Managers of Wealth Africa

Key takeaways from the CBN Governor's speech at the CIBN's Annual Bankers' Dinner

The Governor’s speech revealed the direction and approach the apex bank would tow in discharging its functions under his leadership.

Stage 6 load shedding gut punches South Africa

This was exacerbated by a risk-off environment in markets, which saw foreigners being net sellers of South African bonds and negative sentiment towards the country’s structural and policy issues.

CEOs’ woes as regulations cause headache

The number of CEOs worried about the risk posed by growing regulations on revenues of companies has more than doubled over 12 months

High Court grants Ghana Revenue Authority power to recover GH¢179.4m

The court, comprising Justices Mrs Janapare A. Bartels-Kodwo, Alex Poku-Acheampong, and Jerome Noble-Nkrumah, delivered the judgment in response to an appeal filed by Maersk Drillship IV Singapore.

Bank of Ghana maintains policy rate at 30%

The Governor said Central Banks were expected to maintain policy rates at high levels for much longer periods to contain the still-elevated inflation levels relative to targets.

Guernsey's comprehensive life insurance offerings for South African institutions 

These are international insurance wrappers assisting policy holders with, amongst other things, inheritance tax and succession planning.

Rand manipulation: Treasury sets the record straight

The alleged misconduct by the banks involved a handful of traders, who, between 2007 and 2013, assisted each other on risk positions instead of following normal trading patterns on the market.

Relief for South Africa as Reserve Bank holds interest rates

While a hold was widely expected, shock inflation numbers on Wednesday did let some doubt creep in among analysts, particularly with narrow votes to hold emanating from the previous two meetings.

Shilling free fall slows after CBK reins in banks

The Kenya shilling could finally be finding a new footing after it slowed down its monthly free fall to one percent so far in November from the 4.3 percent in March

Stepping up money laundering war

ESAAMLG recently conducted its second round of the Kenya mutual evaluation and released its report in September 2022.

State pensioners’ register marked for clean-up

The Pensions Department has engaged the Civil Registration Department culminating in the formal request for all registered deaths in the last 20 years

KenGen slaps Kenya Power with Sh364m fine

Kenya Power and KenGen are both majority-owned by the government, with the companies seen as strategic national assets in the energy sector.

Oando, Afreximbank sign $800m deal

The continental lender, Afreximbank, said that the move perfectly aligns with its unwavering commitment to supporting indigenous African institutions.

UK bank coughs up R43 million for manipulating the rand

The manipulation impacted the exchange rate of the South African Rand, which in turn affected various parts of the South African economy

Duty-free goods cost KRA Sh30bn foregone tax

In 2021, the government did not collect IDL valued at Sh1.6 billion.

Audit backs rule on quality checks per product small traders import

The Kebs rules require that each imported product be subjected to inspection although consolidated cargo poses difficulty in having each product subjected to verification owing to frequent mis-declaration.

Interest on November bond rises to record 17.9pc as bids hit Sh89 billion

This is as investors put in bids of Sh88.8 billion against the target of Sh50 billion in the auction which closed on Wednesday.

Higher tax for traders without digital ETRs

The Kenya Revenue Authority this week said that non-compliant businesses will be blocked from subtracting expenses from revenue that are subjected to taxation.

Investec, Verto sign API deal for cross-border transactions

The company recently acquired a licence to operate in South Africa from the Financial Sector Conduct Authority.

Eskom pushes ahead with major grid access changes

During a presentation to stakeholders, Eskom said that it made progress in processing the backlog of grid connection applications in terms of the IGCAR.

Regulation,Tax & Compliance