Managers of Wealth Africa

CBK in row with banks over dividend payouts

This has seen a number of banks revise dividends that had received board approval downwards to ensure the payouts are a fraction of last year’s disbursements.

Key African central banks aren’t rushing to raise interest rates

More concerned about the impact of a potential third wave of coronavirus infections and a slow rollout of vaccines.

Regulator drops plan to list State loan backed SMEs

CMA chief executive Wycliffe Shamiah said instead of competing with banks, the regulator now wants a broader fund that will help small business reduce the cost of listing even as it offers loan guarantees.

Uganda: African Development Bank signs $229.5 million financing agreement for the Kampala-Jinja Expressway Project

The Kampala-Jinja Expressway Project will cut travel time and boost trade along an important artery linking Uganda with its neighbors

Ministries to meet over NCPB’s rising Sh7bn bank debt

“The CS Agriculture is organising for a meeting between the ministry, Treasury, NCPB and KCB to resolve the Sh7billion loan,” said Mr Iringo.

Herbert Smith Freehills Advises Korea’s POSCO Group on Stake in Tanzanian Graphite Miner

The firm is also advising POSCO on offtake and prepayment arrangements for the project.

Government wants to enforce new BEE rules at banks, insurers and funds

Masondo said it will also be a requirement for financial institutions, such as banks, to have transformation plans that demonstrate their compliance with existing Black Economic Empowerment legislation.

Kenya goes for costly Eurobond to pay off maturing $8.5b debts

This will mean investors willing to buy the Kenyan bond in the international will demand risk premium to cushion against country’s risk of default.

Dentons launches combination with East African Law Chambers in Tanzania

In 2020, Dentons accounted for 85% of all cross-border law firm combinations and is now the second best-known law firm in the world according to Acritas

NBK gets nod to auction TSS land over Sh3.7bn loan

High Court put a freeze to the sale in April 2017 following a petition from the late Mombasa tycoon’s so.

Treasury raises Sh48bn from bond sale in borrowing target race

The bulk of the funds raised in the bond will be going towards the new borrowing column at the exchequer, with no maturities on the bonds register this month.

Nigeria’s rising debt servicing, an economic threat – SEC

Moving towards improved sustainability may require future debt tied to revenue-generating projects.

Kenya ranked among major money laundering hotbeds across the world

Kenya ranked among major money laundering jurisdictions across the globe

SA regulator, big banks experiment with blockchain securities

BMA’s experience in the local banking technology sector through previous blockchain-based projects with Rand Merchant Bank

Nedbank to pay out VBS bank victims up to R100 000 per depositor

The money included investments from municipalities, government departments, stokvels and ordinary South African depositors.

SEC tasks quoted companies on regulatory compliance, lists benefits

While these regulatory requirements may appear burdensome to companies, they exist for the protection of investors who rely on accurate and timely information to make an informed judgment and for the proper governance of the companies.

The Africa Digital Inclusion Facility approves grants worth $1.3 million for two research efforts to enhance women’s digital access to loans and micro-insurance

The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility

Regulation,Tax & Compliance