Managers of Wealth - Africa http://africabankers.net/ Tue, 12 Nov 2019 04:44:22 GMT part of MediaG8way Group http://africabankers.net/ http://africabankers.net/assets/images/logo.png Managers of Wealth - Africa KohanaPHP FBNQuest Merchant Bank stresses generational wealth transfer News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24851/fbnquest-merchant-bank-stresses-generational-wealth-transfer The forum highlighted some of the challenges individuals and businesses encounter due to lack of a proper estate plan. Wealth and Asset Management Sanlam Private Wealth explores the powerful meeting point between wealth and craft News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24788/sanlam-private-wealth-explores-the-powerful-meeting-point-between-wealth-and-craft Benefit from in-depth expertise in wealth management to secure your future Wealth and Asset Management Surge in number of expats pushes need for international tax advice: deVere News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24771/surge-in-number-of-expats-pushes-need-for-international-tax-advice-devere This surge in demand for international tax advice has led deVere to recruit more experts and launch a tax apprenticeship scheme to meet the demands of its clients. Wealth and Asset Management ‘Diversified Old Mutual cushioned from inflation’ News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24777/amplsquodiversified-old-mutual-cushioned-from-inflationamprsquo As at November 1, 2019, OMZIL shares were trading at ZWL 3,698 cents on the Zimbabwe Stock Exchange. Wealth and Asset Management Brewin Dolphin Boosts Irish Presence As Completes Investec Wealth Buy News Aggregation Team Friday, November 01, 2019 12:00 am http://africabankers.net/article/24732/brewin-dolphin-boosts-irish-presence-as-completes-investec-wealth-buy Brewin said the total consideration, of EUR50.2 million, consisted of EUR13 million in net assets and client relationships of EUR37.2 million. Wealth and Asset Management These graphs show how wealth in South Africa has flatlined News Aggregation Team Wednesday, October 30, 2019 12:00 am http://africabankers.net/article/24690/these-graphs-show-how-wealth-in-south-africa-has-flatlined “This is largely due to currency depreciation, as the rand has lost half its value since 2010,” the group said. Wealth and Asset Management Barclays Bank Seychelles to Begin Blue-to-Red Transformation Into Absa News Aggregation Team Tuesday, October 15, 2019 1:00 am http://africabankers.net/article/24502/barclays-bank-seychelles-to-begin-blue-to-red-transformation-into-absa Barclays Bank Seychelles said it is taking a sequenced approach to its change plans Wealth and Asset Management Standard Bank banks top accolades at Private Banker International Global Wealth Awards News Aggregation Team Tuesday, October 15, 2019 1:00 am http://africabankers.net/article/24506/standard-bank-banks-top-accolades-at-private-banker-international-global-wealth-awards Standard Bank’s global head of wealth and investment Chris Browne said these awards were a testament to the lender’s ongoing commitment to wealth preservation and service excellence. Wealth and Asset Management Ocorian expands African footprint with new East African office News Team Tuesday, October 15, 2019 1:00 am http://africabankers.net/article/24509/ocorian-expands-african-footprint-with-new-east-african-office Operating from the Nairobi office, we have also appointed Andrew Musoke as Business Development Director. Wealth and Asset Management A Royal encounter: Sanlam's brush with the Sussexes, and why the Queen is the ultimate family business CEO News Team Monday, October 14, 2019 1:00 am http://africabankers.net/article/24485/a-royal-encounter-sanlamamp039s-brush-with-the-sussexes-and-why-the-queen-is-the-ultimate-family-business-ceo This is such an exciting time for our industry Wealth and Asset Management ETI has announced board appoitments News Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24846/eti-has-announced-board-appoitments Mr. Malik has also been the Regional Representative of the Investment Fund for Developing Countries Executive Moves Sanlam names Caroline Laichena as new General Insurance subsidiary leader News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24818/sanlam-names-caroline-laichena-as-new-general-insurance-subsidiary-leader At the helm of Sanlam General Insurance, Ms Laichena joins her Sanlam Life counterpart Ms Stella Njung’e in an all ladies’ formidable duo providing leadership support for Dr Tumbo as the subsidiary CEOs and Principal Officers. Executive Moves Leadership changes commence as part of Maitland’s succession plan News Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24825/leadership-changes-commence-as-part-of-maitlandamprsquos-succession-plan A new Maitland Executive Committee has been appointed by the Board and comprises