Managers of Wealth - Africa http://africa.managersofwealth.com/ Mon, 16 May 2022 05:22:46 BST part of MediaG8way Group http://africa.managersofwealth.com/ http://africa.managersofwealth.com/assets/images/logo.png Managers of Wealth - Africa KohanaPHP When is enough enough? News Team Sunday, May 08, 2022 1:00 am http://africa.managersofwealth.com/article/33933/when-is-enough-enough Society encourages us to endlessly strive for ‘more’ – whether that’s money, recognition or to be seen as successful. Wealth and Asset Management Wealthy South Africans are leaving in droves News Aggregation Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33932/wealthy-south-africans-are-leaving-in-droves Data shows approximately 4 500 HNWIs have left South Africa over the past decade. Wealth and Asset Management Namibia Third Wealthiest in Africa Per Capita News Aggregation Team Friday, April 29, 2022 1:00 am http://africa.managersofwealth.com/article/33886/namibia-third-wealthiest-in-africa-per-capita "The delta in new wealth creation has been strongest in countries such as Mauritius and Rwanda." Wealth and Asset Management EMEA Perspectives: From secular stagnation to stagflation? News Team Tuesday, April 26, 2022 1:00 am http://africa.managersofwealth.com/article/33865/emea-perspectives-from-secular-stagnation-to-stagflation Our sector preferences for energy and materials serve as a hedge to stagflationary forces Wealth and Asset Management Bank accounts for South Africa’s wealthy – what they offer News Aggregation Team Monday, April 18, 2022 1:00 am http://africa.managersofwealth.com/article/33795/bank-accounts-for-south-africaamprsquos-wealthy-ampndash-what-they-offer The qualifying income for a prospective cardholder is no less than R2.5 million annually, which is equivalent to a monthly salary of just over R208,000. Wealth and Asset Management FirstRand aims to redefine private banking by upskilling personnel News Aggregation Team Monday, April 11, 2022 1:00 am http://africa.managersofwealth.com/article/33756/firstrand-aims-to-redefine-private-banking-by-upskilling-personnel Institutions want their private bankers to incorporate the roles of bespoke financial advisers Wealth and Asset Management Nedbank takes private wealth to north and coast News Aggregation Team Friday, April 08, 2022 1:00 am http://africa.managersofwealth.com/article/33746/nedbank-takes-private-wealth-to-north-and-coast “We want someone in Walvis Bay, Swakopmund or Oshakati to have access to the same service and advice as our Windhoek-based clients." Wealth and Asset Management Standard Chartered Launches Women Winning with Wealth Proposition News Aggregation Team Monday, April 04, 2022 1:00 am http://africa.managersofwealth.com/article/33690/standard-chartered-launches-women-winning-with-wealth-proposition Aderugbo, noted that at this opportune moment in time, when people are exploring new opportunities, women are at the forefront of innovation and technology that continues to push frontiers once considered impossible. Wealth and Asset Management A new hope for wealth and investment managers? News Team Monday, March 28, 2022 1:00 am http://africa.managersofwealth.com/article/33633/a-new-hope-for-wealth-and-investment-managers The greatest challenge to the industry to continue the current level of growth is most likely to be how to achieve scalable and cost-managed growth. Wealth and Asset Management StanChart wealth unit’s income rises to Sh3.1bn News Aggregation Team Wednesday, March 16, 2022 12:00 am http://africa.managersofwealth.com/article/33543/stanchart-wealth-unitamprsquos-income-rises-to-sh31bn The unit ended 2021 with Sh131 billion in assets under management, representing a 2.1 percent growth from Sh129 billion in 2020. Wealth and Asset Management Former JSE, Alexander Forbes chair Nyembezi joins Standard Bank at the helm News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33954/former-jse-alexander-forbes-chair-nyembezi-joins-standard-bank-at-the-helm The Standard Bank Group would also like to take this opportunity to recognise and salute the great achievements of Thulani Gcabashe as our Chairman Executive Moves Standard Bank appoints new chair-designate News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33944/standard-bank-appoints-new-chair-designate The group said it has obtained the necessary Prudential Authority clearance for the appointment. Executive Moves CFA Institute Names Dana Day as Managing Director, EMEA News Aggregation Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33929/cfa-institute-names-dana-day-as-managing-director-emea Additionally, Day will promote CFA Institute offerings, products, and services into EMEA markets. Executive Moves Safaricom hires Citi Bank MD in acquisitions and mergers chase News Aggregation Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33923/safaricom-hires-citi-bank-md-in-acquisitions-and-mergers-chase A former Barclays executive, Mr Mutiga has been with Citibank for 15 years, serving in various senior local and regional management roles. Executive Moves JTC appoints new managing director in South Africa News Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33917/jtc-appoints-new-managing-director-in-south-africa She brings over 25 years’ experience in financial services to the role Executive Moves RMB announces new CEO News Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33921/rmb-announces-new-ceo She began her career with RMB in 2001 Executive Moves Gijima Appoints New Group