Managers of Wealth Africa

FNB denies banking relationship with fraud-accused crypto company

FNB risk spokesperson Nadiah Maharaj adamantly refused to acknowledge any relationship with the fraud-accused company.

New rules planned for banks in South Africa – including annoying marketing calls

The code of conduct outlines when a bank is allowed to contact you through direct marketing, how and what consent must be given by customers, and any information that must be included in direct marketing plans.

South Africa’s tax base has taken a big knock

This follows a similar note from PwC in March when the group warned that South Africa is relying too heavily on income and direct taxes – most of which are from a declining base of taxpayers.

CBN Grants Lotus Non-Interest Banking Licence

“The bank aims to be a socially responsible organisation that will satisfy its customers across all touch-points.”

Two European Investment Bank reports highlight solutions for development challenges and the importance of partnership with Africa

A Partnership with Africa lays out the EIB’s track record in Africa and illustrates how the EIB believes it can deliver better in the years ahead

Zimbabwe: Pension Funds, Insurers Get New Guidelines

Related to this, the updated guideline for insurance firms also made it explicitly clear that such funds are not required to set up sub-accounts provided they acquired the Paid-Up Status prior to December 2018.

BoG was right to decline Parliament invitation; BSDI law is clear – Banking Consultant

“It is not in the peak of the case in court that the Bank of Ghana will be summoned to parliament”, he pointed out.

Here is the plan to regulate Bitcoin and other crypto-assets in South Africa

The IFWG said that its intention is not to regulate the actual crypto assets and associated products, but rather the entities that provide services in relation to such products.

South Africa to regulate Cryptocurrency trading

The IFWG paper also highlighted that the recent Ponzi scheme of a Bitcoin trader late last year and other cases of market abuse has brought about the need for tighter rules around the cryptocurrency market in the country.

CBN debunks report on planned nationalisation of Unity Bank

However, analysts note that just last month, the CBN’s Monetary Policy Committee ( MPC) noted in the communiqué it issued at the end of its meeting that the banking industry is in good health.

Sh5m payout for tax evasion whistleblowers

“This will encourage receipt of voluntary information to KRA thereby bolstering tax compliance and revenue collection,” Mr Yatani said in his Budget speech yesterday.

UBA, DEG unveils $50m loan support for SMEs

According to Tilemann, the funding provided by DEG is partly supported by EB-SME Finance Fund Emerging Markets, while the fund’s adviser is a 100% subsidiary of Evangelische Bank (EB).

SEC targets $85bn global social bonds market

The proposed rules also stated that eligible projects should also target people living below the poverty line, excluded and/or marginalised populations and/or communities, vulnerable groups, and with disabilities.

FMDQ Commends CBN for Restoring Transparency in FX Market

To this end, the FMDQ CEO said the implementation of market initiatives have seen a significant increase in the turnover recorded in the FX market

Legal concerns in digital business transformation

Digital used to be about coding and IT, now it is becoming a people business. -Mary Kate Loftus

Terragon Become First Africa Company To get CDP Verified

Terragon has also integrated a Facebook solution, called Facebook Conversions API to capture important online and offline through performance-based campaigns, such as customer acquisition, app install, a lead generation without cookies.

Zimbabwe to ban firms from forex auctions over 'rampant abuse'

The gap between the official and parallel market rates has widened to as much as Z$130 per U.S dollar, although authorities have maintained the rate at 84.76.

CBN Increases Forex Allocation to Banks To Meet Customers Request

Emefiele had last week reiterated the bank’s commitment to ensuring steady availability of foreign exchange for manufacturers.

Absa delays financing policy on mining, oil and gas by six months

The bank is now expected to deliver the key policy document by the end of 2021

European and African leaders call for a 'New Deal' for Africa

The global economy could lose one of its future drivers of growth.

Regulation,Tax & Compliance