Managers of Wealth Africa

Exposing illicit funds, money laundering through Nigerian BDCs

The Governor noted the astronomical rise of operators from 74 dealers in 2005 to 5,689 in June 2021.

Nigeria needs to clear dollar backlog to avoid further devaluation, analysts say

Clearing unmet demand for dollars would go a long way to helping Nigeria escape from the prospect of a further currency devaluation, analysts and executives say.

Is South Africa a transit hub for dirty money and organised crime?

Ngoni Mangoyi, spoke to The Africa Report in a wide-ranging interview recently, about some of the findings in the mutual evaluation report on South Africa.

Arrear employer contributions | key development for employers and retirement funds

The communication provides that the Adjudicator will conduct investigations going forward, through which the quantum of the debt can be ascertained for the purposes of issuing the order.

Taking Stock of ESG Regulatory Developments in South Africa

This potentially signals a further piece of the ESG Regulatory puzzle – the ability to trace critical sustainability issues in company supply chains.

Ghana and Zambia collaborate to consolidate digital economy gains

This was enacted after a high-level Zambian delegation visited Ghana to study the country’s successes in digital economy.

Why CBK’s climate risk management rules will pay off for Kenya’s banking

In the build-up to COP26, Kenya and other countries have been scaling up their climate actions at the sectoral and national levels.

Treasury announces changes to draft laws that allow pension fund investments in infrastructure

But the proposal will allow retirement funds investments of 45% in South African infrastructure, with an additional 10% in African infrastructure outside of South Africa - bringing the total maximum infrastructure exposure to 55%.

CBN, SEC sanction five banks over forex offence, money laundering

In line with regulatory rules, banks are required to include sanctions and fine imposed on them by regulatory agencies in their audited financial reports.

Four banks complied with order on freezing Benue govt accounts -AMCON tells court

The judge, who gave the order following an ex-parte motion brought by AMCON, also directed that the bank accounts of HPPS Multilink Services Ltd be frozen pending the hearing and the determination of the substantive suit.

South Africa has introduced stricter rules for crypto traders – and it’s causing headaches

“This is not just for the overall good of the economy and the fiscus, but to protect people from the dangers associated with crypto investment.”

Mauritius Exits the grey list of the Financial Action Task Force

Appleby Mauritius in a concerted effort with the various regulators which included amongst others the Attorney General’s Office, The Financial Intelligence Unit, the Financial Services Commission and the Bank of Mauritius actively participated in fu

Nigerian court lifts bank freeze on firms accused of buying crypto

A central bank spokesman did not immediately respond to a request for comment. In February, the central bank barred financial institutions from dealing in or facilitating transactions in cryptocurrencies.

West Africa and the Eco Currency

Efforts by member states to strengthen domestic macroeconomic frameworks reduce the inordinate bureaucratic delays that severely constrain trade must be encouraged.

Carey Olsen advises DPI as it raises one of the largest ever Africa-focused funds at US$900m

All investments will uphold the highest standards of impact and environmental, social and governance (ESG) work.

Leading South African Bank Sends Account Cancellation Notices to Crypto Arbitrage Traders – Finance Bitcoin News

While acknowledging that Shiftly is not a client of the bank, de Villiers however suggests it is curious that Standard Bank — which once rejected his company’s attempt to open an account — maintains a business relationship with its rival

African Development Bank launches consultations on new Strategy for Quality Health Infrastructure

The Covid-19 pandemic exposed serious gaps in African national health systems and overwhelmed capacity to test for and treat the disease.

Banks in defining moment as eNaira kicks off today

Central banks around the world, most notably in China, the United States and the United Kingdom, are actively considering whether to adopt or create their own CBDC.

How a Zimbabwe Tycoon Made a Fortune from a Trafigura Partnership and Spiralling National Debt

Under Mnangagwa’s reign, the businessman came to dominate Zimbabwe’s fuel, platinum, and gold sectors.

FATF removes Mauritius from the list of jurisdictions under increased monitoring

The Mauritius International Financial Centre remains a competitive and attractive jurisdiction and a domicile of choice for structuring investments in Africa and Asia.

Regulation,Tax & Compliance