Managing Executive News Aggregation Team Wednesday, May 04, 2022 1:00 am http://africa.managersofwealth.com/article/33904/gijima-appoints-new-group-managing-executive Ratshefola is a former IBM Southern Africa leader. He spent his first decade at the company as a systems engineer, technical sales, and later sales leader and sector leader, and then he left to co–found Cornastone Technology Holdings Limited in 2000 Executive Moves Henry Chinedu Onwuzurigbo appointed new Managing Director of Zenith Bank Ghana Limited News Aggregation Team Wednesday, May 04, 2022 1:00 am http://africa.managersofwealth.com/article/33912/henry-chinedu-onwuzurigbo-appointed-new-managing-director-of-zenith-bank-ghana-limited He was also the Pioneer Head of Internal Audit in Zenith Bank (UK) Ltd. Executive Moves Ashurst boosts EMEA disputes offering with hire of new partner in Munich News Team Tuesday, May 03, 2022 1:00 am http://africa.managersofwealth.com/article/33903/ashurst-boosts-emea-disputes-offering-with-hire-of-new-partner-in-munich Global law firm Ashurst announces the appointment of Martin Eimer as a partner in the disputes practice in Munich. Executive Moves J. P. Morgan Private Bank Expands EMEA team News Team Thursday, April 28, 2022 1:00 am http://africa.managersofwealth.com/article/33884/j-p-morgan-private-bank-expands-emea-team Mr. Cassinello Herrera will lead the Private Bank's Strategic Equity business across the UK, Europe, Middle East and North Africa Executive Moves Norton Rose Fulbright South Africa welcomes three new associates News Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33931/norton-rose-fulbright-south-africa-welcomes-three-new-associates Rebone Motau joined us in April from Gildenhuys Malatji Inc. Legal Generali Faces New Test As Bitter Battle For Control Nears Climax News Aggregation Team Wednesday, April 27, 2022 1:00 am http://africa.managersofwealth.com/article/33866/generali-faces-new-test-as-bitter-battle-for-control-nears-climax Sanctions can be used to apply pressure on a target country to enforce compliance with certain objectives, and to enforce measures where diplomatic efforts have failed. Legal Conflict of interest: do employees need to disclose their side businesses to their employer? News Team Wednesday, April 20, 2022 1:00 am http://africa.managersofwealth.com/article/33812/conflict-of-interest-do-employees-need-to-disclose-their-side-businesses-to-their-employer The employer’s business in this matter was the production and sale of a range of meat products. Legal South Africa anti-corruption charter ‘first step’ towards meaningful change News Team Thursday, April 14, 2022 1:00 am http://africa.managersofwealth.com/article/33780/south-africa-anti-corruption-charter-amplsquofirst-stepamprsquo-towards-meaningful-change For these groups, the implication is that the signing would be a social contract and symbolic stand against corruption, as opposed to being of direct legal effect. Legal Prescription begins to run once there is a reasonable suspicion of negligence by the auditors News Team Wednesday, April 13, 2022 1:00 am http://africa.managersofwealth.com/article/33767/prescription-begins-to-run-once-there-is-a-reasonable-suspicion-of-negligence-by-the-auditors Between 2007 to 2013, WK Construction suffered a loss of approximately ZAR80-million as a result of one of its erstwhile directors effecting fraudulent transactions. Legal The case for deferred prosecution agreements in South Africa News Team Friday, April 08, 2022 1:00 am http://africa.managersofwealth.com/article/33738/the-case-for-deferred-prosecution-agreements-in-south-africa The resolution of corruption also serves a greater societal good and can ensure that wrongdoers do not remain in positions where they can cause further harm. Legal Racist banks stealing from the poor, claims financial investigator News Aggregation Team Wednesday, April 06, 2022 1:00 am http://africa.managersofwealth.com/article/33722/racist-banks-stealing-from-the-poor-claims-financial-investigator Van Zyl said after Saambou Bank collapsed, FNB bought their low-cost housing book, and that was when the discrimination started. Legal Court adjourns N42m case between bank, firm’s directors May 17 News Aggregation Team Tuesday, March 29, 2022 1:00 am http://africa.managersofwealth.com/article/33646/court-adjourns-n42m-case-between-bank-firmamprsquos-directors-may-17 Though trial began last month and expected to proceed yesterday, it was however adjourned till May 17 and 18, 2022 following the request by the learned silk, Ogunwole, which was acceded to by the judge. Legal Legal expert calls on the state to regulate country’s major banks News Aggregation Team Thursday, March 17, 2022 12:00 am http://africa.managersofwealth.com/article/33562/legal-expert-calls-on-the-state-to-regulate-countryamprsquos-major-banks Indications are that the struggle against the banks’ behaviour is gaining much-needed traction from professionals of all racial groups. Legal Bowmans Dominates the Dealmaking Landscape in East Africa News Team Tuesday, March 15, 2022 12:00 am http://africa.managersofwealth.com/article/33535/bowmans-dominates-the-dealmaking-landscape-in-east-africa Bowmans also advised on the deals named East Africa Deal of the Year (the sale of Dudutech Integrated Pest Management to Bioline Group) and East Africa Private Equity Deal of the Year (Adenia Partners’ majority acquisition of Red Lands Roses). Legal Futuregrowth Asset Management Adopts Charles River for