Managers of Wealth Africa

KRA boss denies links to tiles firm, cites blackmail

Njiraini says suit is unfounded and malicious, terms it as a blackmail.

Victory for PT Ventures in ICC arbitration involving Africa’s richest woman

According to documents seen by ALB, Oi, which inherited its minority stake in Unitel in 2014, had claimed over USD 3 billion from the Angolan shareholders of Unitel.

Mauritius: insider dealing and market abuse - the limelight of the Bull Market

The amount recovered goes into a compensation fund to compensate investors who suffered a loss by the insider dealing

Retirement fund default regulations

In this edition we will discuss these new default regulations in more detail.

KENYA: New team set up to review law on dirty money

The team will draw membership from 30 institutions and departments, including the Capital Markets Authority, Kenya Bankers Association, Directorate of Criminal Investigations, Kenya Revenue Authority, Kenya Wildlife Service, the Immigration Department and

Nairobi’s Milimani courts top collection as Judiciary revenue climbs to Sh2bn

Instead, all court stations were directed to use cashless systems, mainly direct banking, M-Pesa and agency banking.

Angola Says It Recovers $3.35 Billion of Assets From Quantum

It included about $2.35 billion of financial assets held in U.K. and Mauritius banks, and $1 billion of real estate holdings in hotels, gold mines, farms and resorts in the country and abroad, it said.

Details of Zedcrest Capital MD's Case With EFCC Emerge

Due to data protection regulations, the bank’s checked with the EFCC to confirm the authenticity of the letter and found it to be a forged one.

Why High Court threw out law on interest rates law

Failure to amend the ambiguous section of the Act will mean a reversion to free-floating interest rates regime, where commercial banks set the cost of loans without reference to any law.

PwC Probe Uncovers $7.4B Steinhoff Accounting Fraud

PwC’s investigation summary noted that a single “senior management executive” led the scam

Pension Funds profiteer at expense of members’ benefit, says PFA

The complainant was also unhappy that the second respondent wanted to charge a termination penalty in the region of R307 851.

Why top bank officials may not go to jail over NYS fraud

The DPP had earlier last month said the DCI investigations had determined that the lenders — Standard Chartered Bank-Kenya, KCB, Equity Bank, Diamond Trust Bank (DTB) and Co-operative Bank — suspiciously transacted the amounts and neither did

Kenya court axes banking rates cap, suspends implementation for a year

In March 2018, the central bank said the cap had probably cut 2017's estimated economic growth rate by 0.4 percent because it throttled credit to small and medium businesses.

Zedcrest Capital gives update on EFCC case involving its MD

Consequently, the EFCC made efforts, last year, to contact Mr Edenya. On several occasions, officials from the anti-graft agency reached out to Zedcrest Capital (his previous employers) to assist with the investigation.

Access Bank reacts to fraud charges against its CEO, others

the bank made financial provision for a customer — Metal Steel Products Limited — to import billets and other machinery used for the expansion of the customers’ factory.

Access Bank Managing Director, Wigwe, Others Charged With N2.5billion fraud

Wigwe and other defendants were also alleged to have obtained the sum of N2,572,500 billion, from Africa Steel Mills Limited by false representation that they were the owners of the said steel billets.

Liberia's 'missing millions': Charles Sirleaf charged

One of the world's poorest nations, Liberia has been struggling with rampant corruption.

Competition Commission asks top court to keep information from companies

Standard Bank is seeking access to documents the body has compiled on price-fixing in the foreign exchange market

Former bank employee implicated in vehicle-finance scam

Two men were arrested in Phoenix on Saturday, and four luxury vehicles - including a BMW M3 and a high-end Land Rover - were seized.

African Legal Support Facility trains African lawyers on negotiating deals in key economic sectors

Forty government negotiators and 30 lawyers in private practice representing public and private organizations across Africa, attended the workshop.