Managers of Wealth Africa

Moroccan central bank to issue approval for Islamic banking

Islamic banks and insurers are setting up in Morocco after it adopted legislation allowing them into the domestic market.

Kenya: KPMG to Set Up a Regional Fraud Intelligence Unit

The firm, which launched the East Africa Fraud Risk Survey last year, has been rooting for a regional database and intelligence communities to fight the vice.

India and Cyprus new tax treaty: Mauritius still remains jurisdiction of choice for debt structuring

The Mauritius transitional period (1st April 2017 to 31st March 2019) allows for the sharing of taxing rights between India and Mauritius

Morocco to start approving Islamic banks for business to begin in 2017

The North African country had long rejected Islamic banking due to concerns about Islamist movements, but its financial market lacks liquidity and foreign investors, both of which Islamic finance could attract.

South African Rand Adoption Could Work for Zimbabwe Argues deVere Group

Subsequent years have seen a move from a more diverse basket of currencies used in the country to a near total domination by the Greenback.

CBK Licences 13th Micro-Finance Bank in Kenya

The World Bank’s economic analysis for Kenya shows that the country’s insurance sector was expected to grow at 6 per cent in 2015

Deloitte sees an increase in private equity deals in E.A

The Brexit effect is bound to decrease foreign investment in the region.

Making friends of foes to improve tax compliance

The Conféderation Fiscale Européenne (CFE) says in its statement taxpayers have the right to be advised and represented by qualified tax professionals of their choice

Rwanda Leads African Countries in Quality of Policies, Institutions

The latest World Bank's annual Country Policy and Institutional Assessment for Sub-Saharan Africa.

AfDB to Improve Performance, Development Impact Under New Development and Business Delivery Model

The new Development and Business Delivery Model is built on achieving five foundations within the Bank

Tanzania: KCB Says Has Registered Success in Islamic Banking Services

However, he did not give details of customers benefited and the amount of Islamic loans it has so far lended in the country.

Tanzania: NMB Retail Bond Oversubscribed

Following the oversubscription, NMB applied and received approval from the Capital Markets and Securities Authority to increase the greenshoe option

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.

Regulation,Tax & Compliance