Managers of Wealth Africa

Nigeria finance minister says borrowing still sustainable

The Debt Management Office put Nigeria's total local and foreign debt at $103 billion at the end of June

CIN deepens compliance with new members induction

Compliance professionals across the sub-region including policymakers, regulators, law enforcement officers and standard setters will attend the event.

Equity recovers 90pc of Covid restructured loans

The lender said last week that restructured loans worth Sh49.4 billion had been fully repaid by the end of September, while borrowers were servicing others worth Sh104.9 billion.

CBK eyes World Bank loans to boost forex reserves

CBK data shows the stockpile of foreign currencies has dropped 19.70 percent to $7.038 billion (Sh858.64 billion) from $8.765 billion (Sh1.07 trillion) at the beginning of the year.

Protect real estate sector from risks — Regulatory authority

The Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka, disclosed this in a statement on Sunday to announce the third edition of a conference and exhibition programme for real estate practitioners and potential clients in Lagos.

Liberia: African Development Bank Group approves $5.12 million financing for Emergency Food Production Program

The country’s major crops are rubber, rice, cassava, bananas and palm oil, with cassava and rice being the primary staple food crops.

Treasury orders removal of troubled Kenya Power board chair Yeda

The Kenya Electrical Trades & Allied Workers Union has constantly demanded the removal of Ms Yeda from the board arguing that she has been behind the company’s shortage of critical materials such as poles, meters and transformers through delayed

Nigeria needs to tap into its natural resources to resolve its foreign debt — Access Bank Chair

Speaking at the 22nd edition of NECCI Public Relations round-table in Lagos, she said that Nigeria can generate enough revenue from its enormous natural resource to fund the budget and repay its loans.

Karuturi assets on sale as two banks seek to recover Sh1.6 billion

The farm has been previously used to cultivate the cut flower,” said the banks in the notice placed by one of the receivers of the assets.

Reserve Bank hikes rates by another 75 basis points

The level of the repurchase rate is now above the level prevailing before the start of the pandemic.

Bank regulator ‘thinks Telkom chair Moloko has too much on his plate’

Prudential Authority wants the executive to step down as chair of Telkom and focus his attention on Absa, sources say

CBK raises cost of loans to rein in inflation

The new policy lending rate is the highest since November 2019 when it was pegged at 9.0 per cent at a time when the now scrapped interest rate controls were still in force.

Major lifeline thrown to Eskom

Diesel is needed to fuel Eskom’s open-cycle gas turbines, used to produce electricity during peak periods of demand across the nation. The turbines can cover around two stages of load shedding.

Old Mutual launching new bank in South Africa in 2024

The group already has existing lending and transactional solutions – an unsecured lending product and the Old Mutual Money Account – with the latter handled through a partnership with Bidvest Bank.

Access Bank disowns fake news on association with cryptocurrency platform

A statement by the Bank’s management dissociated the financial institution from the information pushed out by a fictitious webpage

Deal signed for $5bln floating LNG facility in Nigeria

Facility expected to process 176 million standard cubic feet of natural gas per day

UBA Group boss Alawuba commits to fostering economic devt, partnerships with Uganda

UBA Uganda commenced operations in 2008 starting with the opening of the main branch on the Kampala-Jinja Highway in Kampala

A Caribbean-Africa partnership is happening finally, and it’s a terrific development

The MoU signing between Africa Import-Export Bank and the Ministry of Bahamas seems to be a good beginning to new relations with like-minded countries which are bearing the brunt of Western diktats

Transformation laws without end

Instead of giving his stance on the question, Nxesi said that transformation laws, such as the Employment Equity Act (EEA), would remain in place until such time as its main goals were achieved.

What to expect from the interest rate hike in South Africa this week

Investec chief economist Annabel Bishop is the only panellist who says the SARB will and should increase the repo rate by 100 bps.

Regulation,Tax & Compliance