Managers of Wealth Africa

African and global institutional investors sign on to new $500m infrastructure fund

The African Development Bank is investing $20 million in equity in the Africa50 Infrastructure Acceleration Fund.

King Charles begins unemployment scheme in Nigeria

The Chief Executive Officer of Prince’s Trust International, Will Straw, said the initiative was billed to commence in the aftermath of King Charles’ visit to Nigeria in 2018 but was delayed due to the outbreak of the Covid-19 pandemic.

Money laundering: CBN places Cameroon, Vietnam, Croatia on watchlist

The Financial Action Task Force is an international body whose purpose is to develop and promote measures to combat money laundering, terrorist and proliferation financing.

South African rand slightly stronger as dollar slips

At 0650 GMT, the rand traded at 18.7550 against the dollar , around 0.15% stronger than its previous close

South Africa’s central bank governor says single Africa currency is "impossible"

Adopting a region-wide common currency was a political project that cannot work without macroeconomic convergence

New currency for South Africa, Russia and China – Treasury responds

“is a very long way from becoming a reserve currency,”

Fintech helps counter non-compliance by 72% of SA's SMEs

Every registered company must meet certain requirements to remain active and trading in South Africa

Weak shilling raises Kenya debt repayment

International lenders largely use the London Inter-Bank Offered Rate (Libor)

Ecobank, Access, others seal pact to revolutionise cross-border transactions

The synergy would also pave the way for enhanced efficiency, transparency and reliability in intra-African settlement.

UBA, Access Bank, three others to lead Africa’s payment settlements

The partners said the agreements signified a step forward in the pursuit of seamless cross-border trade payments throughout the almost 40 countries covered by the banks.

Nedbank ups asset protection standards

“We hold these assets in physical or electronic form, and we also manage financial accounts, handle settlements, and deal with compliance and tax issues,”

Interest rate trouble ahead

“The bank warned that at least one more hike would be necessary this year. A hawkish tone was notable in other parts of Europe as well,”

Ramaphosa grants millionaire ministers a 3% salary increase

Ramaphosa has submitted the notice of his decision to parliament for approval before publication regarding the salaries of judges and magistrates.

SRC to press on with salary review despite President Ruto protests

The SRC said it has accommodated the President’s remarks, likening them to any other comments made at the public participation stage.

Five African multinational banks embrace PAPSS new settlement model

The signature of these Memorandums signifies a monumental step forward in the pursuit of seamless cross-border trade payments throughout the almost 40 countries covered by these Banks.

Businesses and households that don’t have to pay minimum wage in South Africa

The wage does not include the payment of allowances such as transport, tools, food or accommodation

Treasury sets cash, hiring limits in spending shocker

Treasury Cabinet Secretary Njuguna Ndung’u said the fixed monthly cash disbursements to MDAs will be tied to available funds with priority given to four categories of expenditure.

Namibia moves to strengthen financial sector and protect customers

Under the new bill, the minister of finance will be granted the authority to oversee and regulate banking fees, ensuring fair practices and protecting customers from overcharging.

CBN reviews limits on contactless transactions

The first circular contains guidelines for banks, other financial institutions, and payments service providers on contactless payments.

EBRD and Bank of Africa support MSMEs and trade in Morocco

BOA is the third-largest bank in Morocco.

Regulation,Tax & Compliance