operating Licence

In 2020, new financial regulations were introduced by FINMA

A monetary policy hurdle for the real sector

These actions aim to attract capital inflows and improve Foreign Exchange (FX) liquidity.

Banks raise spending on tech for customer service, fraud fight

Banks are realising that the more they invest in technology, the more they are able to up their game to ensure they are winning customers.

19 banks still on the hook in South Africa’s rand manipulation case

The commission is still pursuing its case against 19 of the initial 28 banks identified in the investigations.

Godogwana wants South Africa to play by new rules

Godongwana has previously said that for the fiscal anchor to become binding, it will need political buy-in.

How real estate put Kenya on dirty cash grey list

This deficiency is one of the reasons the Financial Action Task Force (FATF), the global anti-money laundering watchdog, put Kenya under high surveillance in what is known as the grey list with 21 other countries.

SARS warns of new scam targeting taxpayers in South Africa

SARS warned taxpayers against opening any links in these emails and said they should be deleted immediately.

New warning over Kenya’s high bank default rates

As a result, the sector regulatory NPL ratio increased by 170 basis points in the first nine months of 2023 to reach 15 percent at the end third quarter of 2023,” said Fitch in its analysis.

FG begins new expatriate job policy, violators risk N3m fine

The Expatriate Employment Levy is a financial contribution imposed on employers who hire foreign workers.

Africa needs effective policies and infrastructure to prosper from artificial intelligence, experts say

Artificial intelligence, a fast-evolving technology that taps the intelligence of machines or software is transforming all social spheres globally.

Africa Specialty Risks doubles parametric capability

The parametric approach to reinsurance championed by ASR facilitates the flow of capital to support vulnerable populations.

EBRD approves membership of Ghana and Senegal

The two countries will have to meet some final pre-membership requirements before the process is concluded.

Official FX rate exceeds parallel marketas Naira appreciates to N1,595/$

Government officials have consistently maintained that the naira is currently undervalued.

Commonwealth, African Union renew call for reform of Global Financial System

As far back as 2018, the Commonwealth said that it’s not fit for purpose.

Economists see shilling slide past 160, high prices

Easing of default fears coupled with a surprise rise of base interest rates payment has served to raise confidence in Kenya’s asset classes such as bonds

AG advises KRA to stop collecting contentious housing tax

The KRA Commissioner-General had in a February 12,2024 letter sought guidance from the AG on the government’s position on the controversial levy.

Regulation,Tax & Compliance