Managers of Wealth Africa

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

Trouble for South Africa’s big banks over fees

These practices, he noted, stifle economic growth and innovation.

Exxaro CEO suspended over governance practices

The company has seen several key executives resign in recent months.

Sarb, climate shocks and the economy

We asked South Africa’s central bank what role it plays in bringing stability.

IMF approves $360m third tranche loan for Ghana

This brings the disbursements under the ongoing three-year $3 billion Extended Credit Facility  arrangement to about $1.9 billion, since May 2023.

South Africans hit with major “FACEBK” card fraud

One Absa customer also reported that they were targeted, but that the bank blocked the fraud attempt before the money went off.

Warning for interest rates in South Africa

Inflation at the time was also low, a sign of economic slack or idle resources.

East African banks turn to SME lending, but credit gap remains

The IFC alone has committed $4 billion in 2024 for MSME financing globally, focusing on

UBA Expands Global Network with New Banking Hub in France

Expanding into France is a natural progression

6 major scams targeting South Africans and their money in 2024

Nedbank notes that scammers often pose as bank representatives or trusted entities, creating a false sense of urgency to extract personal details.

Minister unveils Digital Economy Policy, Strategy

The policy aims to leverage digital technologies to foster economic growth, improve public service delivery and ensure equitable access to digital resources.

Standard Bank’s new banking fees for 2025 – including a new private account

For transactions, though, some adjustments have been made, especially regarding ATM charges for withdrawals.

Standard Bank signs agreement with IFC to expand local currency lending in Africa

Standard Bank was selected as the partner for this initiative due to its long-standing relationship with IFC

Regulation,Tax & Compliance