Managers of Wealth Africa

Boost for domestic worker salaries in South Africa

This means domestic worker wages rose above the headline inflation figure, ensuring real wage growth of 0.3%.

Good news for salary increases in South Africa

Although salary increases are not the only consideration in a robust total rewards programme, they are a cornerstone.

Trust and company service providers are well placed to help combat financial crime

The sector therefore plays a critical role in South Africa’s efforts to combat financial crime, including money laundering, terrorist financing, and proliferation financing (ML, TF, and PF).

Backlash over Capitec’s crypto-purchase restrictions

The bank has decided to block electronic fund transfers to crypto exchanges, urging customers to use its more expensive Capitec Pay app instead.

Nigeria’s high interest rate will stay for long — W’Bank

At the last Monetary Policy Committee of the Central Bank of Nigeria, the benchmark interest rate was hiked by 50 basis points to 27.25 per cent in a bid to rein in inflation.

Discovery Bank fraud warning

These messages typically include a payment link.

Naira among worst performing currencies – World Bank

The World Bank’s report further highlights that demand for dollars, driven by financial institutions, non-financial end-users, and money managers, has exacerbated the pressure on the naira.

Ecobank Takes Steps to Address Challenges in Nigeria

The rapid decline of the Nigerian currency—from 951.8 naira per dollar at the start of the year to about 1,628.5 naira by the end of July—has put extra pressure on the bank's finances.

PenCom Unveils Service Charter, Automates Pension Clearance Certificate Process

Oloworaran, specifically commended staff for their dedication to service excellence, and being part of the important transformation in the country’s pension landscape.

Absa fraud warning – including a rise in kidnappings

They claim the customer has been a victim of fraud and ask them to cooperate in resolving the issue.

Multinational: African Development Bank Group approves $34.8 million in grants to build climate resilience in Malawi and Zimbabwe

Under the project, insurance payouts will provide timely and adequate financial protection to mitigate losses incurred from climate-related disasters

5 major banks slapped with fines in South Africa

The PA regulates banks, insurers, cooperative financial institutions, financial conglomerates and other specific market infrastructures.

Kenya is overhauling its national healthcare scheme after 58 years

Insurance Fund for advanced services at larger hospitals, and the Emergency, Chronic and Critical Illness Fund to cover emergency and long-term treatments.

Good news for interest rate cuts in South Africa

The central bank’s forecasts see consumer price growth settling at 3.6% in the last quarter of this year and averaging 4% in 2025.

SEC: Smart Regulation Catalyst for Inclusive Growth, Investors Protection

Agama said the SEC has adopted a Regulatory Incubation (RI) Programme, which allows fintech firms to test their business models

HSBC and Bidvest Bank fined millions for non-compliance

HSBC failed to conduct adequate customer due diligence

New bank branches for Smart ID and passports in South Africa incoming

The public-private partnerships would allow the banks to use their employees to run the service while Home Affairs staff are moved to other projects.

PenCom okays ARM, Access Pensions merger

It noted that the merger was expected to achieve economies of scale and improve operational efficiency within the new entity, adding that Retirement Savings Account holders could anticipate enhanced services and benefits.

The African Development Bank approves a trade finance facility of EUR 70 million for Bank of Africa Morocco to promote trade in Africa

The facility comprises a Risk Participation Agreement (RPA) of EUR 50 million and a Trade Finance Line of Credit (TFLOC) of EUR 20 million.

African Development Bank takes $10 million equity stake in Kenya’s Dhamana following anchor investment from Private Infrastructure Development Group

Dhamana will support access to financing for key sectors including transport, water, renewable energy, and waste management.

Regulation,Tax & Compliance