Managers of Wealth Africa

Preparing for automation in South Africa

Most large foreign banks in South Africa have automated their regulatory reporting.

Botswana apex bank allays fears as Barclays plc leaves Africa

Bank of Botswana spokesperson Andrew Sesinyi said in a statement that the decision to sell off Barclays Bank plc’s stake in BAGL is subject to regulatory and shareholder approvals.

AfDB-Seychelles - New Development Strategy Targets Diversification and Resilience

According to papers presented to the Board, the Bank support will focus on establishing a more conducive business environment to enable private sector activity in traditional as well as new sectors of economic activity.

Angola removed from money-laundering blacklist

Governor José Pedro de Morais welcomed the removal, saying it would improve the country's credit quality and financial institutions.

Government reviews Islamic Finance laws ahead of debut sukuk

We want to be able to facilitate the issuance of the bond

Discovery banking licence ‘at least’ two years off

The insurer appears to have little appetite to buy a bank.

Discovery banking licence ‘at least’ two years off

The insurer appears to have little appetite to buy a bank.

Namene Kalili, a senior researcher at First National Bank of Namibia

He said the Bank of Namibia is likely to hike the rates by 75 basis points in the near future

Kenya signs agreement to fight offshore tax evasion and avoidance

The multilateral convention was developed in 1988 and amended in 2010 by the OECD and the Council of Europe.

Kenya becomes the 94th jurisdiction to join OECD

Since then, the Convention has become a truly global instrument.

Path Solutions signs up Wifak International Bank, its 1st iMAL client in Tunisia

The company identifies Islamic banking as key focus area in the country

Foreigners allowed to own up to 49% of Zimbabwean companies

According to the monetary policy statement, the 40% mark was reviewed and increased to 49%

ESMA to cooperate with South African regulators on CCPs

EMIR provides for cooperation arrangements between ESMA and the relevant non-European Union authorities whose legal and supervisory framework for CCPs have been deemed equivalent to EMIR by the European Commission.

Angola pledges tighter bank regulation in face of dollar drought

Bank of America and Standard Chartered decided to stop supplying greenbacks to Angolan banks late last year, apparently over concerns about lax regulation.

Banks accused of violating mobile money guidelines

The violation is in respect of what the guidelines said about interests to be paid to mobile money customers.

Grand Inga dreams fail to see the light of day

Politics and finance seem to be the reasons for the bulldozers’ no-show at the site on the Congo River.

Nigeria is running out of cash

Another day, another oil producer in trouble.

Distressed Nigeria turns to multilateral lenders for $3.5 billion in ‘soft’ loans

Africa’s biggest economy in talks with World Bank, AfDB as seeks to spend way out of economic crisis—a hint of Keynesian economics.

Central Bank’s new tough rules to monitor large cash transactions

CBK has a game plan of curbing money laundering, taming fraudulent money movements, while zeroing in on those financing corruption, criminal and terrorism activities.

Capital controls are necessary, says Fidelity MD

Okonkwo noted that the current fiscal year may get tougher, with the prospect that oil price may drop further.

Regulation,Tax & Compliance