Managers of Wealth Africa

CMA to drop troubled firms from Kenyan stock market

Failure to recover within this period would eventually lead to delisting of such companies from the exchange.

What Kenya stands to lose from its inclusion in financial crimes grey list

The FATF also noted the overall ineffectiveness of Kenya’s response to money laundering and economic crimes, primarily the failure to prosecute cases effectively.

Kenya Power gets nod to charge consumers in US dollars

The utility recorded a 31 percent jump in revenues to Sh113.55 billion, up from Sh86.66 billion.

Auditor flags Sh170bn KQ, KPA, KenGen loans

Of the Sh170 billion, Kenya Airways owes Sh88 billion, KPA (Sh79 billion) while KenGen owes Sh2.5 billion.

Warning over tax deadlines hitting this week

Non-provisional taxpayers closed out their tax affairs in October last year, with the new tax season expected to open later in 2024.

The strict parameters to securing eviction orders in South Africa

Recent legal cases and interpretations shed light on the complexities within this legal framework

BoG Partners With Development Bank Ghana To Study Innovative Financing For MSMEs

The ongoing reforms within the banking sector aim to create stable and profitable institutions capable of supporting the real sector and increasing lending.

Banks sell $172m as CBN, EFCC battle currency speculators

Banks sale of approximately $172m on Wednesday represents about 47 per cent increase from the $117m sold on Tuesday.

Access to beneficial ownership information in Kenya: Private companies

To operationalise this requirement, the Attorney General published the Companies (Beneficial Ownership Information) Regulations on 18 February 2020

Non-Remittance: EcoBank, Access Bank, two others grilled by HoR over N11.632trn revenue collections

According to the records, “Access Bank collected a total sum of N2.661 trillion for 3,502,486 transactions between 2015 and 2022.

4 new bills passed by parliament – with big changes for pensions in South Africa

The Revenue Laws Amendment Bill aims to change the retirement fund system in South Africa, particularly with the introduction of a two-pot retirement system.

Central Bank Hosts Inaugural Monetary Policy Strategy Session

The Monetary Policy Strategy Session provided a platform for robust discussions on the past, present, and future of monetary policy in Namibia.

Gauteng plots its move away from Eskom

“We will continue to expand to 300MW in the new financial year,” said Lesufi.

Tough CMA terms for bond issuers

The minimum size of the bond issue shall be fixed at Sh400 million, with the minimum subscription set at Sh10,000 or such higher amount as the regulator may prescribe from time to time.

State-owned bank a step closer after Ramaphosa signs Postbank Amendment Act

In the context of South Africa, this includes reaching those segments of society who are historically excluded from the formal financial sector as well as those who underutilise financial products and services.

BoG introduces additional measures to tame inflation

Inflation continue to decline and currently at 35.2 per cent after peaking at 54.2 per cent in last year December.

Fidelity Bank extends employment contract of its GMD/CEO, Onyeali-Ikpe

The Board noted that it is confident that the Bank’s performance will continue its upward trajectory under Dr. Nneka Onyeali-Ikpe’s leadership

Kenya moves to regulate Bitcoin trade on grey listing risk

The platforms allow traders to transact directly with one another without the need for a centralised third party to facilitate the transactions.

New policy signals higher charges for public services

In the first six months of this fiscal year, the National Treasury received Sh224.6 billion in non-tax revenues

30% of Africa’s sovereign reserves should be invested locally – Akufo-Addo

He pointed out that virtually all the countries held their reserves in foreign banks, which attracted largely negative rates of interest.

Regulation,Tax & Compliance