Managers of Wealth Africa

East Africa: AfDB Gives U.S.$75 Million Financing to Enterprises in East Africa

East Africa is one of the most economically vibrant regions on the continent

Brazil is breaking with its south-south focus. What it means for BRICS

Brazil seems to be moving away from those ideals, raising questions about its continued membership of the BRICS.

How Standard Chartered Bank ignored Nigeria’s rules on Forex

The bank is to make the refund, being excess profit made from the sale of $48.6 million to a foreign customer above the inter-bank market exchange rate agreed by all operators and approved by the CBN.

COP22: WB & Morocco to establish GGIF for Africa fund to boost green economy in Africa

The agreement to launch GGIF for Africa was signed between the World Bank represented by its MENA region vice-president Hafez Ghanem and Ithmar Capital, a sovereign Investment Fund.

Economists cut Kenya's 2017 growth projection

Data from economic think tank Focus Economics.

Ghana: Banks receive 2nd payment of VRA ‘legacy debt’

19 banks owed under the ‘legacy debt’ received second payment in the first quarter of September

South Africa: Tips for Safe Banking During Festive Season

SABRIC says fraudsters take advantage of the fact that consumers receive bonuses, spend more money and are generally more relaxed because they are in holiday mode.

FG Moves To Stop Double Taxation, Tax Invasion Between Nigeria, Singapore

The minister explained that it would encourage more direct foreign investments into Nigeria, allow investors to know what their tax obligations will be and ensure sustainable tax regime for each country.

China’s first Silk Road International Bank launched in Djibouti

According to a report by 163 news, the agreement was the first to confirm the distribution of equity within the bank, the first African bank a Chinese enterprise has acquired a licence for.

Rethink interest rate policies – Apex Bank

They should institute risk management policy to identify, assess, monitor and control risks.

Zimbabwe Central Bank secures US$150m to stabilise nostro accounts ahead of bond notes introduction

The money would be used by banks to meet their customers’ requirements.

Are Swiss Banks Really Returning Africa’s Stolen Loot?

Tanzania’s foreign minister announced earlier this month that the country has signed a memo of understanding with Switzerland to help recover money illegally stashed in Swiss banks by Tanzanians

IMF lifts sanctions against Zimbabwe – report

IMF confirmed on Monday that it had removed the remedial measures against Zimbabwe

Zombie banks stalk Africa with mergers one way to limit risk

Ghana is telling banks to combine and raise funds through the stock market.

Union Bank’s Share Sale Seen Damping Demand for Nigerian Lenders

It is asking that a special resolution be approved to increase authorized share capital to 17.5 billion naira from 9.5 billion naira.

CBK gives nod to prosecution of ex-Family Bank staff linked to NYS heist

The prosecution of the officials will have a positive effect on the sector and enhance accountability

BoG, IFC launch partnership on corporate governance

Launched in 2015, the AfCGP is a four-year programme funded by the State Secretariat for Economic Affairs (SECO)

CBN Goes Tough On Illegal IMTOs, Banks Over Remittance

It noted that its attention had been drawn to the increasing patronage of illegal IMTOs by Nigerians in the Diaspora for the purpose of home remittances.

Developments relating to collateral in South Africa’s securities lending and derivatives markets

The Draft Margin Notice is expected to come into effect and phase in the margin requirements during the second half of 2017.

Tanzania, Switzerland Sign MOU To Recover Millions Lost in Offshore Accounts

Between 1982 and 2006, there were 91 client accounts opened by Tanzanian nationals, with one client depositing $20.8 million.

Regulation,Tax & Compliance