Managing Fixed Income Strategies News Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33969/futuregrowth-asset-management-adopts-charles-river-for-managing-fixed-income-strategies Managing investments in an ethical and sustainable way for stakeholders requires a technology platform aligned with our mission. FinTech One of South Africa’s biggest banks is making a permanent shift in how it does business News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33958/one-of-south-africaamprsquos-biggest-banks-is-making-a-permanent-shift-in-how-it-does-business “As a result, we believe that clients who use our branches should be able to perform day-to-day banking through our digital zones, with the option to consult with our experts for human assistance as needed,” FinTech African banks engage in major digitisation drive News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33960/african-banks-engage-in-major-digitisation-drive Some banks were already trying to transition from the traditional model before the pandemic, due to the emergence of new competition on the part of African fintech and pure digital players. FinTech Eight million Kenyans send, receive cash on third party phones News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33963/eight-million-kenyans-send-receive-cash-on-third-party-phones Increased use of mobile money in Kenya has grown the risk of infiltration by criminal elements FinTech Emerging economies are pioneers of CBDCs News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33964/emerging-economies-are-pioneers-of-cbdcs These markets recognise the unique advantages of CBDCs. FinTech Capitec Bank Selects nCino News Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33948/capitec-bank-selects-ncino South African bank’s adoption of nCino expands the company’s reach to five continents FinTech Technology start-ups on the rise News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33937/technology-start-ups-on-the-rise Years down the road, a technology ecosystem has emerged organically in Dar es Salaam. FinTech Is Cryptocurrency Interest Rising Steadily In Africa? News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33938/is-cryptocurrency-interest-rising-steadily-in-africa After the Central African Republic legalised cryptocurrency, more African countries seem to be warming up to the idea FinTech Cauris Selects SS&C as Strategic Loan Servicing Partner News Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33914/cauris-selects-ssampampc-as-strategic-loan-servicing-partner Cauris leverages DeFi and blockchain to provide access to institutional-grade investment opportunities in companies expanding access to financial inclusion. FinTech Central African Republic ‘forgot’ to inform its central bank of its BTC plans News Aggregation Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33922/central-african-republic-amplsquoforgotamprsquo-to-inform-its-central-bank-of-its-btc-plans But as Bloomberg revealed, there’s one more hurdle—the country’s central bank says it was caught unaware by the government’s BTC plan. FinTech Access Bank moves to dominate agency banking News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33974/access-bank-moves-to-dominate-agency-banking Access Bank agency banking ‘Access Closa ’ recently hit a milestone of having 100,000 agents currently spread across Nigeria as the bank further plans to increase its footprint by having a minimum of 50 agents in each of the 774 LGAs across th Retail Banking Kenyan banks macroeconomic profile weak News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33965/kenyan-banks-macroeconomic-profile-weak Cites high credit risk, low wealth levels, weak institutions and high financing needs. Retail Banking Listed Ugandan banks have been instructed to withhold $4.5 billion worth of dividend payouts News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33955/listed-ugandan-banks-have-been-instructed-to-withhold-45-billion-worth-of-dividend-payouts Last month, many bank shareholders were disappointed when the apex bank issued a circular informing the banks not to pay dividends for the financial year ended December 31st, 2021. Retail Banking Entersekt partners with Capitec Bank News Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33947/entersekt-partners-with-capitec-bank Entersekt integrates NuData Security’s behavioral analytics intelligence into its EMV 3-D Secure solution to provide Capitec customers with real-time risk-based authentication for online purchases Retail Banking FNB Records Nearly 2 Million Virtual Card Users Just 1 Year After Launch News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33936/fnb-records-nearly-2-million-virtual-card-users-just-1-year-after-launch FNB customers have more reasons to buy items using their Virtual Cards, as the bank is now providing free insurance cover on online purchases made with FNB and RMB Private Bank Virtual Cards. Retail Banking Dutch development bank FMO wants to scale-up loan guarantees in fragile states News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33940/dutch-development-bank-fmo-wants-to-scale-up-loan-guarantees-in-fragile-states The FMO currently invests an average of about €2bn ($2.1bn) a year across all its markets. Retail Banking UBA sees exponential growth in customer deposits News Aggregation Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33930/uba-sees-exponential-growth-in-customer-deposits UBA closed the year with a significant growth of 36 