Executive Moves Ndukwe quits Access Bank board News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24794/ndukwe-quits-access-bank-board The board expressed its appreciation to Ndukwe for his “immense contributions to the bank these past years”. Executive Moves Colin Coleman, head of Goldman Sachs South Africa, moves on News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24799/colin-coleman-head-of-goldman-sachs-south-africa-moves-on Coleman was rumoured to be in line for a post in President Cyril Ramaphosa’s Cabinet, but in the end, it’s probable that someone from a US investment bank, no matter how dedicated to SA, was too tricky to square with the ANC’s support ba Executive Moves Rwanda's Paul Kagame appoints new Foreign minister in Cabinet reshuffle News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24789/rwandaamp039s-paul-kagame-appoints-new-foreign-minister-in-cabinet-reshuffle His replacement, Mr Biruta, 60, is a seasoned politician who has served in several ministerial positions, and as president of the senate. Executive Moves Sasol Limited: Appointment of Executive Director, Resignation of Company Secretary and Appointment of Acting Company Secretary News Team Tuesday, October 29, 2019 12:00 am http://africabankers.net/article/24684/sasol-limited-appointment-of-executive-director-resignation-of-company-secretary-and-appointment-of-acting-company-secretary Mr Kahla joined Sasol in 2011 and serves as the Executive Vice President: Advisory, Assurance and Supply Chain and Company Secretary. Executive Moves HSBC to embark on job cuts across the MENA region in November News Aggregation Team Sunday, October 27, 2019 1:00 am http://africabankers.net/article/24658/hsbc-to-embark-on-job-cuts-across-the-mena-region-in-november The global banking and markets and commercial banking units may bear the brunt of the reductions, sources said Executive Moves African Development Bank climate change initiative: Top experts form the Adaptation Benefits Mechanism board News Team Friday, October 25, 2019 1:00 am http://africabankers.net/article/24641/african-development-bank-climate-change-initiative-top-experts-form-the-adaptation-benefits-mechanism-board The ABM aims to mobilize public and private sector finance for enhanced climate change resilience and adaptation by creating a new asset – certified adaptation benefits. Executive Moves PIC fires investment manager implicated in AYO deal News Aggregation Team Friday, October 25, 2019 1:00 am http://africabankers.net/article/24649/pic-fires-investment-manager-implicated-in-ayo-deal AYO has defended the investment, saying the asset manager's funds are not at risk. Executive Moves New Mauritian rules facilitating cross-border insolvency proceedings News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24831/new-mauritian-rules-facilitating-cross-border-insolvency-proceedings New rules facilitating cross-border insolvency proceedings came into force on 11 October 2019 and shall be deemed to have come into operation from 25 July 2019. Legal Nigeria, FBI turn the heat on Yahoo yahoo scammers News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24808/nigeria-fbi-turn-the-heat-on-yahoo-yahoo-scammers After decades of wishy-washy efforts to stem the vice, Nigerian authorities have been stung into action by a grand jury in the United States of America indicting 77 Nigerian fraudsters on August 23, 2019. Legal Mozambique to appeal South African ruling to set aside extradition of ex-finance minister News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24810/mozambique-to-appeal-south-african-ruling-to-set-aside-extradition-of-ex-finance-minister His homeland has also requested his extradition, sparking a legal battle over where Chang should be sent. Legal Capitec shares can be sold to settle state capture losses, court rules News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24784/capitec-shares-can-be-sold-to-settle-state-capture-losses-court-rules Judge Bashier Vally ruled against Capitec in the Johannesburg High Court on Tuesday. Legal 8 Kenyans arrested in Rwanda over Equity Bank cyber fraud attempt News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24798/8-kenyans-arrested-in-rwanda-over-equity-bank-cyber-fraud-attempt The Rwandese authorities said the case file has been compiled and submitted to the country’s Prosecution team for further direction. Legal Ex-PPMC boss to forfeit N2.4bn, property to FG News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24768/ex-ppmc-boss-to-forfeit-n24bn-property-to-fg Investigation revealed that N1.4bn was traced to six accounts in two different banks Legal The Impact of Illicit Financial Flows to African Economiest News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24779/the-impact-of-illicit-financial-flows-to-african-economiest According to the IFF panel’s 2013 African Progress report