Managers of Wealth Africa

Reserve Bank governor again slams Public Protector in speech on central bank independence

The report found that Absa had to pay back R1.25bn in the co-called Bankorp bailout matter.

Kganyago again slams Public Protector in speech on central bank independence

But included in the remedial action was also an order that the Constitution be changed to alter the Reserve Bank’s mandate — with the Public Protector even providing the text for the updated section.

China Merchants in Talks to Replace Ousted Djibouti-Bank Partner

IZP Group’s Globebill Technology Co. was among third-party payment companies fined by China’s foreign-exchange regulator for violating rules on cross-border payments, Beijing-based Caixin Global reported in February.

Will Kenya’s Central Bank Governor rescue Spire Bank?

It is now struggling with critical capital and liquidity deficiencies, even as it seeks capital injections from its shareholders and an unnamed strategic investor.

Why CBK has powers to fight money laundering

Under the Anti-money Laundering and Counter Financing of Terrorism (AML/CFT) law, the reporting of cash transactions is a key control in the detection and prevention of money laundering

AfDB moves to quicken Africa free trade area implementation

AfDB said this will be done with a regime of reduced tariffs and non-tariff barriers to cut the cost of doing business on the continent.

African soccer whistleblower fired after accusing boss of corruption

The document, sent on March 31 by Fahmy to a FIFA body that investigates alleged ethics breaches and seen by Reuters, accuses Ahmad of ordering his secretary-general to pay $20,000 bribes into accounts of African soccer association presidents.

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.

Regulation,Tax & Compliance