per cent of its balance sheet from GH¢3.95 million in 2020 to GH¢5.37 million in 2021. Retail Banking Fidelity Bank Announces 29% Increase in Gross Earnings in Q1 2022 News Aggregation Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33915/fidelity-bank-announces-29-increase-in-gross-earnings-in-q1-2022 The bank realised N393 million for items that will be classified subsequently to profit or loss, against the N18.700 billion decline posted in the same quarter of 2021. Retail Banking NEXIM Bank Secures N10.2bn, $3.25m in Loan Recovery Drive News Aggregation Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33918/nexim-bank-secures-n102bn-325m-in-loan-recovery-drive Enhanced operating model through restructuring of regional offices for the bank Retail Banking Wema Bank’s ALAT Hits 1m accounts in One Day News Aggregation Team Thursday, May 05, 2022 1:00 am http://africa.managersofwealth.com/article/33919/wema-bankamprsquos-alat-hits-1m-accounts-in-one-day Apart from the attempt at the world record, the #BeAudacious campaign was also a reward scheme to appreciate customers Retail Banking Standard Chartered’s operating profit in Middle East, Africa hits near 10-year high News Aggregation Team Friday, April 29, 2022 1:00 am http://africa.managersofwealth.com/article/33887/standard-charteredamprsquos-operating-profit-in-middle-east-africa-hits-near-10-year-high First-quarter 2022 profits crossed $300mln for the first time in nearly a decade Investment Banking Barclays sells off half of Absa stake for £526m News Aggregation Team Thursday, April 21, 2022 1:00 am http://africa.managersofwealth.com/article/33825/barclays-sells-off-half-of-absa-stake-for-amppound526m The placing was made through Barclays Principal Investments subsidiary, with Absa, Citigroup, Banco Santander and Société Générale arranging the sale. Investment Banking Standard Bank in Talks with ICBC About Exiting Joint Venture News Aggregation Team Tuesday, March 15, 2022 12:00 am http://africa.managersofwealth.com/article/33541/standard-bank-in-talks-with-icbc-about-exiting-joint-venture The combination sought to serve the growing demands of Chinese clients for global commodities, fixed income and other products, though also has some exposure to Russia -- currently a financial pariah after the invasion of Ukraine. Investment Banking MENA investment banking fees totalled $1.4bln in 2021 News Aggregation Team Friday, January 21, 2022 12:00 am http://africa.managersofwealth.com/article/33101/mena-investment-banking-fees-totalled-14bln-in-2021 In 2021, equity capital markets recorded their strongest year in 13 years, producing $334.4 million in fees Investment Banking Standard Chartered Asked to Reveal Zimbabwe CEO’s Fate News Aggregation Team Friday, January 14, 2022 12:00 am http://africa.managersofwealth.com/article/33042/standard-chartered-asked-to-reveal-zimbabwe-ceoamprsquos-fate Mutasa said union members had said that Watungwa hasn’t been seen at work recently. Investment Banking Morocco’s BCP Bank open to acquisitions in Africa, CEO says News Aggregation Team Thursday, December 16, 2021 12:00 am http://africa.managersofwealth.com/article/32817/moroccoamprsquos-bcp-bank-open-to-acquisitions-in-africa-ceo-says Like many other Moroccan banks and companies, BCP has stepped up investments in Africa, boosting the kingdom's economic clout. Investment Banking UBS retreating from South African investment-banking ops – sources News Aggregation Team Friday, December 10, 2021 12:00 am http://africa.managersofwealth.com/article/32771/ubs-retreating-from-south-african-investment-banking-ops-ampndash-sources The bank is said to be covering its key corporate clients in the region out of London. Investment Banking Ecobank Group secures US$112mn credit facility from EIB to fund SMEs News Aggregation Team Friday, November 26, 2021 12:00 am http://africa.managersofwealth.com/article/32657/ecobank-group-secures-us112mn-credit-facility-from-eib-to-fund-smes This latest cooperation with Ecobank Group will help companies to better tackle challenges triggered by the COVID-19 pandemic, unlock economic and social opportunities, especially for SMEs and women-owned and women-run enterprises, across Sub-Saharan Afri Investment Banking EIB President Werner Hoyer and Cabinet Secretary open East Africa Hub News Team Friday, November 26, 2021 12:00 am http://africa.managersofwealth.com/article/32658/eib-president-werner-hoyer-and-cabinet-secretary-open-east-africa-hub At the European Investment Bank we are committed to enhancing the impact of our sustainable investment around the world in close cooperation with our global partners and through an increased local presence of our technical, environmental and financing exp Investment Banking Afreximbank is Joint Lead Manager for Fidelity Bank $400m Eurobond News Aggregation Team Tuesday, November 16, 2021 12:00 am http://africa.managersofwealth.com/article/32563/afreximbank-is-joint-lead-manager-for-fidelity-bank-400m-eurobond The bond is priced at a Re-offer Yield of 7.875 per cent and a coupon of 7.625 per cent. Investment Banking EBRD supports the development of Morocco’s capital market News Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33967/ebrd-supports-the-development-of-moroccoamprsquos-capital-market After launching the first “green bond” in the Moroccan banking sector in 2016, BOA remains innovative in its sustainable and inclusive finance instruments. Alternative Investments CMA licenses three fund managers as African