Managers of Wealth Africa

SA is changing its retirement rules to help boost country savings

How it will work – with some historical context and a look at how things work in other countries.

Ethiopia's birr drops 30% as central bank floats currency

The Horn of Africa nation, which has been struggling with soaring inflation and chronic foreign currency shortages, became the third economy on the continent in as many years to default on its government debt last December.

Rand takes a hit as the dollar rallies

Investors are also looking to the meeting of the US Federal Reserve this week for indications on its next move on rates.

AfDB’s Akinwumi Adesina briefs African leaders on bank’s progress in mobilising financial resources for the continent

The approval will enable Africa’s only AAA-rated financial institution to preserve its status

Boost for interest rate cuts in South Africa

Core inflation, which excludes volatile food and energy costs, also dropped down to 4.5% in June from 4.6% in May.

Central Bank of Ghana proves viability for its cross-border payments solution

The project is transformational in the respect that it combines tokenization and digital currencies

Nigeria raises rates as inflation continues to rise

Central bank plans to maintain tight policy as food prices prove particularly challenging

These countries are poaching South Africans for jobs – paying up to R2.3 million

With this growth comes the increased demand for critical skills.

Ghana’s economic prospects on track amid reforms – World Bank

The report highlights the steady progress Ghana has made over the past year in addressing severe macroeconomic imbalances that emerged in 2022.

Africa deserves equal treatment, Afreximbank boss Oramah tells IMF

President of Afreximbank, Benedict Oramah, urges African leaders to stand firm against financial inequities.

Banks must fund black entrepreneurs

This disparity not only hampers individual economic empowerment but also stifles the overall growth potential of the country’s economy.

Ramaphosa green lights new pension system for South Africa

The retirement pot will hold the remaining two-thirds of retirement savings and will only be accessible upon retirement.

Banks Allowed to Invest in Capital Market Service Providers

“This strategic decision is anticipated to significantly enhance the role of banks in nurturing a robust and effective capital market ecosystem,” NBE said in a statement.

Impostor account falsely claims Ethiopian bank offering prizes to celebrate high profits

Published on July 15, 2024, the post has been shared more than 6,000 times.

INTERPOL blocks 720 bank accounts linked with online frauds in West Africa

INTERPOL added that more than 160 fraud victims suffered significant financial losses, with some forced to sell their homes or take out large loans as a result.

Three banks exit, five enter Kenya’s oil import deal with Gulf majors

The agreement, which involves the extension of the credit period for the importation of petroleum products from 30 days to 180 days

Good news for interest rates in South Africa

The vote was not unanimous, with four members of the committee voting for the hold and two voting for a cut of 25 basis points.

Basic income grant for South Africa still on the cards

This is a key policy promise that has continued across administrations and has now settled into the GNU as well.

Ethiopia launches new monetary policy framework

Move is part of effort to unlock much-needed funding from IMF

Things are looking up for the rand

The rand is now set to retain an improved position following the unwinding of the local risk premia, and it will now be influenced by global markets.

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