Managers of Wealth Africa

Nigeria central bank governor says dollar liquidity improving

Dollar shortages are a major constraint in Africa's largest economy

CBK in major operation to stop aggressive dollar bids

CBK governor Kamau Thugge on Monday met bank CEOs and senior staff from treasury department in which he sought to reassure them of access to dollars

FG to sanction online banks over customers rights violation

The FCCPC boss noted that such actions, which breach the regulatory guidelines, were not acceptable methods for debt recovery.

Rise in core inflation raises jitters ahead of CBK interest rate verdict

CBK data shows that core inflation edged up to 3.6 percent in January 2024 from 3.4 percent in December, a three-month high rate.

Treasury gets new cash cow in climate financing billions

Funding from the facility is expected to replace previous budgetary allocations on the financing of climate-related infrastructure, including the development of clean energy and afforestation.

Citibank to make disclosure over Safaricom cash call funds

Citibank had opposed the application stating that the CAJ had no powers to grant such orders.

Bank of Ghana cuts policy rate to 29%

Ghana’s inflation rate was 53.6 per cent in January 2023, but reduced to 23 per cent in December 2023.

Warning for interest rates in South Africa

This came after inflation stayed within the SARB’s inflation target band of 3% to 6%, easing to 5.1% in December from 5.5% in November and 5.9% in October.

Strong case for permanent income grant despite South Africa’s money problems, says Ramaphosa

The National Treasury has tried numerous times to shut down the unfunded grant but has repeatedly had to re-introduce it

Nigerian exchanges face licensing hurdles as analysts urge SEC guidelines overhaul

Kue Barinor Paul, a Nigerian Web3 legal representative, said that Nigerian crypto exchanges and VASPs would likely have to merge to afford the SEC license requirement.

Kenya in tight spot as EAC, European trade deals clash

This has left Kenya in an awkward position

A reduction in FGN’s fiscal deficit

The data is published by the CBN but sourced from the Office of the Accountant-General of the Federation.

New law discourages investment in renewable energy

The change of policy came after a task force appointed in 2021 by former President Uhuru Kenyatta to look into the high cost of electricity for end-consumers

African Development Bank Group and Ethiopia Resolve to Normalize Relations

Consequently, the African Development Bank withdrew all its international staff from Ethiopia.

Africa in debt spiral as restructuring efforts drag on

The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development

FirstRand asset manager unit ready for takeoff

Ashburton Investments muscles up with more senior appointments

Fintech to refund customers after platform breach

Patricia Technologies also hinted that it had worked on a best-in-class technological solution to prevent a repeat of the recent breach.

Naira falls to N1,350/$ in parallel market

Consequently, the gap between the official and parallel market exchange rates widened to N418.77 per dollar yesterday from N416.43 on Tuesday.

‘Resistance is futile’: Why Nigeria rolled back crypto restrictions

The Central Bank of Nigeria's decision partly comes in light of a shift in attitude from regulators around the world in terms of how best to oversee what is already a $1tn industry.

Saudi Arabia cuts hiring fees for Kenya domestic workers by Sh80,000

Philippine workers got the least cut at 7.5 percent as those from Sri Lanka and Bangladesh had their wages reduced by eight percent and 9.6 percent respectively.

Regulation,Tax & Compliance