Managers of Wealth Africa

Financial sector fraud declines to GHS56m in 2022

The report indicated that the fraud cases involving staff decreased to 188 in 2022, as compared to 278 in 2021.

CBN removes saving, withdrawal limits on domiciliary accounts

The statement was titled ‘CBN issues further guidance on operational changes to foreign exchange market’.

Market sentiment rises on CBN forex guidelines rollout

So, President Bola Tinubu’s announcement of plans to unify the country’s forex rates during his inaugural speech sent the financial market into a frenzy.

Currency floating: Private sector, economists back CBN as naira falls to 664/$

The CBN’s decision to float the currency was hailed by the organised private sector and economists who said the move would unify the country’s multiple exchange rate and bring sanitise the FX market

New finance laws for South Africa – changing pensions and targeting auditors

In broad terms, the bill aims to amend various other pieces of legislation related to pensions, the Land Bank, the auditing profession and the Financial Commission.

Why the promise of a cashless society is key to unlocking the Nigerian commerce growth opportunity

Along with Sweden and India, Nigeria has moved ahead of other countries in its efforts to reduce the reliance on cash

FG to release practice code for ChatGPT, others

Nigeria cannot adopt the EU and US codes of conduct due to our peculiar situation. But we can leverage on theirs to perfect ours to suit our situation.

Nigeria regulator says local Binance operations 'illegal'

The U.S. Securities and Exchange Commission this week sued Binance and Coinbase for allegedly breaching its rules

Government setting up new state-owned company for businesses in South Africa

Specifically, the bill enables the minister to declare certain practices in relation to small enterprises to be prohibited as unfair trading practices and to make regulations regarding them.

ECB eyes next rate hike

ECB President Christine Lagarde said earlier this month rates were getting “closer to our cruising altitude”, but “we need to continue climbing”.

Ethiopia sees its spending, GDP growth rising in 2023/24

The East African country's budget deficit is expected to be 281.05 billion birr in the coming year

Rand finally finds some support – but isn’t out of the woods yet

Bloomberg analysts noted that a smaller than expected deficit in the country’s current account is also giving the rand a boost.

KRA given Sh1.2bn to hire spies in hunt for tax cheats

The committee has inflated the budget by Sh81 billion on the expenditure plan the Treasury tabled in Parliament to Sh3.67 trillion, putting extra pressure on the KRA.

Deadline for South Africa’s strict new BEE rules draws near

The amended Employment Equity Act was assented to by President Cyril Ramaphosa on 14 April 2023.

UAE, Egypt ink deal to develop Africa’s largest wind farm, project valued at $10bn

The wind farm will help Egypt meet its strategic objective of sourcing 42 per cent of its energy from renewables by 2030

IMF sends a warning to South Africa

Headline inflation has risen above the South African Reserve Bank’s (SARB’s) 3% to 6% target range amid higher food and energy prices.

CBK allows interest-free Lipa na M-Pesa loans plan

The product was set for launch on July 6 last year before the lapse of a September deadline that required the digital lenders to get a CBK permit for operation.

Firms stockpile supplies ahead of Finance Bill vote

“Inventories of inputs continued to grow modestly, as firms looked to keep unused items in case of further price rises and supply shortages,”

Government finalising big change for businesses in South Africa

The Bill also aims to ensure stronger governance on excessive director pay and enhanced transparency on ownership and financial records, the minister previously said.

Warning over bank reversals in South Africa

The Ombud also stressed that the complaint would still not be eligible for a reversal if they paid via a card transaction, as the liquidator would still have to deal with the matter.

Regulation,Tax & Compliance