Alliance drops investment banking News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33968/cma-licenses-three-fund-managers-as-african-alliance-drops-investment-banking “The investment bank notified the Authority of its intention to cease operation of their Investment Bank activities" Alternative Investments African Development Bank Group, Ethiopia sign agreements News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33972/african-development-bank-group-ethiopia-sign-agreements The agreements will support agro-industrial park, youth employment and Ethiopia-Djibouti power interconnection Alternative Investments Cameroonian billionaire, Alain Nkontchou, increases investment in Ecobank to N3.58bn News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33973/cameroonian-billionaire-alain-nkontchou-increases-investment-in-ecobank-to-n358bn The Cameroonian’s investment in the financial institution is now worth N3.58 billion. Alternative Investments Rehma Imrith, IQ-EQ: Mauritius is a connector between Asian private investments and African markets News Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33966/rehma-imrith-iq-eq-mauritius-is-a-connector-between-asian-private-investments-and-african-markets Mauritius already plays a pivotal role by facilitating impact investments on the continent. Alternative Investments Johannesburg Stock Exchange first to market with trading analytics platform News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33941/johannesburg-stock-exchange-first-to-market-with-trading-analytics-platform JSE Explorer uses peer group rankings to allow trading firms to examine their market share and analyse how they interact with the order book. Alternative Investments 15 things to know about offshore investing News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33943/15-things-to-know-about-offshore-investing There are now very few barriers to entry for those wishing to externalise their funds Alternative Investments FBN Insurance records N38.6b gross premium News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33945/fbn-insurance-records-n386b-gross-premium Ojumah said the company, considered as a fringe player at inception in 2010 has risen to become one of the top two life insurers in the country. Alternative Investments AXA Mansard records N28.64bn quarterly premium News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33946/axa-mansard-records-n2864bn-quarterly-premium It stated that its operating expenses rose by one per cent to N2.54bn from N2.52bn in March 2021 Alternative Investments MIREME Launches $5 Million Fund to Expand Usage of Natural Gas Vehicles News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33935/mireme-launches-5-million-fund-to-expand-usage-of-natural-gas-vehicles The creation of this fund responds to the Government’s goal of boosting the value chain of national primary products Alternative Investments Africa's future is tied to climate change News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33970/africaamp039s-future-is-tied-to-climate-change Market observers and Old Mutual stakeholders have expectations about the company’s overall role in society. Comment, Analysis & Research The most complained-about banks in South Africa – and one that saw a dramatic turnaround News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33961/the-most-complained-about-banks-in-south-africa-ampndash-and-one-that-saw-a-dramatic-turnaround These consumers had to turn to the OBS for intervention against their banks.” Comment, Analysis & Research SAA could remain financial burden on state despite selling major stake, Treasury warns News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33951/saa-could-remain-financial-burden-on-state-despite-selling-major-stake-treasury-warns The emergence of the concerns came as Public Enterprises Minister Pravin Gordhan was set to appear before the public-accounts committee. Comment, Analysis & Research Operation Vulindlela: Too early for congratulations, says business News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33952/operation-vulindlela-too-early-for-congratulations-says-business There is a broad consensus that the business environment requires structural reforms to encourage new investment. 3 Comment, Analysis & Research President Kenyatta Calls for Enhanced Cooperation Between Kenya and the UAE News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33956/president-kenyatta-calls-for-enhanced-cooperation-between-kenya-and-the-uae The UAE delegation was led by the Gulf nation’s Minister of State Sheikh Nahyan bin Shakhboot Al Nahyan who was accompanied by the Crown Prince’s Economic Adviser Abdul Rahman Neyadi among other UAE Government officials. Comment, Analysis & Research EFG Hermes recognised by Financial Times News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33957/efg-hermes-recognised-by-financial-times EFG Hermes was one of the only 10 African financial services companies listed on the ranking for the year and ranked 55th fastest-growing company in Africa Comment, Analysis & Research Why an Anti-Corruption Programme is essential for African startups looking to scale up News Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33942/why-an-anti-corruption-programme-is-essential-for-african-startups-looking-to-scale-up "Through that work, what we saw as a firm was that there was a real need for international best practice standard compliance advisory and counselling for firms facing the challenge