at the World Economic Forum, the continent was reported to be losing more through IFFs than it receives in aid and foreign direct investment. Legal Manhattan condo cited in Nigeria corruption case listed for $7.1M News Aggregation Team Monday, November 04, 2019 12:00 am http://africabankers.net/article/24759/manhattan-condo-cited-in-nigeria-corruption-case-listed-for-71m Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News Legal World changes tack, now targets individuals to take responsibility for their misdeeds News Aggregation Team Sunday, November 03, 2019 12:00 am http://africabankers.net/article/24747/world-changes-tack-now-targets-individuals-to-take-responsibility-for-their-misdeeds The restrictions have a vein – they are mostly against warlords and the corrupt. Legal Bridgette Motsepe-Radebe cited in Botswana R10 billion theft News Aggregation Team Sunday, November 03, 2019 12:00 am http://africabankers.net/article/24748/bridgette-motsepe-radebe-cited-in-botswana-r10-billion-theft The court heard that Maswabi was found to have more that $390 million in her nine personal global accounts Legal Tunisia Becomes First Country to Issue a Central Bank Digital Currency News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24840/tunisia-becomes-first-country-to-issue-a-central-bank-digital-currency It is also clear that it is not a cryptocurrency and differentiates itself from the Venezuelan Petro. I FinTech SS&C Intralinks Report Finds Leaks of Mergers and Acquisitions Deals Decreasing News Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24801/ssampampc-intralinks-report-finds-leaks-of-mergers-and-acquisitions-deals-decreasing Increased regulatory scrutiny and tighter controls credited with drop for the second consecutive year FinTech Nedbank launches ‘lite’ version of its banking app News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24802/nedbank-launches-amplsquoliteamprsquo-version-of-its-banking-app The app can also be downloaded directly from the Nedbank website by clients that don’t have access to the Google Play store. It uses “very little” battery, too. FinTech Ghanaian bank opts for Temenos system News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24805/ghanaian-bank-opts-for-temenos-system Together with Temenos we can deliver on our vision to become the bank of choice in Ghana, providing a simple, secure and differentiated banking experience to our customers. FinTech UBA introduces self-printing debit card machine News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24807/uba-introduces-self-printing-debit-card-machine We are creating superior value for all our customers, because we believe they are key to our everyday operations FinTech Case study: First Technology National revolutionises processing, storage capacity with innovative solution at the South African Mint Company News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24814/case-study-first-technology-national-revolutionises-processing-storage-capacity-with-innovative-solution-at-the-south-african-mint-company After First Technology National conducted an in-depth assessment of the environment, it became clear that the RFP requirements would not resolve the issues. FinTech South African companies are desperate for tech skills – but just can’t find them News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24790/south-african-companies-are-desperate-for-tech-skills-ampndash-but-just-canamprsquot-find-them “To challenge entrenched market players, digital businesses need to innovate, but at times battle to find the technical expertise to do so." FinTech South Africa’s first ever blockchain-based property register pilot News Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24791/south-africaamprsquos-first-ever-blockchain-based-property-register-pilot The benefit of the blockchain solution is that it allows the data to be stored in a decentralised, secure database FinTech Welcome to ‘Silicon Savannah’ News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24796/welcome-to-amplsquosilicon-savannahamprsquo Because Kenya is emerging as the next big tech hub. FinTech West African Financial Sector Embraces Digital Transformation And Innovation News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24767/west-african-financial-sector-embraces-digital-transformation-and-innovation Changing the paradigm of Instant Payments, was explained by Rishi Pillay, Managing Executive – FSS FinTech BoU hands license to Absa Uganda to formalise name change News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24854/bou-hands-license-to-absa-uganda-to-formalise-name-change Absa’ was chosen as the future brand after wide consultation with employees and stakeholders across the group’s operations over a period of about a year. Retail Banking Here’s Why Nigerian Banks are Targeting Women