Managers of Wealth Africa

MTN Nigeria and Airtel Africa launch payment service banks

The Central Bank of Nigeria has granted approval for telcos to operate financial services in a bid to make a dent in the country’s huge unbanked population.

Kenya: Mobile loan rates now under CBK control

Digital lenders will now set interest rates for their loans within parameters approved by the CBK in an effort to protect borrowers against predatory lending that has thrown many into debt traps.

Implementation of AfCFTA will boost the country’s balance of payment

The President said the Association stood ready to work in partnership with government through the Ministry of Trade and Industry and other key stakeholders to identify and support industries with highly competitive advantage to enable Ghana to optimize th

TRIPS Waiver

As consensus on the proposal seems unlikely, in this client alert we consider the existing law, which can require rights holders to share their technology in certain circumstances.

Five banks’ interest income drops to N376bn, experts blame CBN cash reserve policy

The revenue of commercial banks consists of net interest income and non-interest income.

Government Reiterates Commitment to Renewables

Under the theme, “Renewable Energy for Self-Consumption in Mozambique”, the virtual conference focused on the potential of the energy market for self-consumption in Mozambique, with emphasis on the commercial and industrial sector and the char

Switzerland Increases Financial Aid to Mozambique

The global goal of the Swiss Cooperation Programme for Mozambique is poverty reduction, where economic development and job creation would remain the cornerstone.

Shaking up South Africa’s anti-money laundering and counter-terrorist financing measures

The FATF has an important role to play in setting international standards and coordinating global efforts in the fight against organised crime, corruption, and terrorism

Competition Commission does not have evidence of collusion on forex trading, says banks

The Competition Commission has alleged, in a case initiated in 2015

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.

Regulation,Tax & Compliance