Managers of Wealth Africa

Mauritius makes key amendments to its Securities Act

On 31 July 2021, Mauritius published the Securities (Amendment) Act 2021, which brought about several key changes to the Securities Act 2005.

S. Africa’s ANC Raises Alarm Over Deputy President’s Health: FT

The party’s National Working Committee discussed Mabuza’s prolonged absence once he returned to South Africa

RBZ negotiates US$150m African bank deal

The move, explained Dr Mangudya, has reduced the country’s repayment burden and unlocked capacity to avail more resources for balance of payments support to the economy.

Butterfield closes banking unit in Mauritius and transfers to Guernsey

Among the factors stated for the decrease were redundancy costs associated with the transfer of Channel Islands banking operations from Mauritius to Butterfield's service centre in Canada and Guernsey.

Mauritius: National Payment Systems Regulations - Key Features

The Regulations are being issued two years after the promulgation of the National Payment Systems Act 2018 (NPS Act) in January 2019.

Carrick CEO fined over previous role at deVere South Africa

He has been ordered to pay ZAR 800,000

Investec has not made an unconditional commitment to fund Karpowership, says CEO

Investec has previously funded Karpowership in other countries in Africa. But Titi said the guarantee that the bank gave the company for the SA bid was simply a banking product that Investec provides "in the ordinary course of business".

Government taking steps towards basic income grant for South Africa: minister

Caregivers who are not receiving any grant on their own behalf will also have to apply for the special Covid-19 Social Relief of Distress Grant.

Crypto players form association to handle bad actors, regulations

"The occurrence and subsequent reporting of which not only damages the reputation of the sector as a whole but also has a dramatic effect on investor confidence and ultimately discourages further adoption of crypto assets and related products and ser

South Africa’s AI patent approval could trigger innovation and abuse

South Africa has approved the first patent that identifies an AI as its inventor. It could unlock a new era of invention – and of intellectual property abuses.

Revised Mauritius–Lesotho Double Taxation Avoidance Agreement comes into force

The provisions of the DTAA are therefore applicable in Mauritius as from 1 July 2021.

Treasury may allow pension withdrawals before retirement under 'very specific circumstances'

"We are working with it, there [are] lots of complexities, and if we do not watch it there will be a rush to the door and we will create liquidity problems," said Momoniat.

Isabel dos Santos ordered to return to Angola $500 million in shares ‘tainted by illegality’

An international tribunal ruled that the billionaire and her late husband corruptly obtained a lucrative stake from the state oil company Sonangol.

Mboweni pushes for stronger transformation laws in South Africa’s banking and finance sector

“For such reasons, National Treasury has adopted a multi-pronged approach to transformation that seeks to enhance market conduct, market development and financial inclusion.”

African Diaspora Central Bank to invest $9 billion in electric vehicle startup

Mandrolli was birthed in the Eastern Cape, where Premier Oscar Mabuyane has agreed to support the initiative to the fullest.

Out of control and rising: why bitcoin has Nigeria’s government in a panic

As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?

Regulator seeks law changes to subdue emerging market risks

These changes are targeted at private markets which include private equities, crowdfunding and venture capital type of investments.

Surprise tax boost for South Africa

While this windfall is set to help pay for the government’s recently announced Covid-19 and looting support, concerns lie beyond the current fiscal year.

Ghana Vice President Praises Central Bank's CBDC Initiative, Says Digital Currencies Can Boost Intra-African Trade

He said the Ghanaian government is ready to “give it the needed credibility and legal backing for usage.

High borrowing starves businesses of funds - BoG

The central bank added that while the banking sector had remained solvent, liquid, profitable and well-capitalised, its ability to support private sector growth and the economic recovery agenda drive in 2021 had weakened due to a moderation in credit disb

Regulation,Tax & Compliance