Managers of Wealth Africa

It’s official: Absa won’t face punishment for rand price-fixing

This follows earlier reports that Absa would be granted immunity as the first bank to come forward on the price-fixing scheme and for further co-operation with regulators.

Crush white masculinity in colluding banks

The settlement is estimated at 10% of Citibank’s annual turnover in the country.

South Africa grants Barclays Africa immunity in FX rigging probe

The local lenders have around a 90 percent market share of the South African banking market.

Revenue Mobilisation Taskforce To Enforce Tax Compliance

The amount collected is GH¢44.73 million more than the GH¢138.82 million collected in 2015.

Nigeria to boost FX sales to retail users to help narrow black market rates

The bank has been trying to clear the backlog via forward contracts sold to manufacturing, agriculture and airline companies

South African banks ordered to respond to rand price-fixing allegations

The national treasury also noted that the matter has reached a stage where the banks have to answer for themselves.

Zuma's hand strengthened in battle with banks and white monopoly capital

These acts of corruption have crudely exposed the ethical crisis in the South African banking sector.

South Africa: Why Finance Minister Gordhan Should Raise VAT By 2%

It is also widely known that South Africa's VAT rate is low when compared to other African countries, which is why we believe there is scope to increase.

MoF signs two agreements on avoidance of double taxation

The double taxation agreements provide exemption from taxes for national air carriers and government investments om the origin-based taxes.

Citigroup, Barclays said to assist on rand probe to avoid fine

Their disclosures to the Competition Commission could save them from being penalised if the information they provided is proven correct

Reps caution on management of contributory pension fund

There is therefore an urgent need for a regulatory framework to guide practitioners in the industry.

The government will act against bank collusion, Jacob Zuma says

The President was commenting on the price-fixing scandal involving three of SA’s biggest banks — Standard Bank‚ Absa and Investec

Standard Bank may have to pay R51bn fine over forex

But the implicated banks would have to pay much less if the fine were calculated on the turnover of their currency units, said Intellidex analyst Stuart Theobald

Bank collusion case refferred to competition tribunal

The banks involved include Absa, Standard Bank, Investec, HSBC and Momura International plc.

Standard Bank‚ Absa in trouble over price fixing allegations

They did this allegedly by making fictitious sales to drive up demand and change prices‚ or agreeing not to trade for a period of time.

Banks may be fined for ‘rigging rand’

It referred the case to an antitrust tribunal, concluding an investigation that began in 2015.

CBK urges banks to address digital banking challenges

Commercial Bank of Africa and the KCB Group have both partnered with telecom operator Safaricom to offer banking services.

Kenyan banks face moment of truth as reality dawns after rate cap

The new guidelines give the CBK a say on the amount of capital held by banks with regional operations in a move that may see large lenders seek additional funding.

CIS to introduce new certification policy for stockbrokers

Commenting on the new certification policy which is expected to take off soon

Sanlam Kenya withdraws profit warning

Kibati said the profit withdrawal notice had also been necessitated by a reduction in the level of impairment provisions

Regulation,Tax & Compliance