News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24839/hereamprsquos-why-nigerian-banks-are-targeting-women Access Bank has seen two-fold rise in deposits from women Retail Banking Microfinance bank losses hit Sh1.4bn News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24848/microfinance-bank-losses-hit-sh14bn Market leader Kenya Women Microfinance Bank, formerly KWFT, was the major casualty closing in a loss-making position Sh1 billion.EoBxu4o9SxIP6tYGRz2l4LgBKKAR1IM.Q Retail Banking Ecobank Fighting the Sustainability Battle News Aggregation Team Sunday, November 10, 2019 12:00 am http://africabankers.net/article/24835/ecobank-fighting-the-sustainability-battle The bank fell short of key performing parameters for deposit money banks in the review period with deposits from customers dropping by 3 percent while loans and advances to customers declined by 6 percent. Retail Banking Capitec hits 13 million customers in South Africa News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24828/capitec-hits-13-million-customers-in-south-africa Capitec is by far the largest bank in South Africa by customer numbers, having already led the sector by this measure at the time of its full year results (March 2019). Retail Banking Capitec completes acquisition of Mercantile Bank News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24819/capitec-completes-acquisition-of-mercantile-bank Mercantile was offered for sale by its shareholder, Caixa, a Portuguese bank, due to it divesting from non-core operations outside of Portugal as part of its recapitalisation plan. Retail Banking CalBank nominates Philip Owiredu as CEO News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24821/calbank-nominates-philip-owiredu-as-ceo It said over the years, he had built strong relationships with other banks and financial partners, operators and international development finance institutions Retail Banking AfricaWeb staff among top 50 most influential marketers in Ghana News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24823/africaweb-staff-among-top-50-most-influential-marketers-in-ghana The ranking provides a list of heads of marketing, sales, and commercial of various companies in Ghana who are doing exciting things to put their companies out there and record impressive marketing performance according to Prince Akpah, MD of Avance Media Retail Banking For The First Time, Rwandan Bank Lists On Africa’s Top 100 Banks News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24830/for-the-first-time-rwandan-bank-lists-on-africaamprsquos-top-100-banks A Special Report on Africa’s top 100 Banks 2019 released by African business magazine – a subsidiary of IC publications, said Rwanda made its first appearance, with the smallest bank in the top 100 in 2018 making the cut with capital of $175m Retail Banking Ghana's banking sector records strong profits in August 2019 News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24763/ghanaamp039s-banking-sector-records-strong-profits-in-august-2019 The strong profit performance was underpinned by higher growth in net interest income of 26.3 per cent in August 2019 after recording a marginal contraction in August 2018 Retail Banking Barclays wins bank of the year as its MD is named Woman of Excellence of the Year News Aggregation Team Wednesday, October 30, 2019 12:00 am http://africabankers.net/article/24694/barclays-wins-bank-of-the-year-as-its-md-is-named-woman-of-excellence-of-the-year Mrs Abena Osei-Poku's award was also in acknowledgement of her exemplary leadership which continues to drive high performance not only within Barclays but is also setting standards in corporate Ghana. Investment Banking Top US bank Goldman Sachs buys stake in Twiga Foods News Aggregation Team Monday, October 28, 2019 12:00 am http://africabankers.net/article/24667/top-us-bank-goldman-sachs-buys-stake-in-twiga-foods It marks Goldman Sachs first major deal in a Kenyan firm. Investment Banking Standard Bank wins Best Investment Bank in Namibia award News Aggregation Team Wednesday, October 23, 2019 1:00 am http://africabankers.net/article/24616/standard-bank-wins-best-investment-bank-in-namibia-award The EMEA Finance Award comes on the heels of another prestigious award that the bank received from Euromoney Magazine in July this year, recognising Standard Bank as the Best Bank in Namibia. Investment Banking Absa arranges first US dollar social bond issued by an African corporate News Aggregation Team Thursday, October 17, 2019 1:00 am http://africabankers.net/article/24551/absa-arranges-first-us-dollar-social-bond-issued-by-an-african-corporate The proceeds of social bonds exclusively finance or re-finance projects that deliver a wider social impact. Investment Banking Barclays Ghana explores trade opportunities in China & Turkey for Ghanaian SMEs News Aggregation Team Tuesday, October 15, 2019 1:00 am