Managers of Wealth Africa

2021: Shortage of funds sees banks’ borrowing hit N26.9trn

The amount represents a 233 per cent increase.

Banking regulators seek new rules to protect depositors of failed lenders

Mohamud said assets and liabilities of each bank will be reviewed regularly to ensure the finances are healthy and that customer deposits are well covered by assets.

KENYA: Regulation of Digital Lenders

The Act also provides that the CBK will make regulations necessary to give effect to the Act.

No Debt Relief for Zimbabwe Unless it Clears World Bank Arrears – IMF

The government announced last week that external debt grew to US$13.7 billion in September, up from roughly US$10.7 billion the previous year.

Why EAC states should urgently resolve thorny double taxation

This is because taxation is central to economic growth in relation to infrastructure development, service delivery and wealth creation.

SA’s ‘future state bank’ risks losing Payment System access because of Sassa security issues

The Postbank started handling payments of social grants for the South African Social Security Agency (Sassa) in 2018. Nearly a year later, "serious irregularities" were found on the Sassa-branded cards the bank had issued.

Sustaining Battle against Monetary-induced Inflation, CBN Debits 18 Banks N178.3bn over Violation of CRR Threshold

A top director in a Tier-II bank exclusively disclosed to THISDAY that the apex bank every week debited banks and merchant banks for not meeting the 27.5 per cent CRR threshold.

SEC begins charging regulatory fee on fixed income transactions

These rules empower the SEC to levy, among others, fees on transactions relating to investments and securities business in Nigeria.

Mauritius: Key legislative amendments to make the banking and finance sector more attractive to investors

The objective of the amendments is to strengthen the development of key sectors, such as innovation in terms of fintech and regtech.

InfraCorp to raise N14trn from local, foreign debt markets – CBN

The apex bank said more than 50 per cent of the fund to be raised would come from local debt market, adding that the instrument would be mostly in naira.

How Fidelity Bank is Fostering Financial Inclusion

To better the statistics of its people living below the poverty line, there need to be drastic measures set in place to change lives positively.

Economy steadily recovering, but growth still fragile — CBN

Emefiele who spoke at the ongoing 2021 Annual Bankers’ Committee Retreat in Lagos, stressed that banks should make credit available to the Small Medium Enterprises, SMEs, which he described as the engine of growth.

Access Bank to hold court-ordered meeting ahead of holdco transition

The process is to be completed by April 15, 2022, when the holdco shares will be listed in Lagos.

Mauritius Commercial Bank gains new licence with Dubai FSA

The UAE has 20 Double Taxation Agreements (DTAs) in force with African countries, while Mauritius have 16.

Mauritius supports ‘Les Amis de Zippy’ mental health program

To make a positive impact on the promotion of children's mental health, research has shown that it is crucial to involve the school community through a ‘whole school approach’ project.

Tanzania: introduction of UBO registration requirements

Going forward, the UBOs’ particulars shall be submitted annually together with the annual returns, failing which the annual returns will not be deemed as being filed.

BoG seeks partnership to grow fintech space

The COVID-19 pandemic was challenging but it also presented some opportunities.

Making Banks Safer

Financial stability is paramount for economic growth, as most transactions in the real economy are made through the financial system.

Massive money-laundering probe heartens anti-corruption activists but fails to lift Pandora Papers’ pall over Seychelles

The African tax haven, recently removed from the EU’s blacklist despite uproar, is prosecuting its first major money laundering case against an influential couple who feature among the wealthy elites in the Pandora Papers.

Kenya: Country-by-country reporting draft regulations issued

This measure is aimed at enhancing transparency through comprehensive exchange of information between revenue authorities.

Regulation,Tax & Compliance