Managers of Wealth Africa

FG begins new expatriate job policy, violators risk N3m fine

The Expatriate Employment Levy is a financial contribution imposed on employers who hire foreign workers.

Africa needs effective policies and infrastructure to prosper from artificial intelligence, experts say

Artificial intelligence, a fast-evolving technology that taps the intelligence of machines or software is transforming all social spheres globally.

Africa Specialty Risks doubles parametric capability

The parametric approach to reinsurance championed by ASR facilitates the flow of capital to support vulnerable populations.

EBRD approves membership of Ghana and Senegal

The two countries will have to meet some final pre-membership requirements before the process is concluded.

Official FX rate exceeds parallel marketas Naira appreciates to N1,595/$

Government officials have consistently maintained that the naira is currently undervalued.

Commonwealth, African Union renew call for reform of Global Financial System

As far back as 2018, the Commonwealth said that it’s not fit for purpose.

Economists see shilling slide past 160, high prices

Easing of default fears coupled with a surprise rise of base interest rates payment has served to raise confidence in Kenya’s asset classes such as bonds

AG advises KRA to stop collecting contentious housing tax

The KRA Commissioner-General had in a February 12,2024 letter sought guidance from the AG on the government’s position on the controversial levy.

Bank of Ghana Raises Mobile Money Limits: New Era for Fintech, Effective March 2024

Accounts has seen an uplift.

Nigeria's central bank hikes benchmark rate to 22.75%

Cardoso told a news conference that all members of the 12-member Monetary Policy Committee (MPC) participated in the first rate decision

CMA to drop troubled firms from Kenyan stock market

Failure to recover within this period would eventually lead to delisting of such companies from the exchange.

What Kenya stands to lose from its inclusion in financial crimes grey list

The FATF also noted the overall ineffectiveness of Kenya’s response to money laundering and economic crimes, primarily the failure to prosecute cases effectively.

Kenya Power gets nod to charge consumers in US dollars

The utility recorded a 31 percent jump in revenues to Sh113.55 billion, up from Sh86.66 billion.

Auditor flags Sh170bn KQ, KPA, KenGen loans

Of the Sh170 billion, Kenya Airways owes Sh88 billion, KPA (Sh79 billion) while KenGen owes Sh2.5 billion.

Warning over tax deadlines hitting this week

Non-provisional taxpayers closed out their tax affairs in October last year, with the new tax season expected to open later in 2024.

The strict parameters to securing eviction orders in South Africa

Recent legal cases and interpretations shed light on the complexities within this legal framework

BoG Partners With Development Bank Ghana To Study Innovative Financing For MSMEs

The ongoing reforms within the banking sector aim to create stable and profitable institutions capable of supporting the real sector and increasing lending.

Banks sell $172m as CBN, EFCC battle currency speculators

Banks sale of approximately $172m on Wednesday represents about 47 per cent increase from the $117m sold on Tuesday.

Access to beneficial ownership information in Kenya: Private companies

To operationalise this requirement, the Attorney General published the Companies (Beneficial Ownership Information) Regulations on 18 February 2020

Non-Remittance: EcoBank, Access Bank, two others grilled by HoR over N11.632trn revenue collections

According to the records, “Access Bank collected a total sum of N2.661 trillion for 3,502,486 transactions between 2015 and 2022.

Regulation,Tax & Compliance