http://africabankers.net/article/24500/barclays-ghana-explores-trade-opportunities-in-china-ampamp-turkey-for-ghanaian-smes Mrs. Anim-Yeboah said the bank’s Business Club members on the trip will also visit some key industrial and tourist cities in China and Turkey. Investment Banking Absa appointed joint bookrunner in Africa’s first US dollar corporate social bond News Aggregation Team Monday, October 14, 2019 1:00 am http://africabankers.net/article/24491/absa-appointed-joint-bookrunner-in-africaamprsquos-first-us-dollar-corporate-social-bond Green bonds were the first type of socially responsible investing instruments Investment Banking South Africa's Absa Plans China Office in Asia Investment Banking Expansion News Team Friday, October 11, 2019 1:00 am http://africabankers.net/article/24465/south-africaamp039s-absa-plans-china-office-in-asia-investment-banking-expansion Bank seeks on-the-ground presence from next year, CIB CEO says Investment Banking Lori expands pan-African footprint with new Nigerian operations News Aggregation Team Thursday, October 03, 2019 1:00 am http://africabankers.net/article/24365/lori-expands-pan-african-footprint-with-new-nigerian-operations Lori already has some competition in Nigeria. Investment Banking Barclays to fund buyers of Centum apartments News Aggregation Team Wednesday, September 25, 2019 1:00 am http://africabankers.net/article/24276/barclays-to-fund-buyers-of-centum-apartments The bank will fully fund houses sold at below Sh10 million and provide 90 percent financing for units priced above that level. Investment Banking Barclays 2019 H1 skyrocket to 49 % growth News Aggregation Team Tuesday, September 17, 2019 1:00 am http://africabankers.net/article/24157/barclays-2019-h1-skyrocket-to-49-growth Financial figures indicate that net Interest income increased by 8 percent year on year, mainly driven by balance sheet growth. Investment Banking Capital demands African regulatory stability News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24853/capital-demands-african-regulatory-stability Financial fundamentals and sustainability considerations will also be key to attracting the project financing required to develop recent discoveries. Alternative Investments Banks attract $4.74bn foreign investments in six months News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24844/banks-attract-474bn-foreign-investments-in-six-months This is an increase of 216.03 per cent over the value recorded in the fourth quarter of 2018 and 34.61 per cent increase over the value recorded in the first quarter of 2018. Alternative Investments Africa Investment Forum: “Short on talk, heavy on deals”, African Development Bank, South African government and partners affirm News Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24845/africa-investment-forum-ampldquoshort-on-talk-heavy-on-dealsamprdquo-african-development-bank-south-african-government-and-partners-affirm Around 2000 delegates are expected to attend the innovative investment marketplace Alternative Investments Frank Salt promotes Malta property in UK and South Africa News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24852/frank-salt-promotes-malta-property-in-uk-and-south-africa Malta is one of the first EU member states to have formulated a specific residency plan for UK citizens opting for an attractive EU base after Brexit occurs. Alternative Investments Nigeria to lure foreign investors with attractive tax incentives News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24829/nigeria-to-lure-foreign-investors-with-attractive-tax-incentives This plea was made by Babatunde Fowler, Executive Chairman of the Federal Inland Revenue Service during the Nigeria-Canada Investment Summit in Abuja. Alternative Investments Global powers accelerate plays for influence in Africa News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24822/global-powers-accelerate-plays-for-influence-in-africa In 2017, Russian-African trade surged to $17.4 billion, up significantly from $5.7 billion in 2009. Although Russia’s trade volumes with Africa are relatively tiny, exports represent a larger share of its GDP than China's or India's. Alternative Investments Pension schemes return to equities at the bourse News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24826/pension-schemes-return-to-equities-at-the-bourse Financial stocks could soon start posting better returns Alternative Investments CEOs commit R363 billion to boost economy News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24804/ceos-commit-r363-billion-to-boost-economy The second instalment of the conference yesterday saw investors pledging investments totalling billions to help reignite the ailing economy, which is growing at 0.5â¯percent. Alternative Investments Better wealth distribution pledged as prosperous Mauritius votes for leader