Managers of Wealth Africa

Rwanda gives nod to KCB to buy bank from Atlas Mara

The firm said it was awaiting approvals from Tanzania where KCB Group has also set sights on African Banking Corporation Tanzania (BancABC).

Central banks of France, Tunisia in wholesale cross border CBDC trial

The experiment used a blockchain-based wholesale central bank digital currency to carry out wire transfers between commercial banks in each country instead of using SWIFT.

Mauritius now 17th country in Global Index repository for banks, with MBA’s support

Mauritius was an early adopter.

CMA pushes Kenyan firms to acquire bank-backed guarantees in bond issue

In addition, companies, particularly those issuing asset-backed securities will have to undergo credit rating for their risk positions to be well captured.

Wealth firm CEO suspended due to suspected looting

He has been accused of taking part in the unrest in South Africa

Zenith Bank is balancing the scorecard with ESG policies

A bank is only as strong as the community it serves, and this founding philosophy has not only helped it to provide support and aid during the global health crisis, but forms part of Zenith Bank’s continuing commitment to help govern sustainability

South African bank calls on public institutions to switch to digital payments

The provincial head of FNB Public Sector Banking Anrie Spangenberg said it is costly to transport cash.

Ghana to begin digital Cedi pilot in September - BoG

The First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari, has revealed that the central bank will begin a pilot of the digital cedi in a sandbox environment in September 2021.

World Bank sends warning to South Africa

South Africa’s unemployment rate stood at a record 32.6% in the first quarter of 2021, the third-highest of 82 countries tracked by Bloomberg.

AFSA International's new rules - simply explained

These Rules are a welcome move that will help to grow South Africa's reputed position as an international arbitration seat.

Zanzibar’s new tax and residency investment scheme set to open paradise to the world

Government introduces key measures to make the region attractive to foreign investment

Momentum entities fined over R11m for inadequate controls against financial crime

The regulator stressed that Momentum Wealth and MCI had not themselves been found guilty of facilitating transactions involving money laundering or terrorist financing.

Mauritius Commercial Bank Ltd (MCB) to adopt MITECH's TRAC Collateral Management system in the Cloud

The TRAC software will be implemented on a Cloud infrastructure, with the aim of going-live with the system before the end of the year.

Tanzania lacks Islamic banking regulations

The International Monetary Fund (IMF) and the World Bank recently issued Islamic banking prudential regulations and supervision to its members.

UBA seeks to recover $6.759m from Polaris Bank

Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank are the first and second respondents in the suit numbered FHC/L/CS/714/21.

‘Financial Inclusion Initiative Will Drive Open Banking’

This, she said, would enable end users have access to relevant technology tools that would help them meet their own financial needs.

Nigeria: African Development Bank bolsters women-empowered businesses with $50 million loan to FCMB bank

Thirty percent of the funds, which are intended to mitigate effects of the challenging Covid-19 environment, are earmarked for underserved women-empowered businesses.

Several court judgments later, insurers are still fighting lockdown claims

ICA CEO Ryan Woolley said his firm had positive interactions with Hollard South Africa, Old Mutual Insure and some smaller insurers such as Factory & Industrial.

Double-digit growth in PSCE by FBNQuest Capital

There is a long way to go in boosting financial intermediation when we consider the scale of the unbanked informal economy.

CBN pledges increased interventions to SMEs

Emefiele urged the government and the private sector to provide more support in addressing the challenges of SMEs in the country.

Regulation,Tax & Compliance