Managers of Wealth Africa

Central Bank Governors, Finance Ministers Beg Again For Africa’s Debt Relief

Morocco is chair of the Caucus

Central Bank Governors, Finance Ministers Beg Again For Africa’s Debt Relief

It should be noted that the call for debt relief for Africa did not start today as exemplified by the call last year made by the President of African Development Bank, Dr Akinwumi Adesina.

Bank Raises Prime Lending Rate to 11.96% on Inflation, Hike in MPR

The prime rate is the interest rate that banks charge their most creditworthy customers, generally large corporations.

Lawyers Ask Court to Nullify Acquisition of Union Bank by Titan Trust Bank

In the suit, Mekwunye, also a Union Bank shareholder, had contended that Union Bank’s sales to Titan Trust Bank by Union Global Partners and Atlas Mara Ltd did not follow extant laws of Nigeria regulating such transactions.

Standard Bank warns of new tax scam targeting customers

Keep your login details, passwords or account information private.

Zimbabwe to mint gold coins to tackle rising prices

The statement also said each coin will be identified with a serial number and can be easily converted to cash, locally and internationally.

TAJBank targets banking licence

One of the major objectives now is to secure a national banking license in order to transform TAJBank into an industry leader.

The FSCA is working on reforming legislation ahead of the anticipated COFI Bill

According to the regulation plan, the FSCA is developing a conduct regulatory framework to be implemented under the COFI Bill, once the COFI Bill is enacted.

New pension fund regulations for South Africa – what you need to know

“The aim of the amendment is to explicitly enable and reference longer-term infrastructure investment by retirement funds, by increasing maximum limits that funds may invest in,”

Banks’ Borrowing from CBN Decline by 42% in H1 on MPR Hike, Others

Analysts stated that the improved business activities post-covid-19 paved the way for banks and merchant banks to halt borrowing from the CBN.

Focus on Central Bank of Kenya's new plan to combat loan sharks

Some of these lenders even specialise in rights/privacy violations such as harassing the friends and families of debtors.

Penalise any bank caught violating consumer rights

Findings of a two-year study by the UK-funded NGO FSD Kenya showed that bank pricing data was difficult to obtain and that market information was still opaque.

Somalia licences first two foreign banks since 1970

So far, the Central Bank of Somalia has licensed 13 locally owned commercial banks, among them Salaam Somali Bank and Dahabshil Bank.

CBK set to spy on lenders defying consumer rights

Banks that break the rules risk withdrawal of licenses, directors’ ousters, and a Sh5 million fine while workers in violation face a Sh200,000 penalty.

The operators that determine Nigeria’s black market exchange rate

...they are powerful and operate independently of the CBN

Ghanaian bank faces compliance failings fine

The bank is owned by a Ghanian consortium led by the Central Bank of Ghana.

Africa loses $50bn yearly to illicit financial outflow — ANAN

Africa is losing more than $50billion every year in illicit financial outflows as governments and multinational companies engage in fraudulent schemes aimed at avoiding tax payments to some of the world’s poorest countries

CBN Sets January 2023 Deadline for Financial Institutions to Tighten Noose on Cybercrimes

The bank said the directive became mandatory for institutions to strengthen their cyber defenses if they were to remain safe and sound.

IMF's board to review Kenya's performance in mid-July

$239mln is at stake

NGX, BoI sign deal on growth

The agreement will also help to facilitate the capacity of stakeholders through financial literacy programmes, market advocacy initiatives and listing of companies.

Regulation,Tax & Compliance