Managers of Wealth Africa

Reasons for entrepreneurs to consider setting up an offshore business

The motivation and benefit of using offshore structures is less about tax planning and more about operational efficiency and access to opportunities.

Some municipalities struggling to deliver services after VBS losses, AG warns

VBS was placed under curatorship by the South African Reserve Bank in March last year

African Development Bank’s Sustainable Energy Fund for Africa converts to concessional finance facility

First established in 2012, SEFA is anchored in a commitment of $121 million by the Governments of Denmark, United States, United Kingdom, Italy, Norway and Spain

ICASA publishes information memorandum on high-demand spectrum

The Information Memorandum further provides guidance to stakeholders and prospective applicants on the process and criteria to be applied by the Authority in the licensing of the spectrum.

Sustained DDoS Attack on South African Banks Accompanied by Ransom Notes

It is unclear if there is any relationship with recent hacking activity directed at South African ISPs, which have been hit by a wave of similar attacks in recent weeks.

Rand Firms as South Africa Wins Rating Reprieve From Moody’s

The nation is already rated below investment grade at S&P Global Ratings and Fitch Ratings, both of which shifted its status to junk in 2017.

JSE suspends IT company, threatens others

In mid-October, a South African unit of the company was placed in business rescue.

New law pushes South African banks to cut back on lending

But it will come at a cost.

Governors engaged in tussle for control of Sh120b pension

The new law repealed the Local Authorities Provident Fund (Lapfund) and the Laptrust (Umbrella) Retirement Fund Trust Deed and Rules registered under the Retirements Benefits Act, to pave way for the new scheme, CGRS.

Treasury nets Sh25bn from State agencies

CBK makes money from currency conversions, charging interest on loans to banks in terms of repurchase agreements and overdraft to the government.

Standard Bank to match over 90 African clients with China export opportunities

As the global market becomes increasingly complex, with trade protectionism threatening the free trade system, China is seeking to widen market access to the rest of the world to realise the potential of its economy and support the multilateral trade syst

Nigerian bank, Access Bank, enters Kenya’s banking sector after acquiring mid-tier lender, Transnational Bank

Access Bank with assets worth Sh1.17 trillion, has a presence in Gambia, Sierra Leone, Ghana, Congo, Zambia, China and the UK.

SA needs to mobilize, arrange human capital base to boost its global competitiveness

When nations elect great leaders, it will also assist their national competitiveness compared to other nations ranked with.

AfCFTA can move Ghana, Africa beyond aid – Barclays MD

Mrs. Osei-Poku explained that Barclays, a part of Absa, has deep insight and understanding of the African continent

Sudan agrees reforms with World Bank, IMF, AfDB – finance minister

Sudan’s new transitional government has been working to remove the country from the .S. sponsors of terrorism list, to potentially open the door for foreign investment.

African Development Bank Approves $165 Million for Angola

In approving the loan, Board members called for the monitoring of Angola’s high public debt levels, estimated at about 90% of GDP, and projected to ease to around 60% by the end of the program period.

President Kenyatta courts Arab investors to invest in Kenya

President Kenyatta urged Middle East investors not to be deterred by negative media stories that try to depict Africa in negative light while ignoring the growth and prosperity of the continent.

Africa is fertile ground for cybercrime

Mauritius and Kenya are the only countries with ‘high’ commitment levels.

Afreximbank adds to City woes by pulling its listing

Only this month Afreximbank announced plans to list global depositary receipts in London.

Kenyan parliamentary panel backs lifting cap on lending rates

“There is a sense that this will be good for lending growth and banks’ margins.”

Regulation,Tax & Compliance