Managers of Wealth Africa

Reserve Bank warns of big risks to South Africa

This was outlined in the South African Reserve Bank’s (SARB’s) latest Financial Stability Report (FSR) which evaluates the stability of the country’s financial system over the last six months.

World Bank approves Nigeria’s $2.25 billion loan request

Labour unions also have been pressuring Tinubu to roll back reforms.

Stanbic Bank Botswana and Debswana Diamond Company Launch CEEP Strategic Partnership

The collaboration underlines a shared commitment to enhancing the socio-economic landscape of Botswana

GN Savings and Loans breached a number of banking rules – BoG

Similarly, the institution’s adjusted Capital Adequacy Ratio of negative 61.20% as at end May 2019 is in violation of Section 29(2) of Act 930.

SARS clarifies new rules for buying from Amazon

The tax service said that this clearance process has been in place for a number of years

Blocked from tax returns and threats of fines and jail time – SARS warns of new scam

SARS urged taxpayers to ignore the email and report it to its fraud department.

Kenya to issue payment licences: Flutterwave, Chipper Cash could be first in line

Kenya’s financial sector is regulated under the Central Bank of Kenya Act

Naira is in crisis but cryptocurrency isn’t to blame

Nigeria needs consistent policy.

What you need to know about South Africa’s new retirement system

On 31 August 2024, 10% of the value of all existing retirement funds, or R30,000 (whichever is lower) will be allocated to the savings pot.

$3.3bn loan-for-crude: FG gets $925m lifeline as naira trades 1,481/$

The facility is to help the Federal Government attend to some of its dollar obligations

APPO, Afreximbank sign establishment agreement for Africa Energy Bank with $5bln capital

This milestone concludes two years of negotiations and preparations since the signing of a Memorandum of Understanding in May 2022, aiming to establish the AEB

Africa Energy Bank agreement signed into implementation

The signing ceremony concludes two years of negotiations and preparations by the two parties

SARS announces tax season 2024 dates – when to expect auto assessments

Information of any auto assessment changes for 2024 will still be communicated, SARS said.

Livestock Wealth (and its investors) waiting on the FSCA

Remains adamant the regulator is treating it unfairly.

We are committed to strengthening regulations within financial market – BOG

Mr. Opata emphasized the importance of coordinating activities among central banks to improve the general banking environment on the continent.

How mobile money is democratising trading and investing in Kenya

The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.

African Development Bank Group Board of Governors approves $117 billion General Callable Capital Increase

“It is a major demonstration of the faith, of the confidence that our shareholders have in us, in our ability to use our resources well.” Akinwumi Adesina

Ramaphosa signs new retirement system for South Africa into law

Individuals will have access to amounts in the savings component before retirement for times of financial distress, and the amounts in the retirement component are preserved until retirement.

Here are the new FNB banking fees for 2024/25 – with big changes to eBucks

The Easy PayU account offers free transactions like small value real-time payments and one free e-wallet payment per month.

Reserve Bank holds rates – warns of a longer wait

Rates have been on hold since the last policy rate decision a year ago, when the MPC hiked rates by 50 basis points.

Regulation,Tax & Compliance