Managers of Wealth Africa

Central Bank of Kenya to liquidate bank after ‘severe violations’

A report into Charterhouse by managers appointed to take over

SA banks are closing accounts without warning, complaints data suggests

Account closures by banks usually go unnoticed, with banks citing client confidentiality in such dealings and account holders often not willing to talk in public about the reasons they were fired as clients.

Ratings agency sends wage warning to South Africa

The group forecast that South Africa’s GDP growth is likely to remain below 2% due to the limited scale of planned structural reform, adding that ongoing issues such as government’s weak implementation record and electricity shortages will con

Charterhouse bank liquidation begins, refunds in 30 days

Process follows the submission of a Statutory Management Report that recommended its winding up.

Charterhouse Bank faces liquidation on CBK nod

Was placed under statutory management in June 2006 over violations of the Banking Act

KCB boosts National Bank capital with Sh3 billion long-term loan

The breaches had constrained NBK’s capacity to take more deposits and expand its loan book.

Kenya, DRC strengthen ties with historic treaties

This visit was aimed at enhancing the two countries' relationship in trade and security.

FNB warns of screen scraping scam targeting business

While this scenario is more relevant for retail consumers, the risks are also significant for businesses that sign over authority to a third party to access their banking and client information.

Estonia is punting its ‘e-residency’ for South Africans who want EU busines

More than 80,000 people from 170 different countries have become e-residents of Estonia.

JPMorgan Memo Warned $875 Million Nigeria Payment Was Graft Risk

European and Nigerian courts have been raking over the purchase by Eni SpA and Royal Dutch Shell Plc of the oil license in Africa’s largest crude producer a decade ago.

How South Africa’s new debit order system works

Upon setting up a new debit order with a service provider Standard Bank will send customers an SMS to approve the new DebiCheck mandate.

CBN extends Naira-4-Dollar scheme indefinitely

“In effect, a typical recipient of diaspora remittances, will, at the point of collection, receive not only the dollar sent from abroad but also the additional N5 per dollar received.”

Elumelu Calls for Urgent Power Sector Reforms to Boost Economy

He stressed the need for the federal government to focus on diversifying the economy in a bid to increase the country’s forex inflow and reduce the dependence on oil revenue.

First Bank and the CBN axe

Beyond its share price, its age and its millions of customers, who kept their sleep well accounts with the bank, also gave me the confidence that the bank is reliable and would for long, remain a bank to beat in Nigeria.

FBN customers in panic withdrawal after CBN shake-up

The apex bank noted that the action of the board of the FBN sent a negative signal to the market on the leadership of the board and management, stressing that it queried the board because of negative developments.

Wealth Migrate an African leader in obtaining a licence to offer crowdfunding services to investors

Wealth Migrate SA (Pty) Ltd has been approved as a Category I Financial Services Provider

Government pushes ahead with plans to launch a new state bank

It is expected to help provide financial assistance to South Africans who are most in need.

Markets regulator, KIDC restart talks on bonds cushion

This was a drop from 0.17 per cent of Sh691.8 billion traded in 2019 and 0.56 per cent of Sh655.1 billion in the prior year.

Pension changes for South Africa under the spotlight

The bill would amend the current Pension Funds Act to allow pension fund members to obtain a loan, secured by a guarantee from a registered pension fund, to alleviate financial pressure during an emergency.

GHS768 million paid to over 6,000 clients of collapsed FMCs

Reverend Daniel Ogbarmey Tetteh further noted that the Commission also is set to complete the asset management bailout programme, following the approval of GHS5.5 billion by Parliament.

Regulation,Tax & Compliance