Managers of Wealth Africa

South African court clarifies compliance requirements for lawful tenders

The ruling cautions unsuccessful bidders against relying on court decisions that concern immaterial and trivial failures of non-compliance

EY Kenya reputation at risk after World Bank sanction

The sanctions dent EY Kenya’s reputation because potential clients or even partners may keep off for fear of association with a tainted firm.

Standard Chartered announces dividend payout amid strong 2023 performance

The Bank delivered strong results – returning to profitability and improved returns alongside balance sheet growth and positive momentum across key metrics.

FSCA approves 138 crypto providers, tightens regulations

Institutions that have been rejected or have withdrawn may reapply.

Changes for financial complaints in South Africa

The rule changes broadly relate to advice-related complaints, which may impact banks and insurers where these advisors are employed.

Pension complaints and solutions

The company did not pay me and did not give me any explanation to that effect.

CBN warns of fintech’s risk to financial stability

These fintech firms, which offer a range of applications, software, and other technologies to streamline mobile and online banking, are often regulated

Standards regulator’s process ‘tainted by bias’ – high court

NCRS appointed company that lodged a complaint to test the brake pads of one of its competitors for compliance.

Banxso’s link to the Banc de Binary scam

Trading platform owner is benefitting from deep fake ads linked to the historic international binary options scheme.

African Development Bank Seeks Japan’s Help for Climate Projects in Africa

African Development Bank meets Japanese officials to discuss infrastructure, climate change, and investment in African energy and green tech.

CBN reforms boost diaspora remittances by $172m in a month

The Acting Director of Corporate Communications at the CBN, Sidi Ali, emphasised the bank’s commitment to facilitating smoother remittance transactions.

The province in South Africa on the verge of having more people unemployed than working

Businesses in South Africa need to update their policies

While the 2018 Prince judgment saw the Constitutional Court decriminalise the private use of cannabis by adults in South Africa, which led to increased private cannabis use.

More intervention could follow from proposed South African construction regulation changes

The Bill also aims to provide for the registration of construction professionals, such as architects, engineers and surveyors.

FG seeks 18-month extension for $800m W’Bank palliative scheme

The World Bank revealed this in its restructuring paper on how to bolster its social safety net programmes amidst rising inflation and economic challenges.

SARS warns taxpayers to check their bank details

Taxpayers who do not agree with their auto-assessments will have to file a tax return manually.

Rand hits under R18 to the dollar

According to Investec chief economist Annabel Bishop, the rand’s strength comes following high degrees of volatility ahead of and during the elections

BADEA announces an innovative and sustainable financing model in capital increase to ShafDB

The Arab Bank for Economic Development in Africa (BADEA) has announced a sustainable funding program aimed at assisting Shelter Afrique Development Bank (ShafDB) shareholders in paying their capital arrears.

The ‘special tax’ that could cut petrol prices to under R15 a litre in South Africa

South Africa’s fuel prices are heavily influenced by international factors

UBA fined N8m for violation of customer’s data privacy

The matter was funded by Paradigm Initiative (PIN) through its digital rights reporting platform, Ripoti.

Regulation,Tax & Compliance