Managers of Wealth Africa

Kenya’s KCB bank acquires Rwandese bank

KCB has subsidiaries in Tanzania, South Sudan, Uganda, Rwanda, Burundi as well as a representative office in Ethiopia.

Banks warn customers against violation of CBN forex directives

In line with CBN directives, only Nigerians aged 18 and up with valid Bank Verification Number would be able to purchase foreign exchange directly.

CBN threatens prosecution of forex policy defaulters

The banks added that customers could only apply for PTA and BTA once every quarter, and were liable to $4,000 and $5,000 per quarter per applicant respectively

Employers cannot “buy their way out” of retrenchment procedures

The one purpose of the LRA is to give effect to employees’ constitutional right to fair labour practices.

High Court dismisses application to set aside B-BBEE Commission’s findings: lessons for stakeholders

CRRC was established for CSR to fulfil various contractual obligations to design, manufacture, test and supply locomotives to Transnet.

Afarak Group, Absa Bank Settle Dispute

Afarak said at the time that Afarak Mogale had entered into business rescue process during the summer and hadn't been allowed to pay its debts during these proceedings.

Treasury to overhaul pension fund system

But it says it doesn’t support the DA’s private member’s bill proposing pension funds be leveraged as surety for a home loan.

Mozambique Receives Today US$305.9 Million from IMF ‘Capital Increase’

Developing countries and emerging markets will receive $275 billion of the total, IMF Managing Director Kristalina Goergieva said on 2 August at the Fund’s board approval of the issuance.

Dodgy deals by executives put a stamp of uncertainty on Postbank’s transition

The executives are implicated in dodgy Postbank contracts with a value of about R320-million, spanning the next three years.

East Africa’s Pesapal Can Operate In Kenya, Tanzania After Getting Approvals

Given the growth of mobile commerce transactions in this region, this license reinforces Pesapal’s objective to offer affordable, innovative and easy-to-use solutions for small businesses and consumers alike.

South Africa eyes national social security fund

All employers and employees will be obliged to ‘initially contribute 8-12% of qualifying earnings’

Proposed new state pension fund would wreak havoc - but Treasury says it's not govt policy

Its proposals will hold severe consequences for the investment industry.

Namibia: Fic Sets Ball Rolling On Unexplained Wealth

Dunn said the legislation will give appropriate law enforcement agencies the power to pursue UWOs.

Anti-graft war: EFCC advocates synergy with heads of security of banks

The EFCC boss while thanking the security chiefs for the assistance they have been rendering to the commission, urged them to continue to support the commission by treating requests and invitations from it with dispatch.

Experts List Measures to Address Nigeria’s Economic Crisis

Nevin pointed out that though the nation is rich, its dead assets remained a major bane to its economic growth.

African Development Bank debars Sargittarius Nigeria Limited and its affiliates for 18 months for fraudulent practices

At the expiry of the debarment period, Sargittarius Nigeria Limited will only be eligible to resume participation in African Development Bank Group-financed projects

4 tax changes planned for South Africa – including retirement and emigration

The application of a tax treaty between South Africa and the new tax resident country may, in some instances, result in South Africa forfeiting its taxing rights.

New rules for retirement fund withdrawals expected by 2022 - but be careful, say economists

Labour federation Cosatu has proposaMeanwhile, DA MP Dion George has put forward a private members bill, proposing amendments to the Pension Funds Act to allow households to use as much as 75% of their retirement funds as security for bank loans.ed that 3

New rules for retirement fund withdrawals expected by 2022 - but be careful, say economists

Meanwhile, DA MP Dion George has put forward a private members bill, proposing amendments to the Pension Funds Act to allow households to use as much as 75% of their retirement funds as security for bank loans.

African Development Bank Coding for Employment program marks milestone: 130,000 users across Africa

Students who took the online courses in the wake of Covid-19 in Africa said learning or honing digital skills helped them advance their careers.

Regulation,Tax & Compliance