Managers of Wealth Africa

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.

Ecobank Ghana, GN Savings and Loans partner

At the signing ceremony, the Chief Executive Officer (CEO) of GN Savings, Mr Issah Adam, said “with this partnership signed, we urge our clients and the Ghanaian banking public to continue doing business with us.”

Government lending earns banks Sh122b

The seven big banks were the main beneficiaries of the windfall, sharing out Sh79.3 billion, or 67 per cent of the total haul, among themselves.

NSE approves Access Bank’s listing of 6.6bn more shares, delists Diamond Bank

This follows the suspension of trading in the shares of Diamond Bank Plc.

EIB to support Africa’s growth capital investments

The fund seeks to contribute to the development of the private sector in North Africa by increasing access to capital for local SMEs and mid-market companies.

CBK window boosts top banks’ profits but tough 2019 signals

The Central Bank of Kenya spared lenders from charging increased loan-loss provisions in their income statements in the first year of the IFRS 9 regime (January 1 to December 31)

Court nullifies Kenya’s tax deal with Mauritius

The continental initiative, which promotes accountable and progressive taxation systems said Kenya failed to subject the tax agreement to the due ratification process in line with the Treaty Making and Ratification Act.

Standard Bank, Founders Factory Africa partner to grow businesses across Africa

Speaking at the recent Business Day TV SME Summit in Johannesburg, Oshry said that a 2017 study on the financing challenges for SMEs revealed that 95% of South African entrepreneurs bootstrapped their businesses.

Foreign buyers of Ugandan securities now invest in treasury bonds

Katarikawe said offshore investors now hold 7 percent in total in Uganda government securities, which translates to 1.8 trillion shillings (493 million U.S. dollars)

Afreximbank Identifies Challenges to Cross Border Investments

Those investments create supply chains back to the home country of the investors. As intra-Africa trade grows, intra-African investments are also rising.”

KCB to revise its buy offer for Imperial Bank assets

KDIC chief executive Mohamud Ahmed said late December that Kenya’s largest bank by assets was at the time conducting due diligence that would pave the way for takeover of the unnamed branches.

Regulation,Tax & Compliance