Managers of Wealth Africa

Nigeria: Naira again depreciates to dollar in the parallel market

Data from the FMDQ Exchange further revealed a marginal depreciation in the Nigerian Foreign Exchange Market

SA employer organisations oppose national minimum wage hike

Commission recommends 1.5% plus inflation increase.

South Africa’s social unrest threat, and the worst pension fund offenders

With the maintenance completed, residents must now endure a waiting game as water restoration begins. However, large numbers are still reporting dry taps.

It’s only going to get worse for this type of crime in South Africa

Insurance company Allianz Commercial recently warned that cyber claims as a result of attacks have continued to rise over the past year.

Here is the proposed wage hike for domestic workers in 2025

This follows the commission’s recent invitation for written representations on potential adjustments to South Africa’s NMW for 2025.

States must pay minimum wage with arrears

Against this backdrop, organised labour fought for and won the promulgation into law of the N70,000 minimum wage for Nigerian workers.

IMF approves $181mln in new funding for Rwanda

IMF says Rwanda met targets and reforms to improve public investment transparency

Nigeria, African countries need $74bn for debt servicing – AfDB

The liquidity needs for debt refinancing remain high at about an average of $10bn per year from 2025-2033.

African Development Bank Group to extend facilities worth $200 million

Bond proceeds will go to support SME lending initiatives under the Standard Bank Group’s Sustainable Finance Framework.

ADB denounces false claims against Deputy Managing Director, threatens legal action

The Bank further assured stakeholders of its resolve to drive economic growth through agriculture and other developmental initiatives.

Allan Gray festive season warning for South Africa

Often fraudsters impersonate financial service providers and other legitimate organisations in an attempt to get hold of one’s personal information.

World Bank may approve $500m loan to Nigeria today

The World Bank is expected to approve the loan project worth $500m by Friday, December 13, 2024.

Finance companies in South Africa slapped with R1.8 million in fines

The companies slapped with sanctions were Prime Collective Investment Scheme Management Company (Prime) and Wealth Portfolio Managers (Wealth).

Nigeria: FG’s increase of Monetary Policy rate to 27% is stifling aviation growth

The Federal Government should look at aviation not as a source of revenue, but as an enabler to business and economic growth

FSCA slaps R1.2m fine on investment firms for non-compliance

Both companies were in breach of the FIC Act aimed at combating money laundering and the financing of terrorism.

Bad loans haunt banks — NPLs rise to 22.7 per cent

The Monetary Policy Committee of the Bank of Ghana in its November report noted that Credit risk remains elevated in the banking sector.

OPS urges sustenance as naira gains N137/$

This came as some members of the Organised Private Sector urged the CBN to sustain the naira gain, stressing that this would benefit the Nigerian economy.

A new type of mafia is targeting your bank account in South Africa

The situation highlights vulnerabilities in digital payment systems and exposes the broader implications for the e-commerce industry.

African Development Bank and Bank of Africa SA sign EUR 50 million risk-sharing agreement to support development of SMEs and boost African trade

The risk-sharing agreement will enable Bank of Africa SA to provide more support to local African banks in their international operations, by allowing them to increase financing and confirmation lines with foreign counterparts.

CIBA rejects president’s appointee over legal breaches

The controversy centres on a presidential appointment letter dated November 29, 2024

Regulation,Tax & Compliance