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BANKING AND FINANCE

MAURITIUS SOUTH AFRICA Investments funds 04/03/2021

South African furniture heir sets up shop in Mauritius Free

Kevin Ellerine, the son of the South African furniture magnate, has new investment projects in the pipeline through a firm set up in Mauritius in February. He is meanwhile continuing to manage the family fortune along with his cousin Dionne Ellerine and his uncle Eric Ellerine. [...]

SOUTH AFRICA Investments funds 03/03/2021

Wealth managers reassure their clients after government's tax announcements

South Africa's main asset managers have been putting their wealthy clients' minds at rest: there will be no tax increases for 2021. However, the regularisation of illegal offshore structures remains a point of concern. [...]

ERITREA Finance 03/03/2021

Qatar National Bank sues Asmara for $280m

After attempting a path through the British courts in 2018, the Qatari state bank has turned to the United States to try and recover sums lent to Eritrea more than a decade ago. [...]

LIBYA Finance 03/03/2021

IsDB plans its return to Tripoli

The Islamic Development Bank (IsDB) is actively preparing to open a branch in Tripoli. It has been actively looking for a representative who would report to their regional office in Rabat. [...]

The Burkinabe businessman Idrissa Nassa. ©Twitter

Inner circles WEST AFRICA BURKINA FASO Mining 01/03/2021

Which of his many connections is Idrissa Nassa calling on to boost business?

IVORY COAST Banks 01/03/2021

Chinese bank ICBC deserts San Pedro university project

Industrial and Commercial Bank of China, the main financier of the future University of San Pedro, has abruptly withdrawn from the project, forcing the pan-African group Envol Immobilier of Madani Tall and Moctar Thiam to turn to Nigeria's UBA and Ivorian lender BNI. [...]

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Banking and finance

JAPAN AFRICA Finance 26/02/2021

Afreximbank courts Nissan and other leading vehicle manufacturers

The pan-African Afreximbank run by the Nigerian Benedict Oramah is seeking to cultivate good relations with vehicle manufacturers and with the management of Japan's Nissan in particular. [...]

SOUTH AFRICA Offshore finance 25/02/2021

The Oppenheimers ambivalent about tax planning

The Brenthurst Foundation, set up by the wealthy Oppenheimer family, recently hosted a conference about improving tax collection and fiscal consolidation in South Africa. A tricky issue, as the family also has its own set of offshore holdings. [...]

MAURITIUS Offshore finance 24/02/2021

Warner Music settles in Mauritius to market Punjab hits

The American entertainment colossus Warner Music decided to create a base in Mauritius' financial centre at the end of February in order to enter the Indian market, partnering with South African firm Ziiki Media. [...]

UNITED KINGDOM SOUTH AFRICA Offshore finance 18/02/2021

Jersey seduces South Africa's investors

Amid post-Brexit uncertainties, Jersey's offshore promotion agency is trying to outshine Mauritius in one of their shared markets: wealthy South African individuals and investors. [...]

RWANDA Offshore finance 17/02/2021

Kigali International Financial Centre determined to open in June

Rwanda's offshore finance centre, originally slated for a December 2020 launch, is now set to get off the ground in June. Rwanda Finance, the state agency behind the centre, is working on attracting its first clients. [...]

Rhinos in South Africa's Welgevonden Game Reserve.

Focus SOUTH AFRICA Investments funds 15/02/2021

Former Dutch asset manager Frank Vogel runs into problems with his neighbours in white rhino territory

South Africa's wildlife reserves, which often receive financial support from foreign family offices, also attract European financiers, particularly when they have been in trouble with the authorities in their home countries. Dutchman Frank Vogel took up residence in a small nature reserve in South Africa's Limpopo province, where he soon became a director and one of its financial backers. [...]

Prime Minister of Mauritius Pravind Jugnauth.

Inner circles MAURITIUS Offshore finance 12/02/2021

Pravind Jugnauth's task force struggles to shake off EU blacklisting

Prime Minister Pravind Jugnauth has put together a solid team of experts to work on getting Mauritius off the European Union's blacklist of third countries that pose a risk to the bloc because of anti-money laundering deficiencies. [...]

WTO new Director-General Ngozi Okonjo-Iweala.

AFRICA Finance 11/02/2021

Okonjo-Iweala's WTO appointment could derail African Covid vaccine rollout

The appointment of its Covid special envoy Ngozi Okonjo-Iweala as head of the WTO has deprived the African Union of a key player in the already complex process of funding the rollout of vaccines in Africa, and the regional organisation is now counting heavily on her former employer, the World Bank. [...]

The chairman of the South African investment fund Orbis, William Gray.

SOUTH AFRICA Investments funds 10/02/2021

William Gray pursues father's strategy at helm of Orbis

The giant investment funds Orbis and Allan Gray, despite some criticism, have remained true to the vision of their late founder under the leadership of one of his children, William Gray. [...]

MAURITIUS Offshore finance 09/02/2021

Mauritius wants to attract more cryptocurrency operators

Crypto asset specialist Apollo Fintech opened up in Mauritius at the end of January. The island's Economic Development Board has been trying to attract cryptocurrency companies since 2017. [...]

Brazilian President Jair Bolsonaro and BNDES president Gustavo Montezano, in March 2020.

Focus BRAZIL Finance 08/02/2021

Bolsonaro under pressure to allow Lula's flagship development bank to return to Africa

Once the financial arm of President Lula da Silva's policy of strengthening ties with Portuguese-speaking Africa, Brazilian development bank BNDES suddenly withdrew from the continent four years ago in the wake of the Lava Jato anti-corruption investigation. [...]

UNITED KINGDOM AFRICA LIBYA Banks 05/02/2021

British Arab Commercial Bank boosts its anti-money laundering credentials by recruiting from HSBC

The British Arab Commercial Bank, the British wholesale banking arm of state-owned Libyan Foreign Bank, has recruited both its CEO and its anti-money laundering chief from the banking giant HSBC. [...]

SOUTH AFRICA UNITED KINGDOM Offshore finance 01/02/2021

Wealth manager Maitland helps keep Mandela's UK foundation going

Maitland, a global advisory firm, has sponsored the British branch of Nelson Mandela's children's foundation since its inception. The foundation has had to adapt since the death of the former South African president. Maitland is still holding its hand. [...]

MAURITIUS Offshore finance 28/01/2021

Port Louis becomes back office for ex-Wall Street gurus touting miracle Forex returns

The Russian financier Alex Gerchik, ex-trader and briefly a reality TV star, has set up a subsidiary in Mauritius for his online trading platform. Companies of this type have mushroomed in the island's offshore hub as well in the Seychelles. [...]

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BANKING AND FINANCE

South African furniture heir sets up shop in Mauritius Free

Wealth managers reassure their clients after government's tax announcements

Qatar National Bank sues Asmara for $280m

IsDB plans its return to Tripoli

Which of his many connections is Idrissa Nassa calling on to boost business?

Chinese bank ICBC deserts San Pedro university project

Free Articles

South African furniture heir sets up shop in Mauritius

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Kinshasa and Gaborone in two-way duel for top job at SADC

Afreximbank courts Nissan and other leading vehicle manufacturers

The Oppenheimers ambivalent about tax planning