Managers of Wealth Africa

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.

Money trail fades with tighter policies

The reduction in M3 reflects the hawkish stance of the Monetary Policy Committee

Somalia and the African Development Bank inked a financial agreement in Kenyan capital, Nairobi

Somalia has taken a huge stride forward with the rise of optimism amid the global climate catastrophe.

Ghana central bank holds rate as currency slide slows disinflation

The West African cocoa, gold and oil producer, which defaulted on most of its external borrowing in December 2022, has been restructuring its debts as it tries to emerge from its worst economic crisis in a generation.

Godongwana says to stay as finance minister if askedSouth Africans vote on

Wednesday, with Godongwana’s ruling ANC facing its toughest election fight since taking power in 1994.

2024 has been harder than expected – but there are signs of life for South Africa

In South Africa, the mood has definitely improved from the depths of depression many of us experienced last year, even with the often-loaded and scary pre-election jitters.

136% of 2023 FX inflows recorded in three months – Cardoso

The CBN has been issuing a flurry of circulars on the forex market in a bid to sanitise the system.

Business diplomacy and Africa’s development

Rwanda is hosting it for the second time since its maiden edition, held in Geneva 10 years ago.

Central Bank of Nigeria officially withdraws cybersecurity levy

This was disclosed in a circular to different categories of banks on Sunday evening

Regulation,Tax & Compliance