Managers of Wealth Africa

Philippines exits, South Africa ‘close’, two added to FATF grey list

In the case of the Philippines, FATF “welcomes the Philippines’ significant progress in improving its AML/CFT regime.

Kganyago’s warning to South Africa

The US president has battered financial markets with an array of threatened tariffs on products including steel, aluminum and cars, as well as on specific countries such as China.

A likely hold stance by the MPC

In addition to inflation control, a significant incentive for the CBN’s tightening efforts was to create an attractive investment environment aimed

South Africa could be off the FATF grey list by October

Global anti-money laundering watchdog notes the country’s progress.

Allan Gray retirement fund warning

It divides contributions to retirement fund members into two components: a savings component and a retirement component.

Anger over ANC still riding roughshod over taxpayers

Economic mess is because we keep scoring own goals.

Bank of Ghana announces audit of remittance activities for Q4 2024

The BoG urged all market participants to fully comply with these regulatory requirements.

Ghana government increases daily national minimum wage to GH¢19.97

It noted that the effective date for the 2025 NDMW implementation shall be March 1, 2025.

Capitec scam warning

This extensive client base gives the bank a good idea of the scams targeting regular South Africans, which have become a notable concern.

New Core Capital Requirement to Accelerate Kenyan Banking Sector Consolidation

We believe that the aim of the new requirement is to improve the banking sector’s resilience to shocks and to encourage consolidation.

OSP removes former Finance Minister Ofori-Atta from Wanted List

According to the OSP, six days later on February 18, Mr Ofori-Atta through his lawyers has given the OSP a definite date of his voluntary return to the jurisdiction.

FCMB, Union Systems Renew Partnership to Boost Nigeria’s Trade, Finance

“The continued partnership between Union Systems and FCMB affirms the transformative impact of Kachasi on our trade finance operations.”

Naira strengthens at parallel market, weakens on official window

At the official Nigerian foreign exchange market, the naira faced ongoing demand pressure.

South Africa needs new debt rules – and fast

Rising interest payments have been crowding out critical expenditures on services such as health, education and infrastructure.

The ugly truth about South Africa’s new expropriation laws

The issue of perceptions and fears have been in full play since the laws were signed.

Minimum wage warning for employers in South Africa

Workers who are part of the expanded public works programme will earn a minimum wage of R15.83 per hour, an increase from R15.16 in 2024.

Relief for over 15,000 South African jobs

The programme is the largest foreign donor to South Africa’s HIV/AIDS initiatives, having contributed more than R140 billion over the past two decades.

Kenya’s top bank promises to punish other banks that defy its benchmark rate

The decision by the bank resulted from increased pressure on commercial banks to lower lending rates in line with benchmark rate cuts.

CBN scraps free ATM withdrawals for other banks’ customers

Under the new directive, withdrawals made from a customer’s bank ATM will remain free.

African Development Bank’s Climate Action Window channels $31m to boost climate resilience in four countries

The projects will also benefit from $28.13 million in climate co-financing from sources including the Green Climate Fund.

Regulation,Tax & Compliance