Managers of Wealth Africa

Banks to lose N558bn on MDAs’ fund transfer

The TSA policy translates to a significant decline in banks’ deposit, which is also expected to constrain banks’ ability to grow credit in the economy.

Another Knock For Ecobank

Though not unexpected, the SEC’s report eventually set off series of internal infighting

SADC central banks complete interconnection of ICT systems

The network of the banking technological information of the Southern African Development Community (SADC) member states is already interconnected

Nigeria is Ecobank’s biggest operation – bank chief

Ecobank’s Group Chief Executive Officer Albert Essien says Nigeria is the bank’s biggest operation and that the current economic and currency headwinds in Nigeria have not affected his company immensely.

Access Bank Extends N52.6bn Rights Issue by Two Weeks

Access Bank embarked on the capital raising via the right issue to raise N52.6 billion.

IMF highlights role of Bank Al-Maghrib in Morocco

The International Monetary Fund (IMF) has welcomed Bank Al-Maghrib’s (BAM) efforts to strengthen Morocco’s financial supervisory and regulatory framework to ensure continued financial sector soundness

Nigeria central bank sets guidelines for Islamic finance advisory body

Nigeria's central bank has issued guidelines for an advisory body that will oversee Islamic banking in the country

Deutsche Bank Fined $857,000 in South Africa for Rules Breaches

The central bank, which also acts as the country’s bank supervisor, cited “deficiencies” in how Frankfurt-based Deutsche Bank identified and verified customer details, according to a statement on the South African Reserve Bank’s we

Central Bank of Nigeria shuts down its official FX window due to volatility

The Apex Bank noted that the wide gap between the official and interbank value of the naira had engendered undesirable practices

Nigeria: This Is What CBN Plans On Doing With Dormant Banks Account

Nigeria’s number one bank, Central Bank of Nigeria, has laid down a set of new guidelines for the treatment and management of dormant accounts by commercial banks.

Andrew Canter unpacks the future of banking in SA and how it will affect you

In this country, Abil no doubt, has had an influence, too.

Mauritius' KPMG tasked with restructuring BMIO, Seychelles Central Bank has announced

Work has started to implement the restructuring process of the Bank of Muscat International Offshore in Seychelles announced by the Central Bank of Seychelles in December last year.

RBZ to clean up banking sector by June

THE Reserve Bank of Zimbabwe (RBZ) has set an ambitious target to have a financial services sector that has no distressed banks by the first half of this year

South African institutions being eroded, Standard Bank says

Recent developments at the South African Revenue Service, which had been one of the government’s strongest institutions, are particularly concerning, Ballim told reporters in Johannesburg on Tuesday.

Ecobank clarifies IMF publication on its financial stability

Ecobank is compliant with regulatory requirements, including those for liquidity and capital

Zimbabwe's central bank takes over $65 mln in bad loans from banks

Mangudya said the central bank had also set aside $50 million to invest in gold production

Sanusi lauds UBA’s leadership role in the banking reforms

The Emir also praised UBA for offering him a job

Regulatory change driving banking agenda – S&P

Low growth, business confidence the ‘new normal’.

Files point to $182mn Halliburton bribery scandal in Nigeria

A network of secretive banks and offshore tax havens was used to funnel US$182mn in bribes to Nigerian officials in exchange for US$6bn in engineering and construction work for an international consortium of companies that included a then Halliburton subs

Cannon Asset Managers: Making cents of SA’s trade balance

It is expected to take more than 5 000MW out of service on planned maintenance, which will likely hurt local businesses.

Regulation,Tax & Compliance