Managers of Wealth Africa

Third draft Financial Markets Act regulations released

The Third Draft Regulations are, together with pending legislation, aimed at progressing the financial sector reform strategy for South Africa.

Tanzania: NMB Bank Lists Over U.S.$18 Million On Dar es Salaam Bourse

Speaking during the listing ceremony held in Dar es Salaam last week, Permanent Secretary Ministry of Industry, Trade and Investment, Dr.Adelhelm Meru hailed the listing and urged other investors in the private sector to follow suit.

Proposed term limits for bank CEOs likely to shake Mwangi’s tenure at Equity

The regulator said it was drawing lessons from recent bank failures.

Riskier banks may pay more to deposit fund

The deposit insurance fund, managed by the now independent KDIC, stood at Sh6.2 billion against a Sh2.56 trillion deposit in March.

Banks to reveal owners, cap CEO tenures - CBK Governor

The move comes as the banking regulator moves to strengthen corporate governance within banking institutions as cases of poor financial practices emerge.

South African regulator confirms RDR shelved until next year

The final draft of the FSR included 14 proposals as part of the first phase of RDR

CBK to cap bank CEO tenures

This is part of CBK’s efforts to strengthen bank supervision.

South African deposit and refund scam warning

The first phase of Sabric’s Schemes and Scams Campaign focusses on the fraudulent change of bank account details scam, and deposit and refund scams.

Treasury simplifies tax amnesty draft

The amnesty comes ahead of the implementation in September 2017 of a new global agreement

Changes to special voluntary disclosure programme proposed

This initiative will make it much more difficult for taxpayers to hide assets in offshore jurisdictions.

Kenya: Njoroge Orders Banks to Disclose Top Shareholders On Websites

The directive is expected to lift the corporate veil on banks that have over the years kept their ownership closely guarded.

Moroccan parliament gives final approval to pension reform bill

The Moroccan monarchy mixed institutional reforms, heavy spending and tough security to stifle the wave in 2011

Bank of Ghana Allows Banks To Lend Above Permitted Ceiling

The move which is seen as contradiction to some financial regulations is partially blamed for the high level of debt being recorded in the energy sector where the Volta River Authority is indebted to 13 local banks to the tune of GHS4.4 billion.

Payment banks: A mobile wallet is a depreciating currency

RBI could have taken measures to legitimise and rationalise the operations of existing players

BoG tightens surveillance to ‘whip’ unlicensed investment clubs

They will be also required to provide detail information regarding their loan arrangements for scrutiny by the bank.

New financial bill to consolidate rural banks, microfinance companies

Presently, minimum capital requirement is 120 million cedis and 15 million cedis for universal banks and savings and loan companies respectively.

South Africa’s FSB Warns Against RBOptions

The financial watchdog in South Africa says the broker is unauthorized to offer its services to local residents.

The African Development Bank And The African Securities Exchanges Association Sign Memorandum Of Understanding To Join Forces To Develop Africa’s Capital Markets

The maiden project to be undertaken under this cooperation initiative will be the African Exchanges Linkage Project.

We welcome banking regulatory changes - Phil Mnisi

Where CBS said banks in Swaziland were no longer expected to charge service fees for cash deposits for any product or type of account effective from July 1, 2016.

Guptas lobby Zuma to stop law on wealth of politically connected

The bill comes as the government tightens the screws on corruption and money laundering.

Regulation,Tax & Compliance