Managers of Wealth Africa

UAE, Kenya join hands to boost digital cooperation

Kenya has become increasingly attractive to data centre providers, driven by growing demand for cloud services, improved business conditions

UAE-Kenya deals: ADQ to establish investment framework

In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year-on-year to $3.1bn

Stanbic IBTC Holdings to raise N550bn via debt, rights issue

Several players in the banking sector have announced plans to raise additional capital to meet the new capital requirements of the Central Bank of Nigeria.

Shareholders approve $1.5bn capital raising for Access Holdings

The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.

‘CBN’s moves to stabilise naira laudable’

The President and his cabinet must show the determination to implement change and renew the hope of Nigerians.

IMF Mission to Visit Mozambique Next Month to Assess Macroeconomic Situation

The government is going to discuss in detail the possibility of mobilising resources to strengthen economic resilience, especially in the province of Cabo Delgado

CBN sells $10,000 to each BDC at N1,021/$

This marks the second such intervention this month by the apex bank.

Reserve Bank adds new measures that will impact interest rate decisions in South Africa

The PCCI is higher than core inflation, which stood at 4.9% last month.

Africa's $824 billion debt burden, loans hinder its potential, African Development Bank President warns

He said the continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010.

Nigerian banks set for aggressive dividend payouts amid new capital rules – EY

With the latest recapitalisation exercise by the Central Bank of Nigeria and the subsequent exclusion of retained earnings from minimum capital, banks in Nigeria need at least N4 trillion to remain in business.

African Development Bank rapidly exceeding climate finance targets

Adesina, Banga, and other global leaders highlight urgency of collective effort to scale up finance to support developing countries hit by climate change.

Unemployment warning for South Africa

This tallies the official unemployment rate at 7.9 million people and the expanded unemployment rate at 11.7 million.

Nigeria aims to boost trade, investment with G-24

Their collective aim is to collaborate in aligning their stances on issues related to international monetary policy and development financing.

Nedbank bosses also in R400m payday

Nedbank says the following caused the sizeable increase in pay: “the share price appreciation of 67% from the award in 2021 to the end of 2023

N80bn money laundering: FG places Yahaya Bello on watchlist, immigration alerts DSS

The EFCC declared Bello wanted on its official Facebook page after failed attempts to arrest him on Wednesday in Abuja.

SARS vs Capitec – what the Constitutional Court ruling means

SARS had argued – successfully up until the Supreme Court of Appeal – that supply of the loan cover did not constitute a taxable supply because it was offered for no consideration (free of charge).

The big issue hitting the rand and interest rates in South Africa – and it’s not the elections

Not all central banks have an explicit dual mandate.

SEC to boost market confidence at CMC meeting

The CMC is an industry-wide body comprising the SEC, capital market operators, trade groups, and other stakeholders.

World Bank backs Central Bank of Kenya interest rate hike

The shilling has been the biggest gainer among currencies in Sub-Saharan Africa on a year-to-date basis

Warning for directors in South Africa

This was outlined by legal experts at ENS Africa, Wandile Ndabambi and Atlegang Raganya, who said that this is stipulated in black and white in the Pension Funds Act.

Regulation,Tax & Compliance