Managers of Wealth Africa

Experts laud new tax measures

The overall new tax proposals announced by President Uhuru Kenyatta to cushion Kenyans against the impact of the coronavirus pandemic are expected to rob the tax man close to 100 billion shillings in revenue.

RBA fears massive benefits erosion

In a communique to 1,287 pension schemes, the RBA chief said it had reviewed reporting regulations to ease the schemes' pain by deferring submission of audited financial results by sixty days—after listed firms were given similar extension.

IMF, World Bank clear Somalia for debt relief, normal ties to world

The decision comes at a critical time for Somalia

African Development Bank picks Citi for US dollar coronavirus bond sale

Funding from the bank per project is typically below $200m, though a power-sector reform programme in Angola drew funding of $1bn.

NSE Relaxes Requirement for Listed Companies Due to COVID-19

The virus outbreak has already affected capital market obligations of some of the quoted companies

Kenya makes Kshs 115b emergency loan request

With suppressed economic activities which has chocked revenue the government has turned to Bretton woods institutions for budgetary funding.

CBK cuts main loan rate, lowers growth estimate to 12-year low

The extra billions of shillings will provide banks with low-cost funds for lending to households and small businesses expected to suffer reduced cash flow due to the virus.

Reserve Bank announces more coronavirus relief measures

The central bank said it will provide intraday liquidity support to clearing banks, through auctions conducted daily between 10h00 and 13h00 – except Wednesdays when the main repurchase transaction is conducted.

Here’s how the coronavirus lockdown will affect banking in SA

The banking sector will, for the most part, remain unchanged during the lockdown - with a few exceptions here and there.

Tax in the time of COVID-19

The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.

Acting selfishly has consequences right now – why ethical decision making is imperative in the coronavirus crisis

In fluid situations, these conditions are hard to meet.

COVID-19: Nigerian Stock Exchange To Shut Down Trading Floor

Investors gain N20.9bn Tuesday

Ramaphosa announces raft of 'quick, targeted' interventions to buoy SA economy

The president said that while the economic impact of the lockdown would be significant, the "costs of not acting now will be far greater".

Govt considering ‘National Disaster Benefit’ fund to pay workers compensation - Cosatu

President Cyril Ramaphosa, on Monday evening, announced a raft of "quick and targeted" economic interventions to buoy SA's economy due to the impact of the pandemic and a 21-day nation-wide lockdown that will commence on midnight on Thursda

BMCE Bank of Africa / BMCE BANK International Plc gets DIFC category4 license

With the prospects of $200mn transactions from year one

South Africa: Nigeria to the PIC’s rescue?

The PIC’s cumulative assets under management are valued at R2trn, making it one of the most important entities under state control.

Kenya’s Equity Group to acquire BCDC in DR Congo

The Kenyan group has bid $105 million for the transaction and plans to subsequently merge BCDC with its local subsidiary in the DRC, Equity Bank Congo S.A, once the operation is completed.

South Africa's silence on the economy contrasts with major steps to contain the virus

City streets and highways flow freely in “rush hour” as firms send their staff home, while hotels and lodges are struggling to fill rooms.

Eskom pension fund is feasting off a captive audience

The pension fund laws changed in 2001, which allowed people to move their money, on resignation

Path Solutions selected as a strategic technology solutions partner of MyBank Limited Somalia

Under the terms of the agreement with MyBank Ltd., Path Solutions will provide a full Islamic core banking suite in addition to branchless banking as well as payments and personal financial management tools.

Regulation,Tax & Compliance