News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24809/better-wealth-distribution-pledged-as-prosperous-mauritius-votes-for-leader Polling stations opened at 7 a.m. and close 6 p.m. with results due out on Friday. Alternative Investments Moroccan Pension Fund to Buy 5 University Hospital Centers News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24811/moroccan-pension-fund-to-buy-5-university-hospital-centers The move is among the innovative mechanisms that the ministry introduced in the 2020 Finance bill. Alternative Investments Zimbabweans seek to shelter savings News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24836/zimbabweans-seek-to-shelter-savings Makani’s road to disillusionment with Zimbabwe’s pensions system dates to 2009, when hyperinflation forced the government to abandon its sovereign currency and adopt the United States dollar. Comment, Analysis & Research Why South Africans are closing their bank accounts – and where they’re going instead News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24842/why-south-africans-are-closing-their-bank-accounts-ampndash-and-where-theyamprsquore-going-instead Customers threatening to cancel accounts Comment, Analysis & Research KCB makes U-turn on keeping NBK after merger News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24849/kcb-makes-u-turn-on-keeping-nbk-after-merger NBK deposits dropped to Sh82.5 billion in September from Sh91.3 billion in June, a period when the market had knowledge of the merger crafted as rescue deal aimed at pulling the mid-tier lender out of its perennial low liquidity troubles. Comment, Analysis & Research East Africa faces debt crisis as borrowing surpasses $100b mark News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24850/east-africa-faces-debt-crisis-as-borrowing-surpasses-100b-mark The International Monetary Fund considers a debt to GDP ratio of 50 per cent to be within the tolerable limit for developing economies such as the EAC members. Comment, Analysis & Research Companies run by billionaires are better for investors News Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24824/companies-run-by-billionaires-are-better-for-investors This is one of the findings of the annual UBS and PwC Billionaires Insights report, The Billionaire Effect. Comment, Analysis & Research Seychelles: Searching for yield surrounded by the Indian Ocean News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24827/seychelles-searching-for-yield-surrounded-by-the-indian-ocean The Seychelles comprises 115 islands in the Indian Ocean, spread across a vast area to the east of mainland Africa and north of Madagascar. Comment, Analysis & Research This is what awaits South Africa if Moody’s cuts credit rating to junk News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24832/this-is-what-awaits-south-africa-if-moodyamprsquos-cuts-credit-rating-to-junk If Moody’s does downgrade South Africa, rand bonds will be excluded from the FTSE World Government Bond Indexes, which comprise 14 currencies including the dollar and yen, and have about $3 trillion tracking them. Comment, Analysis & Research This is what awaits South Africa if Moody’s cuts its rating to junk News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24806/this-is-what-awaits-south-africa-if-moodyamprsquos-cuts-its-rating-to-junk Some analysts predict a downgrade is already priced in. Comment, Analysis & Research Mauritius attracting wealthy South Africans News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24792/mauritius-attracting-wealthy-south-africans Mauritius is more than just a ‘jurisdiction of choice'. Comment, Analysis & Research Opinion: The impact of illicit financial flows to African economies News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24795/opinion-the-impact-of-illicit-financial-flows-to-african-economies Further, this was considered to be an underestimate as transactional data is found wanting in most African countries. Comment, Analysis & Research Taxman demands PINs of pension scheme members News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24815/taxman-demands-pins-of-pension-scheme-members We would also like to update your beneficiary information. Tax Nigeria’s $15bn annual loss to tax evasion News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24797/nigeriaamprsquos-15bn-annual-loss-to-tax-evasion In a statement on the event, FIRS said that the regime was part of Nigeria’s commitment to improving transparency in tax administration, increased tax revenue collection, enhanced effectiveness and efficiency service delivery. Tax ATAF, World Bank partner to strengthen African tax system News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24772/ataf-world-bank-partner-to-strengthen-african-tax-system The African Tax Administration Forum has in many instances underscored that African countries’ biggest loophole in domestic