Managers of Wealth Africa

Ecobank commends health workers in fight against COVID-19

They unrelentingly ensure citizens are cared for and that the hospitals are up and running despite the high risk to their individual health – we appreciate you.

FirstRand bosses respond to president’s call, pledge 30% of salaries to Covid-19 relief fund

The money will go into the Solidarity Response Fund that has been set up to fight the coronavirus pandemic.

Africa.com Convenes Top African Business Leaders with Harvard Business School Faculty to Respond to COVID-19

The four-part webinar series starts on April 15 and will feature panel discussions led by the Harvard faculty, in conversation with leading African business leaders including:

CBK halts Absa forex trading for one week

Absa Kenya is required to... reverse the market positions that were created as a result of the flagged transactions.”

Commodities Markets and Coffee Exchange Regulations gazetted

The regulations give effect to Section 12(1) (ka) of the Capital Markets Act on regulation of commodity exchanges.

Cardano Supports South African Bockchain Alliance

Cardano have previously made inroads into the African continent through educational partnerships and the Foundation believe this association with SANBA will provide a “…renewed focus on Africa [and] represents a step towards building economic

Unpacking proposed tax amendments in the Budget

It is thus proposed that the CFC legislation be amended to limit the dividend exemption available to a resident individual or trust relating to the accrual or receipt of dividends from a resident company to a CFC.

Kenya: key highlights of the Business Laws (Amendment) Act, 2020

The new amendment will hopefully see parties embrace technology and conclude contracts virtually, making it more efficient to carry on business.

Mauritius – tax measures in response to the coronavirus (COVID-19)

All penalties or interests will be waived in the following cases:

Mauritius: capital markets | practical considerations in the context of the Coronavirus (COVID-19)

Trading and settlement activities on SEM and CDS will, therefore, resume on Monday, 6 April 2020

Investec To Consider 2020 Payouts After SA Regulator Weighs In

Investec said it will consider the Prudential Authority's advice.

S. African Banks Urged to Withhold Future Dividends, Bonuses (2)

Dividends already declared can still be paid, regulator says

EXCLUSIVE-S.Africa weighing 'funding for lending' type scheme - central bank governor

The central bank would be involved, our law doesn't allow us to lend unsecured, but as part of a broader design of a scheme we're prepared to be involved.

Banks to submit loan amnesty list by Friday

The CBK said individuals and small businesses seeking amnesty must prove that inability to pay is directly tied to the effects of coronavirus.

South Africa: Absa group could lose $286mln in legal proceedings initiated by Vodacom

NBC is accused of having paid $64 million to the Tanzanian Treasury.

Algeria banks to defer payments for coronavirus hit firms

Algerian banks will defer or reschedule loan payments for firms which have been financially affected by the coronavirus crisis, the country’s central bank said today, Reuters reports.

KRA to reward whistleblowers on tax cheats

The plan comes amid a tightening noose by the taxman on tax cheats.

Nigeria’s private sector COVID-19 fund balloons to N21.58b

The document showed that Modupe and Folorunsho Alakija, Mike Adenuga and Nigeria Deposit Insurance Corporation donated N1billion each.

Banking cyberattacks on the rise, with a third of South Africans vulnerable

This is why there are security updates – they are meant to find and close potential gaps, before threat actors find and exploit them.

African Development Bank Group approves Gender Equality Trust Fund and Risk-Sharing Mechanism to improve women’s economic empowerment in Africa

Funded by donors, the GETF will support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme

Regulation,Tax & Compliance