Managers of Wealth Africa

Nedbank to pay out VBS bank victims up to R100 000 per depositor

The money included investments from municipalities, government departments, stokvels and ordinary South African depositors.

SEC tasks quoted companies on regulatory compliance, lists benefits

While these regulatory requirements may appear burdensome to companies, they exist for the protection of investors who rely on accurate and timely information to make an informed judgment and for the proper governance of the companies.

The Africa Digital Inclusion Facility approves grants worth $1.3 million for two research efforts to enhance women’s digital access to loans and micro-insurance

The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility

Crypto havens lure firms fleeing regulator angst in SA

SA authorities “have been incredibly slow in terms of regulation in the industry and that leads to businesses looking internationally,” Revix CEO Sean Sanders said.

Warning lights flickering for South Africa’s wealthy taxpayer

Tax compliance, proper professional planning and the appropriate use of annual allowances are key to navigate any aggressive changes in tax legislation that may be necessary sooner rather than later,

Treasury set to float Sh75bn roads bond

The committee said the State Department for Infrastructure ha Sh75 billion in accumulated pending bills as at December 2020.

Trust company fined $835,000 for opening ‘gateway to possible money laundering’ in Angola

An investment scheme involving tycoon Jean-Claude Bastos de Morais exposed in ICIJ’s Paradise Papers investigation bore “obvious” risks of possible corruption, a Jersey court finds.

Equity extends pay back period for third of loans

Only 35 per cent of our customers have exercised that option,” Dr Mwangi said on Wednesday.

Treasury sets guarantee terms for county external loans

The Constitution allows counties to borrow from the capital markets and foreign sources once cleared by the National Treasury.

Isabel dos Santos’ Maltese consulting firm served with $230,000 tax bill

The Angolan billionaire’s company had “no intention” to carry out economic activity in Malta, the island nation’s authorities said.

City Hall seeks new terms for Sh4.5 billion KCB loan

KCB Group inherited the loan from Equity Bank in September 2014 and offered City Hall a grace period of six months before it could start servicing the debt over eight years.

GEPF reappoints Standard Bank to provide master custody and additional services

The renewal of the mandate cements Standard Bank’s position as Africa’s largest provider of custody and related services.

Ghana’s central bank launches a regulatory sandbox prioritizing blockchain-related companies.

Ghana's central bank has launched a regulatory and innovation sandbox focusing on projects building on blockchain technology.

South Africa’s biggest bank sends out earnings warning as unsecured loans bite

The bank said in November that balance sheet growth has slowed, margin pressure continues, as the impact of previous interest rate cuts filter through.

How the proposed amendments to Reg 28 will affect your retirement

‘Investors and members of retirement funds need not panic that this is going to result in irresponsible investments being made’: Malusi Ndlovu – director of large enterprises, Old Mutual.

Ramaphosa Halts Hunt for Reserve South African Finance Chief

Still, the finance chief has frequently expressed reluctance to remain in the post for long both publicly and privately, citing the need for younger politicians

South Africa’s financial emigration system has changed – here are the new rules

Positive is that the antiquated legislation around exchange control for the process is completely falling away.

CBN Calls for Greater Policy Coordination to Support Economic Recovery

In his contribution, Adamu, stated that data presented highlighted some important downside risks, which included insecurity and rising inflation, especially food.

MPs approve new law to regulate mobile loan rates

Tens of unregulated microlenders have invested in Kenya’s credit market in response to the growth in demand for quick loans.

Moody’s and Fitch send warning to South Africa

The unexpected rebound in value-added tax (VAT) receipts since the fourth quarter of2020 and higher-than-anticipated corporate tax receipts were largely responsible for this revenue out performance, said Villa.

Regulation,Tax & Compliance