Managers of Wealth Africa

Lifestyle audits for South Africa’s millionaire ministers – Ramaphosa has nothing to say

Although Ramaphosa previously said that lifestyle audits could be a key tool in tackling corruption, the process is yet to find anything of note.

Multiple taxation: Tinubu panel asks govt to drop 190 taxes, OPS blames states

Specifically, the telecommunication operators complained that the sector was one of the most taxed in the country with over 40 taxes directed at telecom firms.

Tribunal orders MTN to pay $72.5m fine to FIRS

Other members of the panel were P. A. Olayemi, Babatunde Sobamowo, Samuel N. Ohwerhoye and Terzungwe Gbakighir.

Struggling microfinance banks in Kenya raises some economic concerns

Microfinance banks have been drifting into the loss-making territory between 2016 and 2022

MPs plan new entity to regulate bank loans

Others are the Financial Sector Ombudsman and the Financial Sector Tribunal.

UBA joins PCAF to boost carbon accounting

He pointed out that UBA is the only bank from West Africa on the global core team, emphasising the bank’s alignment with PCAF standards.

Hidden Debts: Mozambican Government Paid Out $130M Total in Out-of-Court Settlement

The payments envisaged by the out-of-court settlement to the other financial institutions that entered into the Prodindicus syndicated loan

South Africa’s new pension system – ‘the lesser of two evils’

“South Africans are expected to dip into those accessible pots in significant numbers, accessing up to one-third of their available future retirement savings post the 1 March effective date.”

Africa Can Figure Out Their Climate Policy, Tshabalala Says

The comments from Africa’s biggest bank come amid protests by climate activists over the environmental damage that could be caused by the construction of the $4 billion East African Crude Oil Pipeline

Nigeria, EU sign over €900m agreements for developmental projects

The agreements were signed at the EU-Nigeria Strategic Dialogue in Abuja.

KRA nets Sh3.4bn revenue from tax amnesty scheme

The Finance Act 2023 introduced a tax amnesty for interest and penalties on tax debt by inserting Section 37E into the Tax Procedures Act 2015. The amnesty took effect on September 1.

N35,000 wage award: Labour gives govs ultimatum, 61 million Nigerians to get N1tn

Each household will receive N25,000 for three months.

Banks tap Sh54bn CBK liquidity support loans on cash crisis

A 49.7 percent liquidity ratio is more than double the minimum statutory level of 20 percent and the use of the support facility points to a skewed distribution of liquidity in the sector.

2024: FG plans N26tn budget, debt servicing to gulp N8.25tn

The PUNCH also observed that the government would spend more on debt servicing than it would spend on paying the salaries and pensions of its workers.

African Development Bank Group Chief Economist Kevin Chika Urama urges Nordic and Irish entrepreneurs to make Africa their business and investment destination

Denmark’s imports from Africa represent only 0.1% of Africa’s total exports between 2018 and 2022.

Regulation,Tax & Compliance