Managers of Wealth Africa

Tough CMA terms for bond issuers

The minimum size of the bond issue shall be fixed at Sh400 million, with the minimum subscription set at Sh10,000 or such higher amount as the regulator may prescribe from time to time.

State-owned bank a step closer after Ramaphosa signs Postbank Amendment Act

In the context of South Africa, this includes reaching those segments of society who are historically excluded from the formal financial sector as well as those who underutilise financial products and services.

BoG introduces additional measures to tame inflation

Inflation continue to decline and currently at 35.2 per cent after peaking at 54.2 per cent in last year December.

Fidelity Bank extends employment contract of its GMD/CEO, Onyeali-Ikpe

The Board noted that it is confident that the Bank’s performance will continue its upward trajectory under Dr. Nneka Onyeali-Ikpe’s leadership

Kenya moves to regulate Bitcoin trade on grey listing risk

The platforms allow traders to transact directly with one another without the need for a centralised third party to facilitate the transactions.

New policy signals higher charges for public services

In the first six months of this fiscal year, the National Treasury received Sh224.6 billion in non-tax revenues

30% of Africa’s sovereign reserves should be invested locally – Akufo-Addo

He pointed out that virtually all the countries held their reserves in foreign banks, which attracted largely negative rates of interest.

Get ready for South Africa’s new state-owned bank

The bank previously noted that when the new Act comes into law, it will start resubmitting and finalising its section 16 application

Moody’s sounds warning on Kenyan banks' defaults

Despite solid economic growth, an array of challenges will weigh on borrowers' creditworthiness and create difficult operating conditions for banks through 2024,” said Moody’s in its analysis.

Banks open loan restructuring as higher rates raise defaults

We are supporting our customers by way of restructures to align monthly repayment amount with their current (lower) income levels

Two sectors holding South Africa back from getting off the grey list – and time is running out

On a practical level, the impact is being felt with the European Union adding South Africa to a list of high-risk countries in May.

CBK rate rise dampens NSE prospects

The NSE All Share Index (Nasi) also closed Tuesday’s trading down a point from Tuesday last week with the NSE20 -index retreating by four points over the one week.

Citi and Standard Group warn Kenya on SHIF funding costs

Citi and Standard Group, the advisors on the redemption of Kenya’s debut Eurobond

Nedbank sends a warning to Finance Minister Enoch Godongwana

In November, Godongwana signalled that he would announce new tax measures to raise an additional R15 billion in his Feb. 21 budget.

BoG embarks on anti-money laundering actions to prevent blacklisting from EU, UK

Since January 2024, the Bank of Ghana has been sensitising banks and other regulated entities on what is required from them to make the NRA a success.

How Kenya plans to net Sh1trn from diaspora

According to the Central Bank of Kenya (CBK) data, remittances from Kenyans living and working abroad have averaged $3.56 billion

Kenyan Banks Begin Sharing Customer Information with the Revenue Authority on Foreign Account Holders

This is being done as part of the tax authority's intensified crackdown on tax evaders and individuals benefitting from illicit wealth.

Banks start sharing customer data, balances with KRA

In January last year, the Treasury Cabinet Secretary signed the Tax Procedures (Common Reporting Standards) Regulations, 2023

PAC orders NIA Executive Secretary to refund GH¢98,000

The directive came at the public hearing of the Committee, at Parliament House in Accra, when Prof Attafuah made an appearance in Parliament House.

Safaricom parent faces Sh170bn bill in suit

The applicant is entitled to be paid five–7.5 percent of the total revenue of the PCM product from March 2001 to date of judgment by the second respondent, together with the...interest thereon,” reads the judgment.

Regulation,Tax & Compliance