Managers of Wealth Africa

Nairobi to send home 700 NMS employees

The staffers signed a three-year contract with NMS in 2021 which technically means that they have been relieved before the expiry of their tenure.

Digital lenders, telcos, brewers lose tax fight against new excise duty

The petitioners had challenged the Act, arguing that it was enacted amid a court order, that it would subject importers of taxable services to double taxation and that there was no public participation in violation of the constitution.

Ramaphosa’s state of disaster

The removal of the cap was only implemented when the regulation change was gazetted in December 2022.

African Development Bank approves $50 million and EUR 50 million Trade Finance Transaction Line of Credit for ECOWAS Bank

The ultimate beneficiaries will be Small and Medium-sized Enterprises(SMEs), local enterprises cooperatives and farmers in the West Africa region.

Kenya central bank holds its benchmark lending rate at 8.75%

The move bucks the trend among major African central banks who have maintained a tightening stance into this year

The Robustness Of FirstBank’s Dollar Remittances Drive Towards Achieving UN’s SDGs

The good news of an individual having a visa to travel abroad for a better life is usually received with excitement as family members and loved ones at home are filled with optimism that their lives will be better.

January 31 Deadline: Banks Work Saturday, Sunday as Nigerians Rush to Return Old Naira Notes

They hinged their displeasure and call for extension on the fact that the apex bank couldn’t make available the redesigned notes sufficiently available.

Private sector urged to “own and drive” Africa’s continental trade agreement

ECA estimates that by 2045 intra-African, trade in agri-food, industry, and services sectors will increase by nearly 35% compared to a situation without the AfCFTA.

The Reserve Bank is not pulling its punches

The rate of price growth has breached the 6% upper limit of its target for seven straight months and is only seen firmly back at the midpoint from the second half of 2024.

IMF Staff Concludes Governance Diagnostic for The Gambia

The diagnostic provides an opportunity to carry out a detailed assessment of the severity of corruption, assessing governance weaknesses in key state functions, and to propose options to address those vulnerabilities.

Reserve Bank hikes rates by 25 basis points

The move was broadly in line with market expectations, with analysts and economists anticipating a 25bp or 50bp hike.

Nigeria's Islamic finance industry continues to grow despite headwinds: Fitch

Overall Nigerian banking sector outlook is 'deteriorating', says report

Parliament stops banks from asking clients sources of cash deposits

Moneyed individuals and businesses have for long protested the onerous checks, arguing they have hindered their ability to carry out smooth transactions.

Kenya’s benchmark rates to rise to 9.5% by year-end

Analyst expects central bank to keep hikes at nearly 0.25 percentage points per review

New Bill eliminates Parliament’s nod in sale of parastatals

The report is reviewed by a parliamentary committee before its tabling in the National Assembly for approval.

Deadline for property owners in Cape Town – what you need to know

“This will ensure that the values determined by the city of Cape Town reflect a reasonable market value of your property,” he added.

Massive win for solar users in Cape Town

With the exemption in tow, businesses – and in time, residents – will now soon be able to receive cash for selling their excess power into Cape Town’s grid, the city said.

Ghana grants banks extension for reports filing

The Ghana Association of Bankers had indicated that their discussions on the Government of Ghana Debt Exchange programme currently ongoing, had affected the finalisation of financial statements for the year ended December 31, 2022, by external auditors of

Banks battle new naira shortage ahead deadline

Despite the apex bank and depositing banks’ assurances that Nigerians would begin to receive the new naira notes from ATMs across different platforms, findings as of Sunday showed that many ATMs belonging to the financial institutions were dispensin

De La Rue sheds 300 Nairobi jobs, fights Sh1bn KRA judgment

While Kenya has struggled to retain and attract multinational manufacturers, it has recently become a magnet for technology firms and financial service companies seeking a hub for a larger share of the African market.

Regulation,Tax & Compliance