Managers of Wealth Africa

28 banks now in the crosshairs over rand manipulation case

The case, first brought six years ago by the CompCom, argues there was an overarching conspiracy to manipulate the level of the rand.

Rand manipulation: Nedbank, HSBC and Bank of America fight back against Comp Commission's case

The commission is accusing the banks of colluding on forex deals

Citi, Commerzbank Named in Congo-China Corruption Scandal

The deal was meant to help rebuild critical infrastructure in the DRC, improving the lives of everyday citizens.

CBN deploys e-Form ‘A’ for invisible transactions

“Accordingly, the e-Form ‘A’ shall replace the hard copy of Form ‘A’ for invincible transactions (PTA/BTA, medicals, education, other remittances etc.}, with effect from November 30, 2021.

Zenith Bank, Polaris Bank, Others Publish 1,042 FX Defaulters in 3 Months

Sterling Bank named 46 bank customers to cancellation of their trip and failure to return the PTA availed to them despite reaching out to them with phone calls and messages and six of them for presenting fake visa or document to apply for PTA.

Will Uganda Finally Be Able to Tax Online Multinationals?

The analysis discloses that despite commitments by OECD members, they are responsible for facilitating 78 per cent of the tax losses with the worst culprit being UK.

Defiant Pityana to take Absa decision to fire him on review

The businessperson argues that the Prudential Authority acted “unlawfully” and prevented him from becoming the bank’s chairperson by engaging in an “informal process” with Absa in the identification of a new chairperson.

South Africa Regulator Denies Blocking Pityana Absa Chairman Bid

Pityana, who stepped down as chairman of miner AngloGold in December, said the regulator “adopted an informal process” when reviewing his record and rejected him without a right of reply.

United Arab Emirates a go-to offshore haven for Africa’s political and business elite, leaked records show

The UAE’s record on illicit finance raises concerns for its relationship with the world’s poorest continent, experts say.

Will the SARB hike rates tomorrow? These two experts believe they will

The nominal repo rate is expected to gradually rise towards its neutral level over the medium term.

South African rand firms ahead of cenbank policy meeting

The central bank starts its three-day monetary policy committee meeting later in the day, with the decision on interest rates due on Thursday.

Old Mutual adopts mandatory vaccination policy, effective from January 1 next year

The company said that over the past 18 months, it had lost 55 colleagues.

Largest ever Africa-focused fund ‘shows confidence in Guernsey’

Partner Andrew Boyce, who led the Carey Olsen team, said the deal showed confidence in Guernsey.

South Africa's rand firms, focus on central bank meeting

The dollar eased back from near an almost 16-month high versus major peers on Monday, as traders awaited fresh clues on the U.S. economy after bringing forward bets last week for a Federal Reserve interest rate hike on the back of red-hot inflation.

5.1 million retirement accounts’ documentation incomplete – PenCom

The commission said only 9,215,788 workers had RSAs as of the end of 2020.

CBN: Bridging Unbanked Space, Stimulating Digital Transactions

Working in concert with its technical partner, Britt Inc., a world acclaimed Fintech expert, the CBN seamlessly launched e-Naira to enlist Nigeria among the few Fintech- driven countries of the world.

MTN banks on its future in Nigeria

The government's approval of mobile money licences gives MTN access to the largest unbanked population in Africa

Tanzania Regulator Imposes 10-Year Tenure Limit on Bank CEOs

Elected officials prohibited from serving as bank directors

Fitch Affirms Investec Limited at 'BB-'; Outlook Negative

Fitch Ratings - London - 11 Nov 2021: Fitch Ratings has affirmed Investec Limited's (INL) and its main operating subsidiary Investec Bank Limited's (IBL) Long-Term Issuer Default Ratings (IDRs) at 'BB-'. The Outlooks are Negative.

World Bank blacklists Kenyan consultancy firm over fraud

“The (Somalia) project was designed to strengthen the staffing and institutional capacity of selected line ministries and central agencies to perform core government functions,”

Regulation,Tax & Compliance