of doing business in Africa." Comment, Analysis & Research South Africa is heading for a big interest rate hike News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33950/south-africa-is-heading-for-a-big-interest-rate-hike This is a change from the previous view for a 25bps hike at the May policy meeting. Comment, Analysis & Research UBS Investor Sentiment: Investors concerned about the war yet stay the course with their portfolios News Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33925/ubs-investor-sentiment-investors-concerned-about-the-war-yet-stay-the-course-with-their-portfolios Investors remain confident in their region’s economy and stock market, even though many expect prolonged and increased inflation Comment, Analysis & Research African Banker Magazine And Backbase Release The Annual African Banking Digital Transformation Report News Team Wednesday, May 04, 2022 1:00 am http://africa.managersofwealth.com/article/33905/african-banker-magazine-and-backbase-release-the-annual-african-banking-digital-transformation-report The report shows that the pandemic has largely accelerated the shift in the banks' model as it has highlighted the many limitations they were facing. Comment, Analysis & Research What transfer pricing could mean for your African business News Team Friday, April 22, 2022 1:00 am http://africa.managersofwealth.com/article/33833/what-transfer-pricing-could-mean-for-your-african-business Transfer Pricing (TP) principles have always been firmly in place but have recently been formalised with legislation. Tax More South African taxpayers are moving to this centrally-located island near Europe News Aggregation Team Monday, April 18, 2022 1:00 am http://africa.managersofwealth.com/article/33789/more-south-african-taxpayers-are-moving-to-this-centrally-located-island-near-europe Additional recommendations that appear to be aimed at ensuring consistency with the HNWI Unit include provisional taxpayers with business interests now being required to submit their assets (at cost) and liabilities in their tax filings each year. Tax Carbon Tax: does it impact the financial services industry? News Team Wednesday, April 13, 2022 1:00 am http://africa.managersofwealth.com/article/33766/carbon-tax-does-it-impact-the-financial-services-industry Having signed the Paris Agreement in 2016, South Africa has undertaken to reach a goal of net-zero carbon dioxide emissions by 2050. Tax How should phantom share plans be taxed? News Team Wednesday, April 13, 2022 1:00 am http://africa.managersofwealth.com/article/33768/how-should-phantom-share-plans-be-taxed The relevance of which provision should apply in relation to the timing of the tax event is that, in terms of section 8C the tax event occurs when the “equity instrument” is deemed to vest Tax Renegotiations of double tax agreements take time News Aggregation Team Monday, April 11, 2022 1:00 am http://africa.managersofwealth.com/article/33750/renegotiations-of-double-tax-agreements-take-time Our current international reputation does not help. Tax Auditors’ duties to report reportable irregularities: make sure you get it right News Aggregation Team Wednesday, April 06, 2022 1:00 am http://africa.managersofwealth.com/article/33718/auditorsamprsquo-duties-to-report-reportable-irregularities-make-sure-you-get-it-right The IRBA is a statutory body established in terms of the APA. Tax Ramaphosa sends message to taxpayers in South Africa News Aggregation Team Monday, April 04, 2022 1:00 am http://africa.managersofwealth.com/article/33695/ramaphosa-sends-message-to-taxpayers-in-south-africa The president cautioned that SARS will be ramping up its capacity to target those taxpayers who are not compliant. Tax Experts warn that a wealth tax in South Africa is coming News Aggregation Team Sunday, March 20, 2022 12:00 am http://africa.managersofwealth.com/article/33575/experts-warn-that-a-wealth-tax-in-south-africa-is-coming SARS intends to go after ‘unexplained wealth’, and has proposed that all provisional taxpayers with assets above R50 million be required to declare specific assets and liabilities at market values in their 20203 returns. Tax Rwanda ratifies its DTT with China, creating fail-safe tax structuring opportunities for EPC companies News Team Wednesday, March 09, 2022 12:00 am http://africa.managersofwealth.com/article/33489/rwanda-ratifies-its-dtt-with-china-creating-fail-safe-tax-structuring-opportunities-for-epc-companies To begin with, the DTT with China, in its article 7, adopts the functionally separate entity approach. Tax Tax ceiling proposed for South Africa News Aggregation Team Friday, March 04, 2022 12:00 am http://africa.managersofwealth.com/article/33461/tax-ceiling-proposed-for-south-africa Higher tax revenues mean a country is able to spend more on improving infrastructure, health, and education – keys to the long-term prospects for a country’s economy and people. Tax Financial Sector Assessment Program and Financial Sector Stability Assessment News Aggregation Team Friday, May 13, 2022 1:00 am http://africa.managersofwealth.com/article/33971/financial-sector-assessment-program-and-financial-sector-stability-assessment Banks have withstood the crisis well, helped by liquidity support from Central Bank of West African States and policies to support domestic demand. Regulation,Tax & Compliance Bank of Central African States Urges CAR to Annul Bitcoin as Currency News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33959/bank-of-central-african-states-urges-car-to-annul-bitcoin-as-currency