Managers of Wealth Africa

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.

BoG launches gold coins to enhance stability of Cedi – cuts policy rate by 200 basis points

Dr Addison stated that the GGC, issued and guaranteed by the BoG could be purchased in Ghana through commercial banks across the country

African Development Bank Group’s Sustainable Energy Fund for Africa approves €6 Million for Desert to Power - Burkina Faso Solar Project

The project involves designing, constructing and operating an 18-megawatt solar power plant in Dédougou

Regulation,Tax & Compliance