Managers of Wealth Africa

Net 1 May Face Conflict of Interest, S. Africa Central Bank Says

There may issues “related to Net 1 being involved in pay outs” and selling services

Kenya: NIC to Compensate Imperial Bank Depositors in New Deal

In my view the shareholders of Imperial Bank have been unwilling to put together a package that will reopen the bank.

Nigeria's central bank appoints 15 FX primary dealers - traders

Nigeria's central bank has appointed 15 of its commercial lenders as primary forex dealers, as the naira tumbled 30 percent after it lifted its peg on the currency, traders said on Monday.

Nigeria: As New CBN Forex Policy Begins Today - Banks, BDCS Target U.S.$21 Billion Annual Diaspora Remittances

This is as Fitch Ratings has stated that the shift to a more flexible foreign exchange regime will not only support growth but could help the country to adjust to lower oil prices.

Pan-African lender Ecobank may close some operations

But falling global commodity prices that have hit economies in countries such as Nigeria and Ghana have caused revenue to slow, profits to fall and triggered a shift in approach.

Lawmakers propose immunity, life pension for Saraki, principal n’assembly officers

The lawmakers argued that presiding officers in the legislature ought to enjoy immunity since the executive and judiciary were enjoying it.

Bank charges hit right note but . . .

Point-of-sale transactions for amounts of $10 or less now attract a fee of 10 cents while those above that threshold will attract a fee of 45 cents.

Recapitalisation, mergers loom in banking sector

This was after the IMF directed the BoG to conduct the test after an assessment of the Ghanaian economy.

FirstBank, Zenith, UBA, GTB okay as FX dealers

Additional requirements may include capital adequacy ratios and historical volume of bids recorded in the CBN weekly forex market regime due to be phased out today.

Evidence that TSA has hurt instead of helping Nigerians

It’s simply, in part due to the introduction of the Treasury Single Account,TSA by the current regime.

CBN to release flexible exchange rate policy today

Experts and stakeholders believe a flexible exchange rate policy is the right way to go for the country.

S. Africa Regulators Said to Query Baroda Bank Over Guptas

The regulators are asking questions regarding deposits and bank accounts Gupta family businesses hold at Baroda and are not implying the bank violated any rules in any way

Nigeria Central Bank Said to Weigh Dual Exchange-Rate System

The central bank is still working out details of the system, the person said, and may also reinstate a minimum holding period for foreign investors buying naira bonds.

FNB to send alerts for all new debit orders

In a move to crack down on debit order fraud.

Bank of Ghana to review Mobile money regulations in July

So when the time comes we would expect that all stakeholders make an input to improve the existing guidelines

Kenya Treasury wants minimum bank capital raised

Tanzania and Uganda have already increased the minimum core capital for their banks by 200 per cent and 150 per cent respectively.

Experts hail tax amnesty on offshore income

This will enable the taxman to collect information in advance, from “identified persons” for purposes of repopulating the information in the iTax System.

Treasury proposes tough measures for banking sector

Last year, his proposals were thwarted by Parliament, but he is betting on Chase Bank, Imperial Bank and Dubai Bank failures to win the support of the House.

Nigeria’s rigidity over forex dents global bond ambitions

Investors who met country’s finance minister this week remain unhappy with currency regime

Credit regulator’s shocking silence on reckless lending at African Bank

The report, which was led by advocate John Myburgh SC and investigates the circumstances that led to the curatorship of African Bank, finds that the bank’s risk appetite was “higher” than peer banks.

Regulation,Tax & Compliance