Managers of Wealth Africa

Treasury simplifies tax amnesty draft

The amnesty comes ahead of the implementation in September 2017 of a new global agreement

Changes to special voluntary disclosure programme proposed

This initiative will make it much more difficult for taxpayers to hide assets in offshore jurisdictions.

Kenya: Njoroge Orders Banks to Disclose Top Shareholders On Websites

The directive is expected to lift the corporate veil on banks that have over the years kept their ownership closely guarded.

Moroccan parliament gives final approval to pension reform bill

The Moroccan monarchy mixed institutional reforms, heavy spending and tough security to stifle the wave in 2011

Bank of Ghana Allows Banks To Lend Above Permitted Ceiling

The move which is seen as contradiction to some financial regulations is partially blamed for the high level of debt being recorded in the energy sector where the Volta River Authority is indebted to 13 local banks to the tune of GHS4.4 billion.

Payment banks: A mobile wallet is a depreciating currency

RBI could have taken measures to legitimise and rationalise the operations of existing players

BoG tightens surveillance to ‘whip’ unlicensed investment clubs

They will be also required to provide detail information regarding their loan arrangements for scrutiny by the bank.

New financial bill to consolidate rural banks, microfinance companies

Presently, minimum capital requirement is 120 million cedis and 15 million cedis for universal banks and savings and loan companies respectively.

South Africa’s FSB Warns Against RBOptions

The financial watchdog in South Africa says the broker is unauthorized to offer its services to local residents.

The African Development Bank And The African Securities Exchanges Association Sign Memorandum Of Understanding To Join Forces To Develop Africa’s Capital Markets

The maiden project to be undertaken under this cooperation initiative will be the African Exchanges Linkage Project.

We welcome banking regulatory changes - Phil Mnisi

Where CBS said banks in Swaziland were no longer expected to charge service fees for cash deposits for any product or type of account effective from July 1, 2016.

Guptas lobby Zuma to stop law on wealth of politically connected

The bill comes as the government tightens the screws on corruption and money laundering.

Ghana Home Loans gets banking license

The programme will allow Ghana Home Loans access 380 million cedis from the domestic market.

S. African Central Bank Champions Choice For Welfare Banking

A contract awarded by the South African Social Security Agency to Johannesburg-based Net 1 UEPS Technologies Inc. to pay grants electronically in 2012 has this year been dogged by court battles and criminal charges.

Nigeria Monitoring ‘One Or Two’ Lenders After Skye Bank’s Capital Problem

The central bank on Monday said Skye Bank’s liquidity ratio has been below the regulatory limit for a while and it had resorted to its rediscount window for support, prompting its top executives to resign.

Proposed amendments to the JSE Debt Listings Requirements

The proposed amendments are open for public comment until 15 July 2016.

Nigeria's Central Bank takes over Skye Bank, customers panic

The announcement by the CBN created near panic as clients of the bank trooped to branches to withdraw their savings for fear of losing their monies.

Moroccan central bank to issue approval for Islamic banking

Islamic banks and insurers are setting up in Morocco after it adopted legislation allowing them into the domestic market.

Kenya: KPMG to Set Up a Regional Fraud Intelligence Unit

The firm, which launched the East Africa Fraud Risk Survey last year, has been rooting for a regional database and intelligence communities to fight the vice.

India and Cyprus new tax treaty: Mauritius still remains jurisdiction of choice for debt structuring

The Mauritius transitional period (1st April 2017 to 31st March 2019) allows for the sharing of taxing rights between India and Mauritius

Regulation,Tax & Compliance