Managers of Wealth Africa

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.

How African Bank’s R300m fine became a R20m settlement

The Myburgh Report strongly suggests interference by the South African Reserve Bank.

Govt Forces Companies to Bank Cash

In addition, the central bank will import at least US$10 million weekly and enforce the Bank Use Promotion and Suppression of Money Laundering Act.

Kenya: CMA Goes After Imperial Bank Bosses As CBK Flexes Its Muscles

CBK says the days of internal fraud in the banking sector with directors getting away scot free must end.

Morocco aims for flexible currency system in early 2017 - c.bank gov

Jouahri said that the country would be working with a technical mission from the International Monetary Fund during the second half of this year as part of introducing the currency move.

Mammoth exchanges challenge JSE’s future

The rationale for the merger is, essentially, to create a bigger, better and more liquid market that can offer more diverse products to its many different customers.

Ghana seeks private bank loan, and Nigeria mulls Eurobond as cash dries up and budget gap swells

Ghana is seeking a syndicated loan to reduce budget deficit, while tapping the offshore bond market this year is crucial for Nigeria

Kenya: Proposed Bank to Cater for Start-Ups

"We are looking at something like the United States Small Business Act," he added.

Central Bank of Kenya turns down seven takeover bids for Dubai Bank

The Central Bank of Kenya has turned away seven proposals from local and foreign based interests looking to revive Dubai Bank.

Local banks predicted to resist mergers

The comment comes amidst widely held belief that Kenya is overbanked and the market is ripe for mergers and acquisitions.

Banking stocks tumble as investors lose N684b in 10hrs

“We expect the current bearish trend in the market to continue as investors take profit following the impressive gains recorded in the previous week.

Kenyan Regulator Rejects Takeover Bids By Seven Dubai Bank Suitors

The High Court last November ordered the industry regulator to consider proposals by investors to rescue the lender

Ghana’s Regulator Orders Investor Refund in Biggest IPO

The lender informed the regulator of its intention to reopen the share sale, the SEC said.

Zimbabwean banks forced to limit cash withdrawals

Zimbabwe, with no currency of its own, uses mainly dollars, with the euro and rand among banknotes that are also legal tender.

Zimbabwe: Trust Bank Placed Under Final Liquidation

In January 2014, the Deposit Protection Corporation announced it was instituting liquidation processes following the cancellation of its license

Alleged MMM Ponzi scheme could be more widespread

The Hawks are investigating the scheme after the commission referred complaints against the scheme to them.

Capitec shuts down thousands of MMM accounts

Over 2000 accounts linked to MMM have been shut down

RBA mulls pension scheme consolidation

By December 2015, pension savings stood at Sh814 billion according to data from the Retirements Benefit Authority.

Regulation,Tax & Compliance