Managers of Wealth Africa

Devaluation: External reserves fall $1.65bn in six months

In July, the bank noted that accretion to external reserves remained weak while foreign exchange demand pressures persisted.

South Africa scores another major own-goal for the rand

The rand remains at the bottom of the EM currency ranked by Bloomberg, with the majority having strengthened on the year out of the twenty-two currencies.

EFCC arraigns bizman for alleged N105m fraud

The prosecutor alleged that the defendant falsely claimed to have the dollar equivalent of the amount to change for the business organisation, First Right Enterprises.

Switzerland and Angola sign double taxation agreement

The DTA allows the Swiss network of double taxation agreements to be expanded into Southern Africa.

Reserve Bank has a plan for total grid collapse in South Africa

This essentially means the central bank is continuing its work on its contingency plans to ensure the country’s payments system remains in operation in the event the nation’s electricity grid collapses.

Zenith Bank, CFA Institute ink MoU on capacity building

Speaking at the MoU-signing ceremony, Onyeagwu commended the CFA Institute and the CFA Society, Nigeria for their laudable programmes in developing finance and investment professionals in Nigeria.

Nigeria's Tinubu: 2024 budget deficit seen falling to 3.9%/GDP

Tinubu added in his first budget speech to lawmakers

NHI moving closer to becoming law in South Africa

Private insurers will only be able to pay for products and services that aren’t covered by the fund.

Key takeaways from the CBN Governor's speech at the CIBN's Annual Bankers' Dinner

The Governor’s speech revealed the direction and approach the apex bank would tow in discharging its functions under his leadership.

Stage 6 load shedding gut punches South Africa

This was exacerbated by a risk-off environment in markets, which saw foreigners being net sellers of South African bonds and negative sentiment towards the country’s structural and policy issues.

CEOs’ woes as regulations cause headache

The number of CEOs worried about the risk posed by growing regulations on revenues of companies has more than doubled over 12 months

High Court grants Ghana Revenue Authority power to recover GH¢179.4m

The court, comprising Justices Mrs Janapare A. Bartels-Kodwo, Alex Poku-Acheampong, and Jerome Noble-Nkrumah, delivered the judgment in response to an appeal filed by Maersk Drillship IV Singapore.

Bank of Ghana maintains policy rate at 30%

The Governor said Central Banks were expected to maintain policy rates at high levels for much longer periods to contain the still-elevated inflation levels relative to targets.

Guernsey's comprehensive life insurance offerings for South African institutions 

These are international insurance wrappers assisting policy holders with, amongst other things, inheritance tax and succession planning.

Rand manipulation: Treasury sets the record straight

The alleged misconduct by the banks involved a handful of traders, who, between 2007 and 2013, assisted each other on risk positions instead of following normal trading patterns on the market.

Relief for South Africa as Reserve Bank holds interest rates

While a hold was widely expected, shock inflation numbers on Wednesday did let some doubt creep in among analysts, particularly with narrow votes to hold emanating from the previous two meetings.

Shilling free fall slows after CBK reins in banks

The Kenya shilling could finally be finding a new footing after it slowed down its monthly free fall to one percent so far in November from the 4.3 percent in March

Stepping up money laundering war

ESAAMLG recently conducted its second round of the Kenya mutual evaluation and released its report in September 2022.

State pensioners’ register marked for clean-up

The Pensions Department has engaged the Civil Registration Department culminating in the formal request for all registered deaths in the last 20 years

KenGen slaps Kenya Power with Sh364m fine

Kenya Power and KenGen are both majority-owned by the government, with the companies seen as strategic national assets in the energy sector.

Regulation,Tax & Compliance