The bank urged the CAR to comply with CEMAC in promoting economic and financial cooperation and avoiding policies that may lead to monetary fluctuations. Regulation,Tax & Compliance South African banks with the most fraud complaints News Aggregation Team Thursday, May 12, 2022 1:00 am http://africa.managersofwealth.com/article/33962/south-african-banks-with-the-most-fraud-complaints The number of complaints the Ombudsman for Banking Services adjudicated increased by 7% compared to 2020. Regulation,Tax & Compliance Auditing watchdog sounds alarm about accounting standards in SA News Aggregation Team Wednesday, May 11, 2022 1:00 am http://africa.managersofwealth.com/article/33953/auditing-watchdog-sounds-alarm-about-accounting-standards-in-sa "In the absence of such a body, there is a risk that there is self-regulation happening in the country, where interpretation of accounting standards is done by the private sector itself, which is such a risk," Regulation,Tax & Compliance Zimbabwe suspends bank lending in bid to arrest currency decline News Aggregation Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33939/zimbabwe-suspends-bank-lending-in-bid-to-arrest-currency-decline The southern African country reintroduced a local currency in 2019 after abandoning it in 2009 when it was hit by hyperinflation Regulation,Tax & Compliance New pensioner rule changes planned for South Africa News Aggregation Team Wednesday, May 04, 2022 1:00 am http://africa.managersofwealth.com/article/33907/new-pensioner-rule-changes-planned-for-south-africa Under the current regulations, a person is considered an ‘older person’ from 65 as a man and from 60 as a woman. Regulation,Tax & Compliance Wema Bank Debunks Money Laundering, Bribery Claims News Aggregation Team Friday, April 29, 2022 1:00 am http://africa.managersofwealth.com/article/33891/wema-bank-debunks-money-laundering-bribery-claims The publication went ahead to mention the names of certain Wema Bank management staff to be allegedly involved in the said transaction. Regulation,Tax & Compliance StanChart spends Sh214m on retrenchment of staff News Aggregation Team Thursday, April 28, 2022 1:00 am http://africa.managersofwealth.com/article/33878/stanchart-spends-sh214m-on-retrenchment-of-staff Stanchart’s staff costs declined to Sh6.5 billion in the year ended December from Sh7.8 billion a year earlier as it benefitted from the cumulative cost cuts. Regulation,Tax & Compliance Development Bank Disburses N482bn to Boost MSMEs News Aggregation Team Thursday, April 28, 2022 1:00 am http://africa.managersofwealth.com/article/33879/development-bank-disburses-n482bn-to-boost-msmes The bank’s total assets also increased by 1.4 per cent from N492.3 billion in 2020 to N499.2 billion in 2021. Regulation,Tax & Compliance Beneficial ownership transparency: how to fix a serious secrecy loophole in the automatic exchange system News Aggregation Team Wednesday, April 27, 2022 1:00 am http://africa.managersofwealth.com/article/33867/beneficial-ownership-transparency-how-to-fix-a-serious-secrecy-loophole-in-the-automatic-exchange-system This loophole works because the beneficial owner of an account is not always reported under the OECD’s standard (CRS) and is never reported by the US under the inter-governmental agreements (IGAs) related to the Foreign Account Tax Compliance Act (F Regulation,Tax & Compliance West Africa gets ready for desertification COP15 News Aggregation Team Tuesday, May 10, 2022 1:00 am http://africa.managersofwealth.com/article/33949/west-africa-gets-ready-for-desertification-cop15 The African Development Bank’s Africa Climate Change Fund contributed to the workshop, developed by the UN Convention to Combat Desertification, in collaboration with several technical and financing partners. ESG Here’s why developed economies must bear the $100 trillion cost of the net-zero transition in emerging markets News Team Monday, May 09, 2022 1:00 am http://africa.managersofwealth.com/article/33934/hereamprsquos-why-developed-economies-must-bear-the-100-trillion-cost-of-the-net-zero-transition-in-emerging-markets By contrast, if developed markets were to fund the transition cost, it would result in higher household consumption and global GDP being cumulatively raised by $108.3 trillion. ESG Green Hydrogen – the New Energy Rush for Africa News Aggregation Team Friday, May 06, 2022 1:00 am http://africa.managersofwealth.com/article/33928/green-hydrogen-ampndash-the-new-energy-rush-for-africa With rapidly improving technology and decreasing costs for fuel cells, green hydrogen is becoming a more appealing fuel alternative in Africa. ESG Cim Finance issues Mauritius’ first Green Bond News Team Monday, May 02, 2022 1:00 am http://africa.managersofwealth.com/article/33896/cim-finance-issues-mauritiusamprsquo-first-green-bond The Green Bonds were also created to meet the increasing demand for socially responsible investment opportunities. ESG Ghana: ADB Group to Double U.S.