10/22/2021
How a Zimbabwe Tycoon Made a Fortune from a Trafigura Partnership and Spiralling National Debt
Under Mnangagwa’s reign, the businessman came to dominate Zimbabwe’s fuel, platinum, and gold sectors.
Regulation,Tax & Compliance
10/22/2021
FATF removes Mauritius from the list of jurisdictions under increased monitoring
The Mauritius International Financial Centre remains a competitive and attractive jurisdiction and a domicile of choice for structuring investments in Africa and Asia.
10/22/2021
Mozambique urges Credit Suisse to fully cancel scam-linked debt
The Swiss lender helped to arrange nearly $1bln in bonds plus a syndicated loan between 2013 to 2016
10/22/2021
South Africa: Deductible home office expenses for 2021
The Income Tax Act, 58 of 1962 (Income Tax Act), sets out rigid requirements that must be met before employees can claim a tax deduction for home office expenses, and there will be no relaxation of these tax rules because of COVID-19.
10/21/2021
Investec implicated in probes into the world’s largest tax fraud (Part 1)
Cum-ex is in the jargon of investment banking, a complex type of trading "strategy".
10/20/2021
The SARB’S policy proposals in respect of Open Banking
Open APIs do not involve the sharing of login credentials and are widely considered a more secure way of giving third-party providers access to customers’ financial information to enable the provision of enhanced services than screen scraping.
10/20/2021
Mozambique loans: FINMA concludes proceedings against Credit Suisse
Overall FINMA concludes that the Group’s risk management in connection with the Mozambique loans was seriously deficient.
10/20/2021
Credit Suisse fined US$200,664,504
Credit Suisse has also agreed with the FCA to forgive US$200 million of debt owed by the Republic of Mozambique as a result of these tainted loans.
10/19/2021
Bank Zero: SA’s original digital and zero-fee bank is finally open for business and has revealed its new pricing
The Bank Zero App caters for most South African businesses with turnovers from small to in the billions.
10/18/2021
Monetary Policy in Challenging Times
Monetary policy is very significant because it determines the growth of liquidity or money supply in the economy and its relation to the growth of production.
10/18/2021
Govt must get its act together to be able to drive SA's economic recovery, says Godongwana
Godongwana said rather than recount the problems South Africa faces, it was important to put "recovery and reconstruction" front of mind on the agenda.
10/15/2021
PwC: Tax Tribunal Rules against fair hearing
Analysing the provision in Tax Alert published on its website, PwC stated that the 50 per cent requirement to be paid of a yet to be determined tax liability inhibits the right to fair hearing and justice in addition to conflicting with an enabling law.
10/15/2021
Absa, Nedbank set the standard in South Africa's low-rate environment
NII is a key driver of revenue, accounting for between 45% and 60% of lenders' total income.
10/14/2021
CBN orders banks to apply I&E rates to PAPSS Transactions
The CBN disclosed this in a circular introducing the Guidelines on Operations of PAPSS in Nigeria, signed by the Director, Trade and Exchange Department, CBN, Dr Ozoemena Nnnaji.
10/14/2021
Cardano may need Africa more than Africa needs Cardano as the DeFi battle heats up
For Cardano, the competition in decentralised finance (DeFi) is heating up with more competitors joining the fray.
10/13/2021
With LIBOR soon ending – What options are available to South Africans when selecting an alternative reference rate
The wide spread but informal endorsement of different rates has, allowed parties to start thinking more broadly about the rates that they wish to apply in respect of their own products.
10/13/2021
FATF warns SA government to improve monitoring and prosecuting of financial crimes to avoid the
‘grey list’‘Institutions which do not do business in the financial sector are difficult to identify in terms of illegal cash flows and crime’: National Treasury deputy director-general Ismail Momoniat.
10/08/2021
The Pandora Papers and Mohammed Bello-Koko
The Pandora Papers are out. Startling revelations are seeping out. Some saints have been demystified.
10/07/2021
Generational property in The Bahamas: how to acquire documentary title
Under the laws of The Bahamas, the applicant must be in factual possession of the land for a period of 12 years or more to successfully bring a claim for adverse possession.
10/07/2021
How will the new provident fund rules affect the money saved before its implementation date?
This amount will earn investment returns and is kept as a separate record from your new money