Managers of Wealth Africa

A social contract in need of repair

South Africa needs an accountable democracy and ongoing engagement around tax.

Registrar-General deploys Central Beneficial Ownership Register for extractives and other high-risk sectors

Beneficial ownership is a term in domestic and international commercial law that refers to the natural persons who exercise significant influence over and receive profits from a company who are not its legal owners.

There’s a pensions train smash coming: Magnus Heystek

Heystek said the funds are no longer able to rely on the ‘old chestnut’ of long-term gains, and that South Africans are increasingly choosing to step in and take control of their investments.

Practical Solutions To Practical Problems: Pensions Hope For The Informal Sector In NDC’s Manifesto

The informal sector workers are self-employed as Beauticians and Hairdressers, Street vendors, Artisans, Drivers, Casual laborers, Farmers and Fishermen.

Regulations should allow mobile networks to become your next bank: commission

This means that regulatory design for the inevitable competition arising from the entry of tech players must be ‘appropriate’, it said.

Using intellectual property as collateral for credit access

The economic value of integrating intellectual property rights within the financial system cannot be over-emphasised in a country where most businesses do not have tangible assets such as land which are traditionally preferred as collateral by financial i

Treasury plans new M-Akiba issue

The Treasury said it will issue a new M-Akiba bond this year as part of its continuing strategy to promote savings culture and deepen financial inclusion.

World Bank names new director for East Africa office

The World Bank expects Kenya’s economic growth at 1.5 percent this year, from 5.4 percent in 2019, and contraction of 1.5 percent in the worst-case scenario under the impact of coronavirus.

Matona saw his suspension as Eskom CEO coming, Zondo hears

The former CEO detailed how a newly appointed board moved for his suspension despite his ‘wealth of experience’.

African Bank Shareholders Agree to Support Fund-Raising Efforts

The lender was bailed out by the industry and its shareholders including the South African Reserve Bank, the Government Employees Pension Fund and the nation’s six largest lenders.

Sh3.3trn bulk cash transfers signal business activity uptick

Instructions by businesses and high-net worth individuals to banks to transfer cash in their accounts increased 13.52 percent to 454,281 transactions in July compared with a month earlier — the highest volume in a year.

Akinwumi Adesina gets second five year term at AfDB

AfDB President survived several accusations including breaches of the bank’s code of ethics

SA business groups reach consensus on Covid-19 recovery plan

In particular, it's been highlighted that organised business was, for the first time, presenting common policy positions.

FUGAZ Banks suffer N1.9 trillion in CRR Debits in Q2

In total, the CBN now holds a total of N6.57 trillion in CRR debits from the nation’s top 5 banks

Top banks protest CBK freeze of new loan interest rates

The bureaucratic gridlock and a lower CBR is partly the reason average lending rates dropped to 11.89 per cent in June – a record low since 1991 when the CBK started making the data public.

Kenya Is Africa’s Easiest Target For Cyber Attackers

Nevertheless, a new study by Kaspersky suggests that Kenya is now Africa’s easiest target for cyber gangs.

Ghana planning central bank-issued digital currency

Ghana is one of several African nations to explore blockchain technology, which many see as a method of leapfrogging traditional financial infrastructure and modernising access to banking products in developing nations.

CIBN 13th Annual Bankers Conference To Focus On Facilitating A Sustainable Future

The conference will feature over 2,500 participants, across the globe who are expected to participate virtually, with the Governor of The CBN, Mr. Godwin Emefiele, CON, FCIB as Chief Host and President and Chairman of Council CIBN, Mr. Bayo Olugbemi as H

South Africa is running out of options, bank warns

The background to this view simple: the economic impact of Covid-19 has been, and will continue to be severe.

Top banks protest CBK freeze of new loan interest rates

Getting approval is a nightmare. CBK has taken a more customer protection approach as opposed to the industry needs.

Regulation,Tax & Compliance