Managers of Wealth Africa

Deutsche Bank Cuts Ties to Zimbabwean Unit of Standard Bank

Cut-off adds to long list of international banks pulling out Parent company provides U.S. dollar clearing for Stanbic Bank

CBN directs banks to publish names of FOREX defaulters

Haruna B. Mustafa Director Banking Supervision Department of the CBN, who signed the circular, noted: “this trend, if not curbed, portends risk to the integrity and stability of the forex market”.

National Treasury set to limit assessed tax losses: agricultural and mining sectors among those industries to bear the brunt

The current proposal is to limit the assessed loss to 80% of the “taxable income” derived in any one year of assessment.

Lindiwe Zulu withdraws green paper on controversial state pension plan

The Green Paper was gazetted without approval from Cabinet, and Treasury told Fin24 that it wasn’t official government policy.

Digital Currency Gains Traction as CBN Appoints Technical Partner

IMF urges caution on adoption of cryptocurrency as national currency Ndubuisi Francis and James Emejo in Abuja

South Africa’s controversial social security and retirement proposals – 4 changes you may have missed

PwC outlined some of the key changes planned for workers that have not gained as much attention as the income grant and social security fund.

Nigeria’s central bank issues draft guidelines on e-naira CBDC project

The CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC.

South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’ – Emerging Markets Bitcoin News

Predictably, Kganyago, just like many of his peers, praises blockchain technology saying it “can be useful in many other respects.” The governor also reiterates that SARB, just like central banks around the world, is experimenting with blockch

Gov't unveils Revenue Assurance and Compliance Initiative to bolster tax collection

The effectiveness of RACE, the Vice-President explained, depended on the ability to leverage on technology and to integrate the rich databases from the Ghana-Card, the Tax Identification number, Digital Address System, Passport Office, Driver and Vehicle

Insurance Regulator Urges Operators to Strategise for Effective Management of N14tn Annuity Premium

He said even before now, the above statement was misconception of what insurance does pointing out that most of the assets used today in Abuja was insurance fund.

Kenya’s KCB bank acquires Rwandese bank

KCB has subsidiaries in Tanzania, South Sudan, Uganda, Rwanda, Burundi as well as a representative office in Ethiopia.

Banks warn customers against violation of CBN forex directives

In line with CBN directives, only Nigerians aged 18 and up with valid Bank Verification Number would be able to purchase foreign exchange directly.

CBN threatens prosecution of forex policy defaulters

The banks added that customers could only apply for PTA and BTA once every quarter, and were liable to $4,000 and $5,000 per quarter per applicant respectively

Employers cannot “buy their way out” of retrenchment procedures

The one purpose of the LRA is to give effect to employees’ constitutional right to fair labour practices.

High Court dismisses application to set aside B-BBEE Commission’s findings: lessons for stakeholders

CRRC was established for CSR to fulfil various contractual obligations to design, manufacture, test and supply locomotives to Transnet.

Afarak Group, Absa Bank Settle Dispute

Afarak said at the time that Afarak Mogale had entered into business rescue process during the summer and hadn't been allowed to pay its debts during these proceedings.

Treasury to overhaul pension fund system

But it says it doesn’t support the DA’s private member’s bill proposing pension funds be leveraged as surety for a home loan.

Mozambique Receives Today US$305.9 Million from IMF ‘Capital Increase’

Developing countries and emerging markets will receive $275 billion of the total, IMF Managing Director Kristalina Goergieva said on 2 August at the Fund’s board approval of the issuance.

Dodgy deals by executives put a stamp of uncertainty on Postbank’s transition

The executives are implicated in dodgy Postbank contracts with a value of about R320-million, spanning the next three years.

East Africa’s Pesapal Can Operate In Kenya, Tanzania After Getting Approvals

Given the growth of mobile commerce transactions in this region, this license reinforces Pesapal’s objective to offer affordable, innovative and easy-to-use solutions for small businesses and consumers alike.

Regulation,Tax & Compliance