Managers of Wealth Africa

A further tightening stance by the MPC

The committee’s decision was also influenced by the need to stabilise the Naira.

South Africa requires comprehensive AI legislation – experts

“Regulating AI is… crucial in ensuring that AI achieves outcomes that are in the interests of society,” said the experts.

Kenya has tightened its laws to stop money laundering: why banks are the focus

Money gained illegally can be laundered by placing it into the financial system, through banks.

Yield-hungry investors to blame for Africa debt crisis

In cases of debt distress, preference has been how to save creditors.

African Development Bank approves $50 million loan to support climate change resilience, improve livelihoods and boost food security in Nigeria’s Yobe State

“This is a very practical and granular project that tackles issues of security, vulnerability, food security, and restoration of the degraded environment.” Dr Akinwumi A. Adesina

Parliament passes 8 new bills – including changes for pensions and a new SOE in South Africa

The government published the bill back in November 2023, which, among amending 12 other security laws, is aimed at countering the erosion of the country’s State Security Agency (SSA) by overhauling it.

24.5% interest rate: Private sector foresees higher inflation, massive job cuts

The CBN again increased the MPR to 24.75 per cent from 22.75 per cent despite concerns about economic hardship.

Information regulator launches investigation into CIPC

The hackers added that the security vulnerability that was exploited has existed since at least 2021.

Unpaid pension and PAYE by State entities hit Sh73bn

Revelations by the Parliamentary Budget Office (PBO) show that unremitted pension dues stood at Sh47.6 billion while PAYE was Sh25.3 billion as at the end of last month.

FG deducts N415bn state allocations for debt servicing

The PUNCH observed that the most hit state by the deductions was Lagos, with about N131.1bn deducted for external debt servicing.

Ndindi Nyoro, The Chair Of Budget Committee In Parliament, Faults KRA For Heavy Taxation

Public participation has been a long-neglected element while the government makes taxation increments.

CMA allows electronic IPOs in drive to cut costs and end listing drought

IPO process is quite cumbersome, that is the reconciliation and refunds and all those kinds of things.

KRA in tough race to collect Sh1.1 trillion in four months

Based on its annual target to collect Sh2.49 trillion during the financial year, this means that the collections recorded shortfalls averaging Sh36.2 billion monthly.

Dark clouds gather for South Africa as reality sinks in

The rand started the new week on the back foot, pushing towards the psychological R19.00 to the dollar mark as markets brace for tighter monetary policy in the coming weeks.

MPs want foreigners to get permits before investing

Since Section 3(1) provides that a foreign investor who intends to invest in Kenya may apply to the authority for an investment certificate,” the committee chaired by Embakasi North MP James Gakuya said.

Ex-Chase Bank director fails to quash CMA fine

The CMA approved the bank’s application for its bond issue on April 22, 2015, a move that saw the institution proceed to raise Sh4.8 billion from investors.

Treasury seeks more revenue from financial sector regulators

The regulators collect billions of shillings each year in the form of levies, licence fees and fines, leaving them with substantial surpluses, which they remit to the Treasury.

Dlamini-Zuma sets stage for launch of new bank in South Africa

South Africa is poised to introduce a new bank.

Kenya to access more IMF funding on limit increase

The Executive Board of the International Monetary Fund (IMF) approved on March 4, 2024 an extension until end of 2024 of the temporary increase in normal limits

Financial watchdog to licence 60 crypto platforms by month-end in South Africa

Bitcoin — the world’s largest cryptocurrency — hit an all-time high of $73,664

Regulation,Tax & Compliance