Managers of Wealth Africa

The potential unintended consequences of prescribed assets

South Africa had prescribed assets for many years leading up to the late 1980s, and they were abolished for good reason.

Switzerland Governor Raymond Furrer On the Two Bilateral Agreements Signed During the Bank's Annual Meetings in Malabo

Entrepreneurs that are part of a functioning ecosystem are more likely to succeed than those who are not.

Zimbabwe pension payouts delayed as foreign company cuts off Zimbabwe banks

The investment company said Payserv suspended its service due to a "collective refusal to pay historical and contracted pricing to Payserv Africa in US dollars".

S.African tribunal says it can't charge foreign banks in rand-rigging case

In a probe that has rumbled on since 2015, the Competition Commission has been seeking fines against 23 local and foreign banks that it alleges colluded to coordinate activities when giving quotes to customers buying or selling the rand and the dollar.

100 Visa-free destinations for South Africans

Henley & Partners South Africa shares visa-free destinations and the countries that require a visa on arrival.

CBK orders banks to file reports on new currency seekers

The CBK wants financial institutions to obtain identifications documents of every person involved in the transaction and establish the source and the purpose of the funds.

KRA asks insurance firms for data on payments to doctors

The demand for disclosures is based on the Finance Act 2016, which granted the taxman access to third-party data for tax collection purposes.

South Africa Tells Investigators to Clarify Rand-Rigging Charges

It also rejected attempts to quash the case.

Mauritius to offer umbrella license to providers offering wealth management services

We have prepared a summary of key measures governing the Mauritius budget 2019-2020 for your perusal.

Uganda advised to freeze Kenya currency exchange

The commercial Bank of Kenya also suspended currency conversion and repatriation of all Kenyan currency to restrict illicit flows into the Kenya,

Uganda stops use of Kenyan currency

The CBK also suspended currency conversion and repatriation of Kenyan currency.

South Africa: Reserve Bank Official - 'It Is Unclear If, or How, Standard Bank Missed the Gupta Red Flags'

Standard Bank was among the country's major financial institutions that dumped the Guptas and related companies amid the growing State Capture scandal in 2016

Nigeria: AfDB Invested $1bn On African SMEs, Others - Adesina

The theme of this year's meetings is 'Regional Integration for Africa's Economic Prosperity'.

ABX wins approval for crypto asset exchange and custodian

Hirander Misra, chairman and CEO at GMEX Group and vice chairman at Arabian Bourse, believes that the partnership will bring proven market expertise and technology, with a deep understanding of the exchange landscape in the Middle East.

Debt servicing gulps over 50% of Nigeria’s revenue — AfDB

It added that with the increasing domestic debt burden, the percentage of revenues spent on debt servicing in Nigeria was even higher.

CIH Bank plans to expand in Africa

One of such projects is the digitalization of CIH Bank’s services.

South African Antitrust Regulator Readies Move on Rand-Rigging

Standard Bank’s South African unit, Bank of America Merrill Lynch International Ltd. and Standard New York Securities Inc. all said the traders the commission accused of manipulation on their behalf had either never worked for them or never traded t

Canopy by Hilton set to debut in Africa

It currently operates in nine destinations around the world with more than 35 properties in the pipeline, aiming to guarantee travelers unique and authentic experiences.

Finance Minister Tito Mboweni slammed over Reserve Bank mandate

This resulted in Magashule being publicly accused of "lying and causing policy uncertainty" by Mboweni - a former Sarb governor - and ANC economic transformation head Enoch Godongwana.

National Treasury director-general on digital tax plan

Meantime, China’s central bank governor Yi Gang has kept a low profile during the meetings here, but he was spotted earlier Sunday.

Regulation,Tax & Compliance