Managers of Wealth Africa

Sanlam Life and Fedgroup Life fined for weaknesses in money laundering prevention measures

Fedgroup Life appealed the amount of the initial fine, which was R750 000, and it was subsequently reduced. It did not dispute its non-compliance.

‘Beneficial ownership register vital in anti-corruption campaign’

“Since January 3, the CAC has deployed an electronic register that covers all aspects of our registration services, and this includes the disclosure of beneficial owners.”

Mauritius Finance collaborates with internationally recognised bodies for training initiatives

This will bring foreign expertise to Mauritius to transfer knowledge to our youth, he added.

Sovereign Wealth Funds: a detailed analysis of transnational regulation and dispute resolution

SWFs are located worldwide. The 20 largest SWFs (as at 22 August 2021) are spread across the Middle East, Asia, Europe, North America and Australia.

Africa Wants Permanent Financial Mechanism Against Global Crises

To get around these difficulties, especially when the competition is against richer and more powerful countries, Strive Masiyiwa says the solution was to “implement production capacity in Africa for Africa”.

Sustainable evolution post FATF

As we have gone past the halfway mark of 2021, all eyes are focused on the upcoming next step in Mauritius coming off the Financial Action Task Force (FATF) list of Jurisdictions under Increased Monitoring (the ‘Grey List’).

Corrupt Oil Trader Turns On Colleagues in Massive Africa Bribe Case

A London-based trader funneled millions of dollars to African officials. When he was caught, he talked.

New ‘Brazilian grant’ and basic income being considered for South Africa: Treasury

The study is expected to be completed in the next week, while the presidency is currently working on its own anti-poverty plans.

Rich Nations Head to South Africa Seeking Coal Exit Deal

Eskom alone accounts for more than 40% of South Africa’s emissions.

BMW, JPMorgan urge UK to ease Covid-19 limits on Southern Africa

"As Britain looks to develop new trading relationships around the world, we would urge you to reassess the restrictions placed on southern Africa"

Non-performing loans declining but remain above benchmark – CBN

“The banking sector itself remains stable and resilient, with strong liquidity and capital adequacy ratios."

FSCA warns public against 'billionaires' club' director Mandla Lamba

The FSCA also warned that Lamba himself is not authorised to offer advice or these services.

FCMB Boss Charges SMEs to Adopt Corporate Governance Practices

She made it clear that micro-businesses also require the same to achieve optimum performance and sustainable growth.

Mauritius tax update: The MRA issues a Statement of Practice on Trusts and Foundations

Read our latest briefing note on the Statement of Practice recently issued on Trusts and Foundations in response to amendments brought by the Finance (Miscellaneous Provisions) Act 2021 to the Income Tax Act 1995.

How Digitisation Can Lead to Real Change in Africa’s Competition Laws

As a result, competition authorities are increasingly presenting novel theories of anticompetitive harm

Navigating South Africa’s Highly Regulated Investment Environment

Finance Minister Tito Mboweni has had cause to warn the public against unregulated offshore forex brokers operating in South Africa.

New code to guide CRB listings by digital lenders

Under amendments to the Central Bank Act which is currently under consideration of the National Assembly, digital lenders are set to be ushered back to credit information sharing which will allow parties to access and list borrowers with Credit Reference

Regulation,Tax & Compliance