Managers of Wealth Africa

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.

NAICOM Revokes Standard Alliance, Niger Insurance’s Operating Licences

The Commission, nevertheless, assured all stakeholders of the safety and protection of their interests.

CBN, Bankers Committee Sensitises Lagos Markets on ENaira

Some of the traders who spoke on the initiative, commended the apex bank for introducing eNaira, saying that it would help in solving the long wait experienced in transferring cash.

UK to Guarantee $2 Billion of AfDB Debt to Boost Climate Fight

The UK has agreed to guarantee $2 billion of the debt the African Development Bank has extended to governments on the continent, allowing the lender to free up finance for climate-related projects.

Minimum wage problem for South Africa

“A year later, in Q1 2021, this number remained much the same, at 36.2%. In 2020, the NMW was adjusted by 3.8%, and wages appeared to have risen by roughly this amount for those who remained employed in Q1 2021, meaning that the overall rate of non-

Here is the new retirement system planned for South Africa

As part of his presentation, Momoniat focused on five main areas, including the new retirement system for South Africa and the government’s plans to address flaws in the current system.

Zimbabwe lobbies to rejoin Commonwealth

The late Mugabe, who ruled Zimbabwe between 1980 and 2017 with an iron fist, was at the loggerheads with the Commonwealth over alleged human rights abuses and electoral fraud.

South Africa rail policy sets out vision for future investment and private sector participation

The government has identified required interventions at two levels.

No more masks, but can employers still enforce mask-wearing in the workplace?

This means that there are no longer any laws or regulations mandating mask-wearing.

New banking laws proposed for South Africa

“It seems that the SCA’s basis for this decision was that the relationship between a bank and a client is a contractual one,” he said.

UK watchdog fines Ghana International Bank for poor controls

This restriction remains in place.

Regulation,Tax & Compliance