Managers of Wealth Africa

Africa: Urgent action needed to mobilise domestic resources as tax revenues plateau

African economies continue to rely heavily on taxes on goods and services, which accounted for 53.7% of total tax revenues across the 26 countries.

Best Bank Awards: Standard Bank

Standard Bank was voted Best bank for South African rand/African currencies excluding ZAR at the 2019 FX Week Best Bank Awards

Stanbic signs Kshs 3bn bank guarantee with Chinese firm

Stanbic Bank Kenya have been funding projects in line with the bank’s homegrown strategy to contribute to the growth of the Kenyan economy

AfDB signs $250m RPA with ABSA bank

The Bank’s commitment under the RPA is to assume up to 50% (and 75% in special cases) of every underlying transaction issued by the IBs, while ABSA will confirm such a transaction and bear not less than 50% of its underlying risk.

The South African banks that are best at dealing with complaints

Standard Bank was named as the overall winner according to these criteria for ‘category A’ banks, while African Bank was named as the overall winner for ‘category B’ banks.

Battle to recover R42 billion in unclaimed pension money

In a recent investigation, Open Secrets found there was R42 billion in unclaimed pension benefits owed to more than four million South Africans, a country where 44% of pensioners live in poverty.

Nedbank contracts with Fexco for dynamic currency conversion

The DCC technology allows international cardholders to pay for products in their home currency

Africa50 joins Power Africa for electricity investments

The aim of this alliance is to increase investment tenfold in the construction of electricity generation infrastructure on the African continent.

Experts praise new tourism pension scheme

PIAJ Director Desmond L Johnson was also enthusiastic about the new pension fund, and felt that it was an excellent move by the government.

SA Revenue Service dismisses top legal officer following disciplinary hearing

Mokoena's services were terminated on Friday.

New rules to stop money from leaving South African hedge funds

Like their global peers, South African hedge funds are facing more competition from passive funds, while meagre returns have intensified scrutiny on fees.

KDIC rejects vulture fund’s Imperial bid Bank

KDIC was also asked to contribute cash capital into the company equivalent to a fifth or the entire sum claimed by depositors.

Bank of Tanzania warns against crypto currencies

The statement further said the bank was also aware of the incidences where these currencies are being marketed and traded with a perception of making them appear as if they were a legal tender in the country.

The regulatory agenda moves on

Regulators may need to consider changing from supervising entities to supervising activities

Ecobank Strengthens Creative Industry Financing

Ecobank’s collaboration with Terra Kulture, was one of the many partnerships, which is hoped to boost contribution of the creative industry in Nigeria to economic growth.

Financial services need to wake up to fact that treating customers well is good business

The aim of the new law is to improve financial sector conduct and ensure fairer outcomes, particularly for customers.

Treasury seeks to increase budget by Ksh86B

Treasury wants to increase spending to 3.13 trillion shillings in the fiscal year 2019/20.

Hedge Funds in South Africa Bet on New Rules to Stem Outflows

“This is the next evolution of where we are going,” said Hayden Reinders, the chairman of the Association for Savings and Investments South Africa’s hedge funds standing committee. “We want to create awareness that a hedge fund is

South Africa is emerging as a new hub for Retail Forex Trading

South African Rand is the most traded currency in Africa in terms of daily volume

S.Africa's Nedbank to pay for mortgages under new rewards scheme

The kinds of behaviour it will reward include the use of cards rather than cash, responsible borrowing and saving.

Regulation,Tax & Compliance