Managers of Wealth Africa

Sanlam fined N$15m by competition regulator

“This conduct is specifically prohibited in terms of Section 23 of the Competition Act,” he stated.

Money Transfer Fears For Nigeria's Economy

The country’s $20bn in annual remittances set to take a hit after central bank revoke the licenses of all but three money transfer companies

Kenya: Munya Cautions Counties On Slow Remittance of Workers' Pension Deductions

The Meru County boss said it was important to safeguard workers' future especially in retirement.

Lenders want new law for Islamic financing

Islamic banking has key differences from conventional banks

Banks must evolve or risk irrelevance

The expert points out in recent years have also seen a host of new market entrants.

MFB, ICD in services deal

To establish a new Islamic Bank in Nigeria

State urged to draft separate rules for Islamic banking

“Even Uganda is coming up with a different Act to govern Islamic banking and that’s the way to go.”

More regulation could actually improve financial inclusion in Africa

This allowed third-party entities, based in places as varied as supermarkets, gas stations and post offices, to act as agents for the banks.

Accountants ask President Uhuru Kenyatta to pass rates law as banks make token cut

Commercial banks, which collectively booked Sh38 billion in pre-tax profits between January and March alone, are all members of the 46-member lobby group.

Nigeria to allow banks to write-off some bad loans this year

Commercial banks asked the central bank to amend its rule requiring them to keep non-performing loans on their books for one year even after they have been fully provided for.

China mulls venture into Rwanda's banking sector

FOCAC was created in 2000 to, among other things, cement Sino-African relations by establishing sustainable trade deals, political and cultural exchanges.

Abu Dhabi Global Market signs deal with South Africa

It is the latest such agreement to be signed between ADGM and other financial authorities across the world.

Reserve Bank fines GBS R500000 for Fica lapses

SA Reserve Bank found “weaknesses” in money laundering and financing of terrorism controls

ADGM signs MoU with South African authority

Memorandum to enable greater cooperation on regulatory matters

HFC awaits court’s ruling in Finatrade debt saga

A number of the banks in a bid to recover their monies from Finatrade last year dragged the company which is one of Ghana’s biggest commodity trading companies to court.

Cordros Asset Management floats N1b fund for investors

It added that the minimum subscription amount in the fund is N10,000.00.

Imperial Bank collapse boosts Diamond Trust

AKFED played a major role in helping the bank broker the December 3, 2015 deal with the Kenya Deposit Insurance Corporation

CBN Directs Banks to Include BVN in Payment Cards

It was also noted that CBN told banks operating in the country that bank accounts without the Bank Verification Number (BVN) would be operated as “No Customer Initiated Debit”

Several banks miss CBK deadline to disclose shareholding structure

Credit Bank also provided the structure and went further to disclose that since the bank is currently raising more capital through private placement, its current shareholding is subject to change.

Don't panic, Nigerian central bank governor says, as bank shake-out looms

If the naira falls far enough, it will force some banks to recapitalize to have enough naira to stay within financial stability limits.

Regulation,Tax & Compliance