Managers of Wealth Africa

The Financial Services Commission of Mauritius issues the Financial Services (Crowdfunding) Rules 2021

In effect, the Crowdfunding Rules legitimate the operation of a crowdfunding platform in Mauritius and provide for its modus operandi.

BCP Bank (Mauritius) obtains a € 25 million line of credit from ‘Agence Française de Développement’ and DEG

This financing shows the confidence that financial institutions have in us and I would like to thank Proparco and DEG, who are long-standing partners.

Key proposals affecting international tax and financial institutions in draft bills

The insurance industry previously has requested confirmation of this point and the proposed clarification is welcome.

Will Sars high net worth unit close South Africa’s tax gap?

‘There is a particularly vexed situation’ in the country

Standard Bank’s Shari’ah Personal Call Account makes personal saving easy and compliant

The Shari’ah Personal Call Account is ideal for casual saving and cash flow management.

Uganda inches closer to enforceable netting

The draft regulations were developed following a technical assistance memorandum of understanding signed between BOU and Frontclear.

The regulation of open banking in South Africa

South Africa currently does not have an equivalent to PSD2.

Keeping the recovery on track

The recovery remains uneven with countries emerging from the crisis facing different challenges.

Sanlam Life and Fedgroup Life fined for weaknesses in money laundering prevention measures

Fedgroup Life appealed the amount of the initial fine, which was R750 000, and it was subsequently reduced. It did not dispute its non-compliance.

‘Beneficial ownership register vital in anti-corruption campaign’

“Since January 3, the CAC has deployed an electronic register that covers all aspects of our registration services, and this includes the disclosure of beneficial owners.”

Mauritius Finance collaborates with internationally recognised bodies for training initiatives

This will bring foreign expertise to Mauritius to transfer knowledge to our youth, he added.

Sovereign Wealth Funds: a detailed analysis of transnational regulation and dispute resolution

SWFs are located worldwide. The 20 largest SWFs (as at 22 August 2021) are spread across the Middle East, Asia, Europe, North America and Australia.

Africa Wants Permanent Financial Mechanism Against Global Crises

To get around these difficulties, especially when the competition is against richer and more powerful countries, Strive Masiyiwa says the solution was to “implement production capacity in Africa for Africa”.

Sustainable evolution post FATF

As we have gone past the halfway mark of 2021, all eyes are focused on the upcoming next step in Mauritius coming off the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring (the ‘Grey List’).

Corrupt Oil Trader Turns On Colleagues in Massive Africa Bribe Case

A London-based trader funneled millions of dollars to African officials. When he was caught, he talked.

New ‘Brazilian grant’ and basic income being considered for South Africa: Treasury

The study is expected to be completed in the next week, while the presidency is currently working on its own anti-poverty plans.

Rich Nations Head to South Africa Seeking Coal Exit Deal

Eskom alone accounts for more than 40% of South Africa’s emissions.

BMW, JPMorgan urge UK to ease Covid-19 limits on Southern Africa

"As Britain looks to develop new trading relationships around the world, we would urge you to reassess the restrictions placed on southern Africa"

Non-performing loans declining but remain above benchmark – CBN

“The banking sector itself remains stable and resilient, with strong liquidity and capital adequacy ratios."

FSCA warns public against 'billionaires' club' director Mandla Lamba

The FSCA also warned that Lamba himself is not authorised to offer advice or these services.

Regulation,Tax & Compliance