Managers of Wealth Africa

Banks’ Impairment Charges Soar by 113% to N228bn

Besides, the World Bank has sustained pressure on the federal government on the need to remove all forms of subsidy on petrol and electricity supply and to harmonise the forex rate.

SEC clamps down on firms dealing in illegal foreign investments

The commission stated that these unregistered platforms also claim to be operating in partnership with capital market operators (CMOs) registered with the Commission, warning such CMOs to desist henceforth.

BRICS development bank approves $1bn COVID-19 loan for South Africa

The loan will support the Government of South Africa in its efforts to contain the economic fallout of the pandemic and start economic recovery," the bank said in a statement.

CBN gets order to freeze 194 accounts in 17 banks

In one of the suits against Nuru Abubakar and 24 others, the court granted the request by CBN to freeze the account of the defendants in the banks for 45 days.

South Africa POPIA: Final Guidance Note for Information Officers and Deputy Information Officers now published

The Guidance Note also provides welcome clarification in respect of the role of the Information Officer for private bodies that are juristic persons.

The big question for the rand right now

Lower US interest rate expectations boost investors’ appetite for emerging markets assets such as the rand, which offer higher returns but carry more risk, Reuters reported.

CBN freezes 11 bank accounts

The motion exparte which was dated March 12 and filled on March 16 sought the mandatory order of the court to direct First City Monument Bank Limited to freeze all transactions on accounts and all other bank accounts of the defendants for a period of 180

Mauritius a player in transparency – identifying Ultimate Beneficial Owners

This mandate for transparency in many jurisdictions has changed the game in the financial industry around the world and Mauritius as a responsible player has been no exception.

South African exchange control – relaxation of loop structures

The level of disclosure required needs to be balanced against any potential tax and estate duty savings and most importantly whether the return on the investment outperforms current returns on invested funds.

World Bank forecasts Niger, Guinea, Côte d’Ivoire to make big recovery in 2021

The report says that the worst is over and expects a recovery.

Mauritius enhances its Special Purpose Fund regime

The objective of the revamped SPF Rules is to ease access to new markets and offer international fund managers and GPs the ability to establish a tax exempt entity that has economic substance in Mauritius to attract investors.

Group Asks EFCC to Probe N37.4bn Zamfara Promissory Notes

The petition was signed by PAPSD’s Executive Director, Dr Sani Shinkafi

CMA slaps Sh15m fine on Real People bosses for misuse of funds

Five of the nine executives have opposed the regulatory action at the CMA tribunal, while the four have been fined between Sh2.5 million and Sh5 million.

Rand weakens as investors bet on US growth

Bonds also weakened, with the yield on the benchmark 2020 paper up 3 basis to 9.515%.

Auditor-General continues to push for accountability

Irregular expenditure and supply chain mismanagement still rampant.

Kenyattas, Co-op CEO top in Sh17bn bank dividends

The Kenyattas are set to receive Sh326 million for their combined 13.2 percent stake in NCBA Group , which has proposed a payout of Sh1.5 per share.

Nigeria's Access Bank buys $60 million stake in South Africa's Grobank

Access is restructuring itself into a holding company and has received approval from Nigeria’s central bank.

New lockdown rules threaten businesses looking for Easter weekend boost in South Africa

The food and beverage sector did not fare much better, with a decline of -36.1% in total income generated in the same period, it said.

Another step forward for Access Bank agreement with GroCapital

“We are excited about joining the Access Bank family and look forward to contributing meaningfully to the achievements and ambitions of the Group.”

This popular Golden Visa programme is changing – here’s what South Africans should

Instead, residential property investment will be directed to less-densely populated interior regions, the Azores and Madeira.

Regulation,Tax & Compliance