revenue mobilization was that tax collection revenues lack capacity and thus were not fully effective and efficient in deli Tax KRA feels the heavy weight of government’s desperation for money News Aggregation Team Sunday, November 03, 2019 12:00 am http://africabankers.net/article/24749/kra-feels-the-heavy-weight-of-governmentamprsquos-desperation-for-money The KRA expects to charge 600 suspected tax cheats in the next 12 months as it moves to recover lost revenue.The KRA expects to charge 600 suspected tax cheats in the next 12 months as it moves to recover lost revenue. Tax Ramaphosa hopes tax collection will improve 'in a year or two' News Aggregation Team Friday, November 01, 2019 12:00 am http://africabankers.net/article/24731/ramaphosa-hopes-tax-collection-will-improve-amp039in-a-year-or-twoamp039 If you look at the policies that we have adopted, you will see efforts have been made to reposition the economy," said Ramaphosa. Tax South Africans should brace for higher taxes News Aggregation Team Thursday, October 31, 2019 12:00 am http://africabankers.net/article/24713/south-africans-should-brace-for-higher-taxes That has added to the strain on consumption spending and economic growth. Tax IMF calls for more tax collection to lower public debt News Aggregation Team Tuesday, October 29, 2019 12:00 am http://africabankers.net/article/24677/imf-calls-for-more-tax-collection-to-lower-public-debt Budget Director-General Geoffrey Mwau admitted that the country’s fiscal space had narrowed and they were looking at ways of consolidating from the revenue side. Tax Just 12,000 wealthy SA taxpayers contribute more than 2.4 million others News Aggregation Team Tuesday, October 29, 2019 12:00 am http://africabankers.net/article/24682/just-12000-wealthy-sa-taxpayers-contribute-more-than-24-million-others Personal income tax collections are of particular concern because South Africa relies heavily on these revenues. Tax Reality dawns on Treasury over tax revenue targets News Aggregation Team Monday, October 28, 2019 12:00 am http://africabankers.net/article/24661/reality-dawns-on-treasury-over-tax-revenue-targets As a result, he told National Assembly’s Budget and Appropriations Committee, Treasury had decided to cut the target for the current financial year. Tax Forget about DTAA, embrace tax incentives to bring investments News Aggregation Team Friday, October 25, 2019 1:00 am http://africabankers.net/article/24656/forget-about-dtaa-embrace-tax-incentives-to-bring-investments TJNA argues that instead, they result in massive revenue leakage for African countries which outweighs incoming foreign direct investment (FDI). Tax The Russia-Africa Summit: The Next Stage in the Kremlin’s Africa Charm Offensive News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24837/the-russia-africa-summit-the-next-stage-in-the-kremlinamprsquos-africa-charm-offensive Russia is no stranger to Africa. Regulation,Tax & Compliance East Africa debt load is pain for future generations News Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24838/east-africa-debt-load-is-pain-for-future-generations How they maneuverer to sustain growth while minimising fiscal risk will largely determine whether they all get home in one piece. Regulation,Tax & Compliance CBK regains control of monetary policy after Uhuru signs repeal of interest law News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24841/cbk-regains-control-of-monetary-policy-after-uhuru-signs-repeal-of-interest-law The inclusion of CBR in the formula for determining cost of loans, however, left CBK hamstrung, blunting its ability to alter cost of loans without hurting the wider economy through change in the price of credit. Regulation,Tax & Compliance Nigerian banks stepping up efforts to plug gender gap News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24843/nigerian-banks-stepping-up-efforts-to-plug-gender-gap Only one in three women in Africa’s most populous nation currently has an account, development body says Regulation,Tax & Compliance Capital demands African regulatory stability News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24855/capital-demands-african-regulatory-stability Financial fundamentals and sustainability considerations will also be key to attracting the project financing required to develop recent discoveries Regulation,Tax & Compliance Cyril Ramaphosa: Investment Achievements Need To Be Celebrated News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24856/cyril-ramaphosa-investment-achievements-need-to-be-celebrated By the conclusion of the conference last Thursday, the total amount committed by corporates was R363 billion and excluded an additional R8 billion was still subject to regulatory or board approvals. Regulation,Tax & Compliance Kenya offers citizenship in investor push News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24816/kenya-offers-citizenship-in-investor-push