Managers of Wealth Africa

Nigeria to allow banks to write-off some bad loans this year

Commercial banks asked the central bank to amend its rule requiring them to keep non-performing loans on their books for one year even after they have been fully provided for.

China mulls venture into Rwanda's banking sector

FOCAC was created in 2000 to, among other things, cement Sino-African relations by establishing sustainable trade deals, political and cultural exchanges.

Abu Dhabi Global Market signs deal with South Africa

It is the latest such agreement to be signed between ADGM and other financial authorities across the world.

Reserve Bank fines GBS R500000 for Fica lapses

SA Reserve Bank found “weaknesses” in money laundering and financing of terrorism controls

ADGM signs MoU with South African authority

Memorandum to enable greater cooperation on regulatory matters

HFC awaits court’s ruling in Finatrade debt saga

A number of the banks in a bid to recover their monies from Finatrade last year dragged the company which is one of Ghana’s biggest commodity trading companies to court.

Cordros Asset Management floats N1b fund for investors

It added that the minimum subscription amount in the fund is N10,000.00.

Imperial Bank collapse boosts Diamond Trust

AKFED played a major role in helping the bank broker the December 3, 2015 deal with the Kenya Deposit Insurance Corporation

CBN Directs Banks to Include BVN in Payment Cards

It was also noted that CBN told banks operating in the country that bank accounts without the Bank Verification Number (BVN) would be operated as “No Customer Initiated Debit”

Several banks miss CBK deadline to disclose shareholding structure

Credit Bank also provided the structure and went further to disclose that since the bank is currently raising more capital through private placement, its current shareholding is subject to change.

Don't panic, Nigerian central bank governor says, as bank shake-out looms

If the naira falls far enough, it will force some banks to recapitalize to have enough naira to stay within financial stability limits.

France-Kenya Ties Growing

At a time when barbarity is blindly striking our countries, France stands alongside Kenya, just as Kenya stands alongside France.

Business must play a role in protecting country’s payment system: Reserve Bank

Groepe’s comments coincided with Pasa’s announcement of “a new standardised specification to facilitate biometric authentication on payment cards”.

CBK Proposes Three-Year Limit for Bank Auditors to Boost Governance

The impending rules come after external auditors were entangled in the collapse of three lenders, namely Dubai, Imperial and Chase banks.

Panama Papers: Offshore Firm Helped Billionaires Plunder Africa

The International Consortium of Investigative Journalists, which published the leak along with dozens of international media, found that 44 of 54 African countries have a total of at least 37 mining, oil and mineral companies connected to offshore account

Regulation,Tax & Compliance