Managers of Wealth Africa

Mozambique Scandal Spells Further Trouble for UBS

Last week, the UK Supreme Court allowed the trial to proceed, in which the African country is seeking around $1.5 billion in damages.

Court extends orders freezing accounts of two air charter service firms

Mr Obure, who is also charged with murdering businessman Kelvin Omwenga, is the representative of the two companies.

Old Mutual’s 4-year legal battle against its former CEO finally comes to an end

Moyo and his partners thus shared R84 million, while omitting to pay preference share dividends, valued at R65.4 million at the time, due to Old Mutual

FBN Holdings AGM : Shareholder seeks to join suit, asks court to set aside Interim Order

Justice Akintayo Aluko that the interim order was fraudulently obtained by suppression of facts which if disclosed to the court, the court would have refused granting the application.

State to legalise phone, email tapping in dirty cash fight

The new clause touches on five laws that are being amended through the Bill.

Court restrains FBN Holdings from holding AGM, issues contempt notice

The court also warned FBN Holdings Plc of the consequences of disobedience to the court order.

FNB warns of serious financial crime – how not to become a victim

A money mule is an individual who is recruited by criminals to allow for the movement of unlawfully-acquired funds through their personal bank account.

IMF vets Kenya’s new money laundering Bill

Anti-money laundering is a key pillar in IMF-Kenya program

SARS knows everything about your bank account

SARS identified deposits received by the taxpayer into his Investec and Nedbank bank accounts, as well as payments received from FX Africa.

Ecobank Nigeria plans to appeal the court judgment of N72 billion in Honeywell’s case

According to the bank, the instant suit was an action filed in 2018

South Africa and Germany seek to develop green hydrogen links

A joint declaration of intent concerning green hydrogen was signed recently by Kgosientsho Ramokgopa, South Africa’s minister of electricity, and Robert Habeck, Germany’s minister of economic affairs and climate action.

Court deals State another blow in Sh210 billion tax fight

Treasury Cabinet Secretary Njuguna Ndung’u had submitted that suspending the new tax law would lead to a shutdown of government operations.

StanChart escalates 30-year fight with Galot

The loan was converted to local currency in 1986.

Supreme Court's Daniel Arap Moi land ruling sends banks, buyers into a panic

The country’s apex court in April said not even the passage of over 30 years could stop grabbed public land that had undergone multiple successions in private hands reverting back to the public.

Further South African electricity initiatives must follow Mozambique deal

Business Live reported that an unnamed mining company is behind the deal, acting as a private off-taker in the arrangements.

90 percent of Kenyans reject Finance Bill 2023

The survey was undertaken between May 19 and June 6, with 20 percent of the respondents being Nairobians.

Businesses push back against South Africa’s strict new BEE laws – with another legal challenge on the way

Under the new Act, the employment minister is empowered to set sector-specific numerical targets for the racial and gender makeup of designated businesses, which must be achieved over five years.

KRA boss escapes jail in row over remmitances to employees union

The Court of Appeal in 2018 directed KRA to implement the system and start remitting deductions after rejecting KRA’s defence

Ondo court remands four for examination malpractices

The defendants include Timilehin Akinwale, Olayinka Mustapha, Peter Okereke, and Feranmi Adesuyi.

Firms in court for illegal N3bn investments – SEC

Justice Bogoro was quoted as saying, ‘The Court will grant the request of the Prosecution and issue a criminal summon to be served to the defendant for arraignment.

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