Managers of Wealth Africa

SRC raises President Ruto’s CASs pay to Sh780,000 in new review

The current and previous administrations have been seen to use the position to reward loyalists and election losers.

CBK whips banks to unlock dollars after President Ruto warning

The banking regulator says the code, which comes into effect this morning, will ‘ensure the integrity and effective functioning of the forex market in Kenya.’

IMF slashes South Africa’s GDP growth forecast for 2023

The National Treasury is aware of “most of the risks to economic growth” flagged by the lender and is working on measures to address them, it said in a statement.

Energy security depends on the development of South Africa’s hydrogen economy

The University of Pretoria is dedicated to researching and understanding how to address complex societal issues such as this – and has identified energy as one of its core institutional research focuses.

Licensed bancassurance firms now triple on legal compliance

Now top banks including KCB, Equity, Co-operative Bank, NCBA, Absa Bank Kenya, DTB, I&M, Stanbic and Standard Chartered Bank Kenya have all been licensed to transact insurance business as bancassurance intermediaries for the year 2023.

Marked parastatal CEOs as Ruto team eyes fresh faces

The new administration, which came to power in September last year has mostly fired directors appointed in the former president Uhuru Kenyatta’s last days

Absa sets sights on unveiling risk-based loans in second half

Absa is among three top banks to obtain the regulatory nod to reprice loans based on the risk profile of each borrower with others being Stanbic Bank and Equity Bank.

South African courts don’t always follow the rules

The rules are intended to make sure that the CCMA follows resolution processes consistently.

Reserve Bank expected to hike rates again this month

The Federal Reserve’s rate path will also be key in decision-making.

SARB sends a warning to government

South Africa is the world’s biggest producer of platinum and manganese and a major exporter of gold.

South Africa is about to blow the budget

It reiterated its commitment to reducing the budget deficit and ensuring fiscal sustainability was maintained.

New rules for businesses in South Africa

The proposed regulations, specifically those dealing with money laundering and counter-terrorism, are a direct result of the General Laws Amendment Act, 2022, which was signed into law on 29 December 2022.

Dollar breaks above Sh145 as market ignores CBK rate

These trades are moving further from the Central Bank of Kenya (CBK) average rates of Sh129.52 per unit

How South Africa wants to protect bank customers with deposit insurance scheme

The $42 billion bank run on SVB, the largest in American history, showed that bank customers will always take the fall for poor decisions of banking executives and hence the need to protect them.

South African shares slip as U.S banking crisis continue to weigh

The blue-chip Top 40 index closed around 0.5% lower while its broader all-share index was down around 0.7%.

Stanbic Bank's parent lender ready to writeoff $81m of its bond losses

Standard Bank on Thursday joined FirstRand Ltd. in accounting for the impairment. Ghana has an estimated ¢576 billion of public debt.

Court Freezes Firms’ Account in 22 Banks over Alleged Violation of CAMA

The judge also directed all the affected banks to file and serve on the Plaintiff’s counsel within seven days of receipt of this order

Cheques from rival banks to be cleared in a day

Kenyan banks in 2013 cut the clearing time for a commercial bank cheque to one day

Nigeria Takes Bold Step to Become Africa’s First State To Adopt Open Banking Regulations

The open banking regulation in Nigeria was initially proposed in 2017

Nigeria Greenlights Open Banking to Deepen Financial Inclusion, Boost Innovation

The release of the final guideline marks the end of a long journey towards open banking adoption in Nigeria

Regulation,Tax & Compliance