Managers of Wealth Africa

Treasury opposes proposed pension fund law changes

The bill was introduced by the main opposition party Democratic Alliance in November as a measure to help alleviate financial stress caused by the Covid-19 pandemic.

Communications Authority changes terms in fresh hunt for new boss

Justice Maureen Onyango found that the advertisement for the vacancy did not meet the minimum statutory requirements in terms of the qualifications for the position and the process of advertising.

Kenya to receive second tranche of Sh44bn IMF loan

“The IMF staff team and the Kenyan authorities have reached a staff-level agreement on the first review of Kenya’s economic programme under the Extended Fund Facility and Extended Credit Facility,”

Safaricom takes 56pc stake in Ethiopia firm

He did not explain the circumstances that led to the changes in the ownership. The multinational’s stake has also gone up, having previously stood at five percent.

EAC, Germany sign $65m agreement for health, digital projects

The funds will finance the procurement of at least four different types of vaccines – Pentavalent, Rotavirus, Pneumococcal and Measles second dose.

Bank of Central African States and the African Energy Chamber to work together on solution for FOREX regulation for energy industry

The meeting was in response to concerns by energy companies operating in the Central African Economic and Monetary Community (CEMAC) region

Long-awaited clarity on broad-based black ownership

The Practice Note states that beneficiaries of discretionary collective enterprises seldom have the right to vote at general meetings of underlying entities.

Lack of regulatory milieu hinders Islamic finance growth in North Africa

Issuers with weaker credit quality are likely to find it more difficult to access the market, says S&P

South African exchange control – relaxation of loop structures

The level of disclosure required needs to be balanced against any potential tax and estate duty savings and most importantly whether the return on the investment outperforms current returns on invested funds.

AfDB supporting banks to achieve climate, SDG goals – Akinwumi

The session focused on the role of PDBs and the reorientation of financial flows towards climate and sustainable development goals.

Regulations are forcing banks to put you first

Efforts to reduce fees, or at least not raise them in the 2021/22 financial year.

Zimbabwean Central Bank to restructure onerous Afreximbank loans

The tenure of the loans ranged from three years to five years and carried total cost, including management fees, advisory fees, participation fees, letter of credit fees, and LIBOR plus interest of approximately 12 percent.

AfDB and EBRD partner to unlock sustainable investment opportunities in Africa

The African Development Bank and EBRD have a long history of cooperation.

X-raying CBN’s Naira4dollar scheme

While he applauded FirstBank’s seamless service delivery and reward to its customers, Okoro urged the CBN to extend the policy to enhance awareness for the needed impact to be felt.

Treasury raises Sh20.9 billion in oversubscribed May bond tap sale

The tap sale will apply the same coupon rates as the month’s initial sale at 12.734 per cent and 13.924 per cent respectively.

Paris conference key for Sudan’s transition and unlocking its economy

To achieve these goals Sudan will need to rely heavily on its international partners.

Central Bank of Kenya to liquidate bank after ‘severe violations’

A report into Charterhouse by managers appointed to take over

SA banks are closing accounts without warning, complaints data suggests

Account closures by banks usually go unnoticed, with banks citing client confidentiality in such dealings and account holders often not willing to talk in public about the reasons they were fired as clients.

Ratings agency sends wage warning to South Africa

The group forecast that South Africa’s GDP growth is likely to remain below 2% due to the limited scale of planned structural reform, adding that ongoing issues such as government’s weak implementation record and electricity shortages will con

Charterhouse bank liquidation begins, refunds in 30 days

Process follows the submission of a Statutory Management Report that recommended its winding up.

Regulation,Tax & Compliance