Managers of Wealth Africa

Nigeria: Banks pay fines to CBN

The bank was fined for promoting top management staff without CBN’s approval

SEC cautions financial institutions to be vigilant

The Securities and Exchange Commission says financial institutions need to scrutinise and tighten its investigative structures on customers to minimise fraud in the industry.

Ghana: Banks feel pressured

Banks have been asked to implement too many policies in a short period

Nigeria: CBN Fines Banks N1.2 Billion for Violating Agric Credit Scheme

The Central Bank of Nigeria has fined banks N1.2 billion for violating the guidelines of the Commercial Agricultural Credit Scheme.

Nigeria: Begin Cashless Policy Enlightenment in Remaining States, CBN Tells Banks

This is to ensure that bank customers and residents of those states are not caught unawareness when the policy, which seeks to migrate people from the dominant cash activities to electronic portals for their various transactions.

Compliance by Nigerian financial institutions with United States FATCA: caught between a rock and a hard place?

The ultimate goal of the legislation is for the IRS to obtain information

Nigeria: CBN Directs Banks to Upgrade Chief Compliance Officers

The CBN noted that equally worrisome was the fact that most CCOs do not report directly to the board of directors

Kenya still on watch list for laundering

A negative verdict could slow down Nairobi's quest to become an international financial centre

Tanzania to destroy $50m ivory stockpile

Tanzania’s 90 metric tonne stockpile of ivory valued at about $50 million si to be destroyed

Kenyan banks start APR full disclosure

Kenyan banking customers will soon get full disclosure of what exactly goes into their loan charges.

Compliance professionals to be recognised and rewarded at the inaugural Southern Africa Compliance Awards, in Johannesburg

Business in Africa is advancing rapidly, due in no small part to the efforts of the compliance industry

SA startups catch a tax break as Reserve Bank allows for offshore IP transfer

The South African Reserve Bank has relaxed regulations for private companies in the country, which now makes it possible to transfer intellectual property offshore, reports TechCentral.

Standard Bank Charter Compliance At 61 Percent

The objective of the charter is to facilitate the transformation of the Namibian financial sector and to bring about tangible benefits for Namibians.

Financial services rules ‘disadvantage new entrants in sector’

A flood of new regulations in financial services makes it difficult for new entrants to break into an already highly consolidated sector

Skye Bank links sustainable economic growth to policy implementation

Africa’s sustainable economic growth rests on the faithful and committed implementation of the ongoing policy and regulatory reforms, improved governance, political stability on the continent and other business facilitation reforms

Financial Stability Board For Sub-Saharan Africa Meets In Accra

The Bank of Ghana has hosted the fifth meeting of the Financial Stability Board Regional Consultative Group for Sub-Saharan Africa in Accra.

Regulator to bar Saccos not meeting Sh10m capitalisation rule

Bosa refers to Saccos operating their services like loans and repayments

IFC leads Basel III recapitalization to support FirstRand's expansion in Africa

FirstRand continues to grow and improve access to finance

RPT-Fitch: South Africa Credit Record Rules Moderately Increase Risk

Under regulations that took effect at the beginning of last month, a registered credit bureau must remove adverse consumer credit information within two months of April 1 2014.

South Africa: 'Credit record rules increase risk'

The removal and restriction on use of adverse credit information will increase risk in the system

Regulation,Tax & Compliance