Managers of Wealth Africa

Reserve Bank hikes rates by 25 basis points

The move was broadly in line with market expectations, with analysts and economists anticipating a 25bp or 50bp hike.

Nigeria's Islamic finance industry continues to grow despite headwinds: Fitch

Overall Nigerian banking sector outlook is 'deteriorating', says report

Parliament stops banks from asking clients sources of cash deposits

Moneyed individuals and businesses have for long protested the onerous checks, arguing they have hindered their ability to carry out smooth transactions.

Kenya’s benchmark rates to rise to 9.5% by year-end

Analyst expects central bank to keep hikes at nearly 0.25 percentage points per review

New Bill eliminates Parliament’s nod in sale of parastatals

The report is reviewed by a parliamentary committee before its tabling in the National Assembly for approval.

Deadline for property owners in Cape Town – what you need to know

“This will ensure that the values determined by the city of Cape Town reflect a reasonable market value of your property,” he added.

Massive win for solar users in Cape Town

With the exemption in tow, businesses – and in time, residents – will now soon be able to receive cash for selling their excess power into Cape Town’s grid, the city said.

Ghana grants banks extension for reports filing

The Ghana Association of Bankers had indicated that their discussions on the Government of Ghana Debt Exchange programme currently ongoing, had affected the finalisation of financial statements for the year ended December 31, 2022, by external auditors of

Banks battle new naira shortage ahead deadline

Despite the apex bank and depositing banks’ assurances that Nigerians would begin to receive the new naira notes from ATMs across different platforms, findings as of Sunday showed that many ATMs belonging to the financial institutions were dispensin

De La Rue sheds 300 Nairobi jobs, fights Sh1bn KRA judgment

While Kenya has struggled to retain and attract multinational manufacturers, it has recently become a magnet for technology firms and financial service companies seeking a hub for a larger share of the African market.

KRA nets Sh174m in digital service taxes in six months

In total, the taxman has registered 178 firms under the tax head.

Over 1,900 businesses shut down in South Africa – these sectors were hit the hardest

Most of the businesses that closed in the country were in financing, insurance, real estate, and business services, followed by trade, catering and accommodation.

New rules for crypto ads in South Africa – including warnings that you could lose your money

Advertisements must expressly and clearly state that investing in crypto assets may result in the loss of capital

Why States Should Implement Contributory Pension Scheme

The National Pension Commission (PenCom) reviews draft state Pension Laws and supports states in implementation.

What to expect from interest rates in South Africa this week

More than half (59%) of the panel think the rate will be increased by 50 basis points (bps), while a third (33%) predict just a 25bps increase.

Ramaphosa wants Eskom to halt price hikes

Ramaphosa’s comments come after Eskom said the country could face two years of persistent blackouts as it overhauls its ageing power stations. He spoke in the central Free State province.

Uganda to raise capital requirements for forex bureaus, money transfer firms

Existing regulations governing those businesses were enacted in 2004, and the higher capital requirements are designed to help the central bank effectively handle fraud complaints and instil market discipline, the finance ministry said in a statement

South African law firm ordered to pay over R5.5 million to victim of email fraud

The seller appointed ENS as the conveyancing attorney.

Zenith Bank Ghana ceases operations as a Trustee in securities industry and capital market

It added that this is to promote the growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.

Banks reject amended debt exchange offer

However, in the event that a bank may have to move forward to exchange, the MD/CEO must inform the CEO of GAB directly of the decision,” according to the letter sent to the banks.

Regulation,Tax & Compliance