Managers of Wealth Africa

New pensioner rule changes planned for South Africa

Under the current regulations, a person is considered an ‘older person’ from 65 as a man and from 60 as a woman.

Wema Bank Debunks Money Laundering, Bribery Claims

The publication went ahead to mention the names of certain Wema Bank management staff to be allegedly involved in the said transaction.

StanChart spends Sh214m on retrenchment of staff

Stanchart’s staff costs declined to Sh6.5 billion in the year ended December from Sh7.8 billion a year earlier as it benefitted from the cumulative cost cuts.

Development Bank Disburses N482bn to Boost MSMEs

The bank’s total assets also increased by 1.4 per cent from N492.3 billion in 2020 to N499.2 billion in 2021.

Beneficial ownership transparency: how to fix a serious secrecy loophole in the automatic exchange system

This loophole works because the beneficial owner of an account is not always reported under the OECD’s standard (CRS) and is never reported by the US under the inter-governmental agreements (IGAs) related to the Foreign Account Tax Compliance Act (F

Kenya eyes $244m budget support from IMF

Kenya will access $244 million, bringing the total IMF support in a 38-month financing facility to $1.17 billion under the Extended Fund Facility (EFF) and Extended Credit facility (ECF).

Trends in African Arbitration

Combined caseloads from the International Centre for Settlement of Investment Disputes (ICSID) that involve at least one party from a sub-Saharan African state have also risen, nearly tripling.

Making tax dispute resolution more effective: New peer review assessments for Andorra, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Faroe Islands, Macau (China), Morocco and Tunisia

Andorra, Macau (China) and Tunisia ensure that MAP agreements can always be implemented notwithstanding domestic time limits.

Your World in Jersey: Reasons why many South Africans are moving to the Island

There are historical links between Jersey and South Africa, too.

South Africa Reserve Bank Governor Advises Regulators to Evolve with the Financial Markets

Project Khokha 1 examined the use of blockchain for interbank settlements by successfully replicating some functions of the South African real-time gross settlement (RTGS) system on blockchain.

Wema Bank Debunks Money Laundering, Bribery Story

The Bank has already engaged its solicitors to institute appropriate l0egal action.

Fed Ends Consultation With Kraken, Custodia Nearing Access to Payment Rails

Financial institutions interested in obtaining payment services including ACH, cash, check and wires can open an account or receive services from the Federal Reserve.

Uganda ready to host East African Central Bank

She hailed Acting Commissioner for Economic Development Joseph Enyimu for his presentation, that hall all the elements often missing when our economic ambassador address audiences abroad.

Absa charges policymakers to sustain growth in pension sector

She dissected the pension industries and shared strategies necessary for improving the business of pension in the domestic market.

CBN Fines 10 Banks

The CBN by regulation forces banks to retain up to 27.5 per cent of their deposits in CRR requirement, meaning that the deposits are not accessed by the banks for loans and advances.

Treasury allocates NMS Sh14 billion to operate until 2023

The Treasury previously slashed the budget for the NMS in the current financial year signalling an end of the short tenure of the entity.

Nairobi Financial Centre firms to pay Sh1m fee

The publication of the regulations to back the agency’s operations and the setting up of its board last year set the stage for its formal launch

SARS must also follow the Rules of the tax dispute resolution process

The court then explored what the standard was to be applied in determining an application for condonation and stated that it is settled law that the standard to be applied is what is in the interests of justice which is “a wide and elastic concept&a

Development Bank, DLM Capital Gets Approval to Acquire Links Microfinance Bank

This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs

Cape Town wants wider roads and flexible work hours to help cut down on traffic

Congestion on Cape Town roads is costly for the economy and commuters in terms of both time and money.

Regulation,Tax & Compliance