Caldora follows Belvedere in losing Mauritius licence
Caldora Asset Management, operators of the Mauritius-domiciled Caldora Offshore Balanced Fund which suffered a spectacular drop in returns after its launch, has had its licence terminated.
Africa
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S. Africa rand jumps after state corruption report released
The rand got another lift on Wednesday reaching its strongest level in over a month against the dollar after the courts ruled that the Public Protector’s report into so-called ‘state capture’ must be released.
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Mauritius suspends Belvedere unit’s fund management licence
Belvedere Fund Manager Ltd, part of the troubled Mauritius-based fund house Belvedere Management Group (Belvedere), has had its licence to operate collective investment schemes (CIS) suspended by the Indian Ocean island nation.
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Tackling the offshore return conundrum from South Africa
“One of the biggest challenges I have faced as an adviser in South Africa in the past few years is generating a positive return for clients from international equities,” says Mark Jurgens, head of the Jurgens Group.
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South Africa contemplates introducing new wealth tax
South Africa’s government could be looking to introduce a wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.
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Australian regulator signs fintech agreement with Kenya
The Australian Securities and Investments Commission (ASIC) has signed a cooperation agreement with the Capital Markets Authority of Kenya (CMA) in a bid to boost financial services technology for both countries.
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South Africa’s Inkunzi launches new robo-adviser app
South Africa’s Inkunzi Wealth Group (IWGSA) has launched a robo-advice tool aimed at the country’s professionals.
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Kenya targets Islamic sukuk in financial services push
Kenya has unveiled a new body dedicated to promoting its fledgling Islamic finance industry, as part of a wider strategy to position itself as an International Finance Centre (IFC).
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South African IFA Carrick Wealth moves into Botswana
South African advisory firm Carrick Wealth has opened a new office in Botswana as part of a wider expansion across the continent, the firm has revealed.
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Concerns raised over plans to create Kenyan super regulator
Kenya’s financial services industry has raised concerns over plans announced by the country’s government earlier this year to merge four supervisory authorities in order to create one super regulator.
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Morocco’s Saham Finances buys Mauritian insurer Sun Insurance
Moroccan insurer Saham Finances has bought Mauritian insurer Sun Insurance for an undisclosed sum, the company has confirmed.
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Major Sth African insurer targets international life markets
Provisca, the international distribution business launched in August by Nigel Watson and Bryan Low, has signed its first partnership agreement, opening up the products of South Africa’s third largest listed insurer to international markets.