Managers of Wealth Africa

Highlights of the IMF Article IV Consultation with Nigeria

On economic growth expectations, the Fund sees GDP growth improving to 3.3% in 2024

Ramaphosa to sign NHI bill on Wednesday

Move set the stage for a protracted fight with business, healthcare professionals and opposition parties

A moderation in PSCE growth in Mar ‘24

This marks a deceleration compared with the growth of 94% y/y recorded in the previous month.

FRC to release valuation regulations July

This regulation will be the first of its kind in Nigeria and the council will showcase the exposure draft to the public before launching it in July and the valuation regulations will guide all professional valuers and firms in Nigeria.

IMF cautions FG against CBN Act amendment

The position of the Fund was contained in the Article IV Staff Consultation Report of the Board of Governors of the global organization, which was released in Washington, yesterday.

Hijackers have a new target in South Africa – risking insurance premium hikes

The 2023 rise comes after 35% growth the previous year, taking the total to R55 billion in 2022.

‘Tap to pay’ warning for South Africans

South Africa’s sophisticated banking system has allowed consumers and businesses to use a variety of payment methods, with many using digital payment methods.

Ramaphosa signs election bill into law – including changes to donation rules

The legislation, passed by Parliament in March and signed by Ramaposa on 7 May 2024, amends the Political Party Funding Act.

CBN directs banks to suspend charges on deposits till September

The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona Adedeji.

FG eyes $750m W’Bank loan, mulls telecom tax

President Bola Tinubu in July 2023 ordered the suspension of the five per cent excise duty on telecommunications and the Import Tax Adjustment levy on certain vehicles.

CBN inaugurates West Africa workshop for effective project management

Insurance Sector: Tasks Before Omosehin

Since the announcement, industry operators have been expressing their confidence and trust on him as the right candidate for the job.

Banks close 2m accounts over BVN, NIN, others

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

Black Business Council revives calls for putting African Bank in black hands

Motsuenyane, who has been hailed as the father of African Bank and a black business pioneer, passed away on Monday at the age of 97 after a long battle with illness.

Uganda to get $295m loan from Saudi's Islamic Development Bank

The move underscores Uganda's efforts to diversify its sources of external funding, as talks with the World Bank to resume lending have dragged on without fruition.

UAE, Kenya join hands to boost digital cooperation

Kenya has become increasingly attractive to data centre providers, driven by growing demand for cloud services, improved business conditions

UAE-Kenya deals: ADQ to establish investment framework

In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year-on-year to $3.1bn

Stanbic IBTC Holdings to raise N550bn via debt, rights issue

Several players in the banking sector have announced plans to raise additional capital to meet the new capital requirements of the Central Bank of Nigeria.

Shareholders approve $1.5bn capital raising for Access Holdings

The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.

‘CBN’s moves to stabilise naira laudable’

The President and his cabinet must show the determination to implement change and renew the hope of Nigerians.

Regulation,Tax & Compliance