Managers of Wealth Africa

Businesses respond to new BEE and transformation laws

According to Coovadia, a notable issue relates to measuring complaints and issuing compliance certificates as a licence to do business with the state.

ADF approves $8m to improve banking system in West Africa

“Approval of funding from the bank’s concessional lending window was made on March 29,”

West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone

The new bank identification system will link banking accounts of individuals across different financial service providers.

Bridging The Payment System Gap

With all the inherent positives, still there existed room for expansion in the system to ensure a thriving and competitive payments landscape in Nigeria.

Banks enter full compliance with stricter capital rules

This was meant to buy lenders time to bolster their balance sheets and spare weaker ones from having to immediately raise new funds to comply.

The bright side of the Reserve Bank’s decision to hike rates

Key in the SARB’s decision to keep raising rates has also been the dismal state of the country’s trade balance, which measures the value of exports, less imports.

New visas planned for South Africa

Action on Ramaphosa’s promises is now finally being taken.

SARS is coming after these wealthy taxpayers and businesses

On top of this, SARS collected R14.9 billion from over 65,000 entities, including non-profit and public benefit organisations.

Big changes for work hours in South Africa could be coming

The research tracked working hours in over 50 countries between 1950 and 2017, showing average working hours per employee on an annual basis.

Watch out for these investment scams in South Africa

According to Greeff, even if research raises no red flags, you should still take the necessary steps to verify that the person you are doing business with is legitimate.

South Africa’s big banks to face the music for rand manipulation

All the banks named in the findings lodged some objection or application against the commission

How gold smugglers use top SA banks, bribes to launder money

The documents obtained by the I-Unit include ledgers, contracts and emails showing the process Khan and Rudland used.

Ecobank Ghana and Ghana Post sign MoU to drive government’s financial inclusion agenda

The Ecobank Ghana Managing Director, Mr Dan Sackey, and the Deputy MD of Ghana Post, Kwaku Tabi Amponsah, signed the MoU and witnessed by Dr. Eddy Botchwey and Kwesi Owusu-Abrokwa.

Rand strengthens as all eyes turn to the Reserve Bank

However, a slight positive movement for the domestic currency does not mean it is out of the woods, yet.

Reserve Bank expected to hike interest rates to a 13-year high

The South African Reserve Bank “faces an unenviable conundrum of higher inflation forecasts plus higher risks

KRA flags betting millions paid in cash

The cash transactions have raised a red flag at a time when some punters are paying betting firms using untraceable cryptocurrencies such as bitcoin, making it difficult for KRA to collect taxes.

Rich Kenyans dollar savings grow to Sh320bn amid shortage

The corporate bodies accumulated Sh82 billion in absolute foreign currency deposits in the year compared to Sh51.3 billion in 2021.

Shuttle diplomacy that rescued the shilling

During her vetting before Parliament, Dr Koech had told MPs she would seek to put in place a functional and vibrant interbank forex market if she were approved for the role.

South Africa may look to ban new petrol and diesel cars by 2035 – here’s why

Transport in South Africa is the third-largest emitting sector after energy and the metals sector, contributing about 10% of total emissions, said the report.

Banks raise cash withdrawal limits to reduce queues

According to findings, most DMBs currently pay between N20,000 and N50,000 over-the-counter and Automated Teller Machines.

Regulation,Tax & Compliance