Managers of Wealth Africa

Reforms transforming Nigeria into investment hub – Envoy

The High Commissioner pointed to Nigeria’s bold moves, such as the abolition of the fuel subsidy and the unification of the exchange rate system.

South Africa’s electricity transmission market to be opened up

In recent years, the country has faced major transmission constraints in areas that are rich in renewable energy resources

SARS coming after one group of South Africans hard

This drive will focus on low-hanging fruit like undisputed tax debt, which appears to be SARS’ strategy for bolstering revenues without implementing new taxes.

South African fund manager slapped with R3 million fine

The specific provisions that Ninety One fell afoul of relate to the risk rating of its clients, and performing customer due diligence to determine whether transactions were tied to terror financing.

Budget 3.0: Provincial budgets in the firing line?

Meeting between minister of finance and all provincial finance MECs set to take place on Tuesday.

Six Nigerian banks spent N36.4bn on security in 2024

Security is not the only structural cost weighing on Nigerian banks.

Ethiopia Auctions Dollars to Deal with Forex Chaos as Kenya's Reserves Hit KSh 1.33 Trillion

The Ethiopian birr has been undergoing a turbulent transformation since the National Bank of Ethiopia (NBE) abandoned its long-standing fixed-rate regime in July 2024

Digital government can benefit citizens

How South Africa can reduce the risks and get it right.

National Bank of Ethiopia Discloses Results of Fifth Forex Auction

The next auction is scheduled to take place in two weeks, with further details to be announced in due course.

SARS not coming after R10,000 cash withdrawals in South Africa

The SARB confirmed to BusinessTech that the articles are a complete fabrication, and that no such rule had been announced.

Lagos, banks partner to create 10,000 MSME jobs

The initiative, named the Lagos State–BOI–Sterling Bank MSME Access to Finance Scheme, was launched in a ceremony coordinated by the Lagos State Ministry of Commerce, Industry, and Investment.

Ghana plans to regulate digital assets with new legislation

The Bank of Ghana intends to create a digital asset unit after parliament passes the Virtual Asset Providers Act.

Another big shift in interest rate expectations for South Africa

The tone around the interest rate cutting cycle has shifted several times this year.

Huge boost for the rand

The move has largely been driven by data and sentiment around US markets, where weak US data saw a mild contraction in the first quarter at -0.3%.

Nigeria incurs N315 billion in currency management cost

Currency issue expenses cover the printing, processing, distribution, and disposal of currency notes.

Standard Bank must pay back the money

It paid out more than R2.1m from a deceased estate to a fake executor and tried to argue that it followed proper due diligence.

CBN Emphasizes Financial Inclusion

In the report, Roland Berger noted that 36 percent of an adult population of 85 million were served by financial services compared with 68 percent in South Africa and 41 percent in Kenya.

Warning over disturbing bank scam making the rounds in South Africa

In extreme cases, victims are manipulated into transferring funds to these scammers.

Companies forced to shut down in South Africa

Although March’s statistics indicate an overall improvement, the notable increase in compulsory liquidations is a cause for concern.

IMF says Ghana can payback debts

Mr. Roudet was responding to a question posed by the Ghana News Agency on the capability of the government to meet its payables on the back of a large accumulation in 2024.

Regulation,Tax & Compliance