Managers of Wealth Africa

INTERPOL blocks 720 bank accounts linked with online frauds in West Africa

INTERPOL added that more than 160 fraud victims suffered significant financial losses, with some forced to sell their homes or take out large loans as a result.

Three banks exit, five enter Kenya’s oil import deal with Gulf majors

The agreement, which involves the extension of the credit period for the importation of petroleum products from 30 days to 180 days

Good news for interest rates in South Africa

The vote was not unanimous, with four members of the committee voting for the hold and two voting for a cut of 25 basis points.

Basic income grant for South Africa still on the cards

This is a key policy promise that has continued across administrations and has now settled into the GNU as well.

Ethiopia launches new monetary policy framework

Move is part of effort to unlock much-needed funding from IMF

Things are looking up for the rand

The rand is now set to retain an improved position following the unwinding of the local risk premia, and it will now be influenced by global markets.

Standard Bank warning to South Africans earning over R25,000 per month

Without savings, many have had to resort to debt, eroding their ability to build wealth over the long term.

Taxpayers receive R10 billion payout from SARS

“We’re able to process over 90% of refunds for taxpayers not selected for verification within 72 hours through our fraud risk detection AI.

Three SARS demands you can’t ignore – or risk fines and jail time

If caught on the wrong end of SARS’ processes, Tax Consulting said that taxpayers should act immediately.

UAE signs $817m currency swap agreement with Ethiopia

Banking regulators of both countries ink initial deals to boost cross-border transactions and link their payment and messaging systems

Excitement as UAE lifts visa ban on Nigerians

Idris explained, “You are aware that Nigeria has been discussing with the United Arab Emirates on the issue of visas for Nigerian passport holders going to the United Arab Emirates.

Financial sector clean-up: BoG reiterates compliance with Fit and Proper Criteria

Poor Corporate Governance contributed significantly to excessive and imprudent risk-taking in the financial sector

World leaders must seek the negatives of AI and regulate its deployment – Dr Segbefia

Dr Segbefia called on the media fraternity to make the most of the technology in advancing the profession as well as national development.

Nigeria labour unions meet president over minimum pay

Nigerian labour unions' officials met President Bola Tinubu on Thursday to resolve an impasse over minimum wage.

Estate rules for millionaires in South Africa – including R20,000 fines for ‘delinquent behaviour’

New World Wealth estimates that by 2050, 50% of centi-millionaires, those with a net worth over $100 million (R1.8 billion), will either live in lifestyle estates or have second homes there.

Ethiopia launches monetary policy reform for price stability, economic growth

The bank said it would retain its past tools for managing liquidity during the transition period to the new monetary policy framework.

Remittances: BoG explains role of fintechs, MTOs

Instead, Money Transfer Organizations (MTOs) based abroad handle the receipt of remittances.

South African court clarifies compliance requirements for lawful tenders

The ruling cautions unsuccessful bidders against relying on court decisions that concern immaterial and trivial failures of non-compliance

EY Kenya reputation at risk after World Bank sanction

The sanctions dent EY Kenya’s reputation because potential clients or even partners may keep off for fear of association with a tainted firm.

Standard Chartered announces dividend payout amid strong 2023 performance

The Bank delivered strong results – returning to profitability and improved returns alongside balance sheet growth and positive momentum across key metrics.

Regulation,Tax & Compliance