Managers of Wealth Africa

Treasury snubs Sh25 billion at bonds auction amid high liquidity

In the latest auction investors asked to be paid an interest rate of 12.346 percent for the 10-year paper but the Treasury accepted 12.3 percent.

A new option for retirement … the hybrid annuity

It’s a life (or guaranteed) annuity inside a living annuity.

Zimbabwe and IMF reaches agreement on reform programme

Zimbabwe is also facing the challenge of responding to drought and the devastation from Cyclone Idai, Leon said.

Asset manager fined R350 000 for promoting unapproved funds

According to the maket conduct regulator, 36ONE had co-operated in the enforcement process.

Fund managers open up about the ‘landmines’ of 2018

EOH, Tongaat, Aspen, BAT and MTN have all taken a beating.

AfDB approves $4.8 million grant to accelerate African free trade

The Bank’s grant is targeted at laying the institutional foundations for the AfCFTA implementation secretariat and the roll out of the implementation programmes.

New Head of the South African Revenue Services tasked with Reshaping the Agency

But it’s an open question whether he will be able to repair the damage left by his predecessor – above all, Sars’ oversight of the tobacco sector, which has grown dangerously lax in recent years.

Zimbabwe signs economic reform deal with IMF

Under the agreement with the IMF, policies will focus on eliminating the government’s double-digit fiscal deficit and adoption of reforms to allow market forces to drive the functioning of foreign exchange and other financial markets.

World Bank lowers forecast for Nigeria’s economic growth to 2.1%

The Bank also lowered its growth estimates for Sub-Saharan Africa to 2.8 percent in 2019

Nigerian parliament seeks tax hike on luxury goods as economists critic move

In the past the government has mulled the idea of raising taxes on luxury goods to 15 percent from the current rate of 5 percent, to boost its tax to GDP ratio to 15 percent from 6 percent between 2017 and 2020.

South African companies to be hit the most with expat tax

But tax experts explained businesses will suffer more than individuals because they will be left to pick up the bill.

Taking the Pulse of Africa’s Economy

The report notes that the three largest African economies—Nigeria, Angola and South Africa

Will Zimbabwe’s new currency sink or swim?

The government of Zimbabwe has launched a new – but still unofficial -currency. However, this may not be enough to ease the country’s severe cash shortages. Tendai Marima reports.

Sanjeev Gupta's new bank eyes brisk UK trade after Brexit

Mr Gupta's GFG Alliance has just received approval from British regulators for the Commonwealth Trade Bank to operate as a separate entity, almost a year after he acquired what was known as Diamond Bank UK, from its parent in Nigeria.

Southern Africa’s GDP will rise in 2019, but low – AfDB

South Africa, which accounts for two-thirds of the GDP, was among the five slowest growing economies, expanding less than one percent in 2018.

KCB deal gives Imperial Bank depositors access to more money

The regulators had accepted KCB’s binding offer to buy out the good bank

Retirees petition Reps, want contributory pension scheme scrapped

A retired Director in the Federal Ministry of Information, Aigbokhaleode Asimiafele, said there were over 10 infractions allegedly committed by PenCom against the Act, including infringement on human rights.

EOH boss sets deadline for investigation conclusion

He adds that Rothschild & Co, the international investment bank, is working closely with EOH on reorganising the business for enhanced growth and stakeholder value.

World Bank approves $143m to scale-up higher education support in Ghana, others

The First Africa Higher Education Centers of Excellence for Development Impact (ACE-Impact) aims to improve the quality, quantity and development impact of postgraduate education in selected universities in the beneficiary countries through regional speci

South Africa major recipient of BRICS New Development Bank funding

Once the NDB’s board of directors approve a project for funding, the bank’s management and the entity to be funded will enter into negotiations to reach a loan agreement.

Regulation,Tax & Compliance