Moses Ikiara, KenInvest managing director, said the agency held “positive discussions” with Interior Secretary Fred Matiang’i with a view to developing a framework to ensure the vetting is watertight and free from abuse. Regulation,Tax & Compliance Regulator clears Cobus Kellermann following multi-year probe News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24817/regulator-clears-cobus-kellermann-following-multi-year-probe Kellerman denied allegations of wrongdoing at the time. Regulation,Tax & Compliance Reasons for entrepreneurs to consider setting up an offshore business News Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24833/reasons-for-entrepreneurs-to-consider-setting-up-an-offshore-business The motivation and benefit of using offshore structures is less about tax planning and more about operational efficiency and access to opportunities. Regulation,Tax & Compliance Some municipalities struggling to deliver services after VBS losses, AG warns News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24813/some-municipalities-struggling-to-deliver-services-after-vbs-losses-ag-warns VBS was placed under curatorship by the South African Reserve Bank in March last year Regulation,Tax & Compliance Water risks should be incorporated into investment processes News Aggregation Team Monday, November 11, 2019 12:00 am http://africabankers.net/article/24847/water-risks-should-be-incorporated-into-investment-processes The report also identified a number of water risks which may be ignored by investors but which should be brought into processes. ESG Trade and Development Bank, UNEP to collaborate on climate finance News Aggregation Team Sunday, November 10, 2019 12:00 am http://africabankers.net/article/24834/trade-and-development-bank-unep-to-collaborate-on-climate-finance In the field of clean energy finance, TDB and UNEP will work to enhance investment opportunities for both public and private finance to support the dissemination of clean energy technologies. ESG Morocco Leads African Coalition for ‘Smart Climate’ Ahead of COP 25 News Aggregation Team Friday, November 08, 2019 12:00 am http://africabankers.net/article/24820/morocco-leads-african-coalition-for-amplsquosmart-climateamprsquo-ahead-of-cop-25 The continentally and globally acknowledged performances—and expertise—of the OCP group have emboldened Morocco in its desire to take the driver’s seat on sustainability issues in Africa. ESG Ignore sustainable investment at your own Peril News Aggregation Team Thursday, November 07, 2019 12:00 am http://africabankers.net/article/24803/ignore-sustainable-investment-at-your-own-peril There is growing recognition that a narrow focus on financial metrics for short-term gain against the backdrop of a rapidly changing world is simply careless, and ultimately damaging to returns. ESG Multi-donor fund converts to concessional finance facility News Aggregation Team Wednesday, November 06, 2019 12:00 am http://africabankers.net/article/24793/multi-donor-fund-converts-to-concessional-finance-facility The African Development Bank’s Board of Governors has approved the conversion of the Bank-administered multi-donor trust fund Sustainable Energy Fund for Africa (SEFA) into a ‘special fund’ ESG SA needs 5 000 new wind turbines - and time is tight News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24778/sa-needs-5-000-new-wind-turbines-and-time-is-tight This is in addition to the 1 362 MW of capacity that has already been contracted for between 2019 and 2021. ESG MarketAxess Raises Funds for Emerging Market Communities News Aggregation Team Tuesday, November 05, 2019 12:00 am http://africabankers.net/article/24781/marketaxess-raises-funds-for-emerging-market-communities "We’ve raised nearly $2 million across the last seventeen years and remain deeply committed to the quality of life in emerging market countries.” ESG International agencies donate funds for conservation of Kaya forests News Aggregation Team Sunday, November 03, 2019 12:00 am http://africabankers.net/article/24750/international-agencies-donate-funds-for-conservation-of-kaya-forests The sacred Kaya forests are part of the Eastern African Coastal Forests Eco Region recognized for their global importance ESG Small Steps are not Enough News Aggregation Team Monday, October 21, 2019 1:00 am http://africabankers.net/article/24582/small-steps-are-not-enough Multi-lateral Development Banks need to make a step change on climate action and clean energy access ESG There’s never been a better time to invest in a better world, says Sanlam Investments News Aggregation Team Friday, October 18, 2019 1:00 am http://africabankers.net/article/24565/thereamprsquos-never-been-a-better-time-to-invest-in-a-better-world-says-sanlam-investments Sanlam Investments believes new times demand new ways of thinking ESG