Managers of Wealth Africa

CBN orders banks to apply I&E rates to PAPSS Transactions

The CBN disclosed this in a circular introducing the Guidelines on Operations of PAPSS in Nigeria, signed by the Director, Trade and Exchange Department, CBN, Dr Ozoemena Nnnaji.

Cardano may need Africa more than Africa needs Cardano as the DeFi battle heats up

For Cardano, the competition in decentralised finance (DeFi) is heating up with more competitors joining the fray.

With LIBOR soon ending – What options are available to South Africans when selecting an alternative reference rate

The wide spread but informal endorsement of different rates has, allowed parties to start thinking more broadly about the rates that they wish to apply in respect of their own products.

FATF warns SA government to improve monitoring and prosecuting of financial crimes to avoid the

‘grey list’‘Institutions which do not do business in the financial sector are difficult to identify in terms of illegal cash flows and crime’: National Treasury deputy director-general Ismail Momoniat.

The Pandora Papers and Mohammed Bello-Koko

The Pandora Papers are out. Startling revelations are seeping out. Some saints have been demystified.

Generational property in The Bahamas: how to acquire documentary title

Under the laws of The Bahamas, the applicant must be in factual possession of the land for a period of 12 years or more to successfully bring a claim for adverse possession.

How will the new provident fund rules affect the money saved before its implementation date?

This amount will earn investment returns and is kept as a separate record from your new money

South Africa’s Central Bank Model Urges Rate Hikes

Since the start of this year, none of the five MPC members have voted for further easing and the panel has consistently indicated that the next move will be an increase.

Absa breaches lending law in Sh18.8bn loan to EABL

A bank must not lend more than 25 percent of its core capital to one borrower or related borrowers in the rule known as single obligor.

Deputy Judge President’s warnings regarding urgent applications

The DJP reminded practitioners that the ultimate test as to whether a matter is urgent, is whether irreparable harm is apparent if an order is not granted in that week.

Reserve Bank model shows rate hikes coming for South Africa

The stronger-than-expected economic recovery in the first half of 2021, when output rose 7.5% from a year earlier, suggests inflation pressures may be stronger than initial predictions. Price increases are already around 4.5% where the central bank prefer

What proposed pension changes will actually mean for South Africa

According to the Green Paper itself, ‘about 1 million older persons are excluded in the existing state benefits’.

Strengthen anti-money laundering regimes — Ken Ofori-Atta

Following strict adherence to an action plan the FATF drew for the country, with timelines from 2019 to 2021 to address those deficiencies, the country was eventually taken off the list.

The Statement of Practice issued on 25 August 2021 clarifies the tax treatment of trusts and foundations established in Mauritius

Any trust or foundation may claim partial exemption on such categories of income specified in the ITA subject to satisfying the conditions prescribed relating to substance of their activities.

Regulation,Tax & Compliance