$25 Billion News Aggregation Team Thursday, April 21, 2022 1:00 am http://africa.managersofwealth.com/article/33830/ghana-adb-group-to-double-us25-billion "We will double that amount to 25 billion dollars over the next five years, he said. ESG ESG and the risk of lender liability for environmental harm News Team Wednesday, April 20, 2022 1:00 am http://africa.managersofwealth.com/article/33815/esg-and-the-risk-of-lender-liability-for-environmental-harm The risk of exposure is determined by the lender’s degree of control over the borrower. ESG Promoting Environmental Sustainability News Aggregation Team Thursday, April 14, 2022 1:00 am http://africa.managersofwealth.com/article/33783/promoting-environmental-sustainability This is why the initiatives of The Coca-Cola Company are noteworthy. ESG Reporting standards, metrics to drive ESG in capital markets News Aggregation Team Thursday, April 07, 2022 1:00 am http://africa.managersofwealth.com/article/33730/reporting-standards-metrics-to-drive-esg-in-capital-markets Looking at South Africa, the report notes that the JSE has delivered draft climate and sustainability disclosure guidelines. ESG New finance taxonomy to explain what makes an SA project a green one News Aggregation Team Thursday, April 07, 2022 1:00 am http://africa.managersofwealth.com/article/33731/new-finance-taxonomy-to-explain-what-makes-an-sa-project-a-green-one The green finance taxonomy is meant to help ensure that national priorities are reflected in financing measures, while still remaining aligned with international trends. ESG Stimulating Creative Industry for Economic Sustainability News Aggregation Team Wednesday, April 06, 2022 1:00 am http://africa.managersofwealth.com/article/33715/stimulating-creative-industry-for-economic-sustainability Apart from preserving the culture and values of the society, the creative industry is adjudged to be a catalyst for the economic transformation of any country. ESG W’Bank: Developing Countries Face Growing Risks from COVID-19 Induced Fragility, Non-transparent Debt News Aggregation Team Wednesday, February 16, 2022 12:00 am http://africa.managersofwealth.com/article/33334/wamprsquobank-developing-countries-face-growing-risks-from-covid-19-induced-fragility-non-transparent-debt The World Bank stressed that rising inflation and interest rate increases, pose further challenges to recovery and advised that developing countries need to focus on creating healthier financial sectors. Covid-19 Michael Sachs | Ramaphosa must level with SA: Income grant means tax hikes News Aggregation Team Thursday, February 10, 2022 12:00 am http://africa.managersofwealth.com/article/33275/michael-sachs-ramaphosa-must-level-with-sa-income-grant-means-tax-hikes By then the grant would have been in place for five years, and it does not make sense to think of it as temporary. Covid-19 Investec tells staff in South Africa to get vaccinated – or pay for their own tests News Aggregation Team Tuesday, February 08, 2022 12:00 am http://africa.managersofwealth.com/article/33257/investec-tells-staff-in-south-africa-to-get-vaccinated-ampndash-or-pay-for-their-own-tests Many companies in Africa’s most-industrialized nation are mandating workers get vaccinated to return to office. Covid-19 Adebimpe: How Nigerian Banks Survived COVID-9 Turbulence News Aggregation Team Monday, January 17, 2022 12:00 am http://africa.managersofwealth.com/article/33051/adebimpe-how-nigerian-banks-survived-covid-9-turbulence Now the global economy is on the recovery path and we believe it will be sustainable considering the numerous measures being implemented by governments across the globe to tackle the pandemic once and for all. Covid-19 Can employers require unvaccinated employees to take PCR COVID-19 tests regularly. . . at their own cost? News Team Wednesday, December 08, 2021 12:00 am http://africa.managersofwealth.com/article/32743/can-employers-require-unvaccinated-employees-to-take-pcr-covid-19-tests-regularly-at-their-own-cost The question of whether the production of a negative test is one aspect that an employer must consider when implementing a testing regime. Covid-19 Warning over new lockdown restrictions for South Africa News Aggregation Team Monday, November 29, 2021 12:00 am http://africa.managersofwealth.com/article/32661/warning-over-new-lockdown-restrictions-for-south-africa Business4SA chair Martin Kingston said Ramaphosa should avoid the reintroduction of a stricter lockdown and instead take steps to raise vaccination rates. Covid-19 Vaccination status and flexible workstyle influence consumer optimism News Team Monday, November 29, 2021 12:00 am http://africa.managersofwealth.com/article/32672/vaccination-status-and-flexible-workstyle-influence-consumer-optimism Overall, 61% of respondents are optimistic about the future, and only 18% are not. Covid-19 New Covid variant roils global markets with oil sinking 5% News Aggregation Team Friday, November 26, 2021 12:00 am http://africa.managersofwealth.com/article/32659/new-covid-variant-roils-global-markets-with-oil-sinking-5 Many of these mutations are linked to increased antibody resistance Covid-19 Afreximbank and the International Islamic Trade Finance Corporation (ITFC) ratify US$250 million finance facility to Support Africa News Team Thursday, November 11, 2021 12:00 am http://africa.managersofwealth.com/article/32526/afreximbank-and-the-international-islamic-trade-finance-corporation-itfc-ratify-us250-million-finance-facility-to-support-africa The facility significantly facilitates Afreximbank’s execution of strategic interventions. Covid-19 The Banking Industry Withstands Tough Times News Team Thursday, October 21, 2021 1:00 am http://africa.managersofwealth.com/article/32335/the-banking-industry-withstands-tough-times When the pandemic struck last year, the central bank decided to reduce the Prudential Capital Adequacy Ratio (CAR) from 15 percent to 12.5 percent for banks operating in Botswana. Covid-19