Managers of Wealth Africa

African Development Bank Launches Pioneering Energy-Efficiency Project in Senegal

From 2019 to 2024, the Bank committed approximately $6 billion to energy projects across Africa.

Kenya banks on trade pact with UAE to grow exports, attract FDIs

The two countries signed a Comprehensive Economic Partnership Agreement yesterday.

Government ups wage hike offer for public workers

To control its finances, the government wants to link public sector pay increases to the consumer price index for the two years after 2025-26, which was a sticking point, De Bruin said in a telephone call on Tuesday.

We’ll abolish betting tax, e-levy in our first budget – Ato Forson insists

Dr Forson also reiterated his strong stance on the controversial E-levy, saying his position on the matter had not changed.

N200bn USSD debt: NCC to name defaulting banks this week

These banks collectively owe a total of N200bn, and the telecom regulator is preparing to take action, including suspending USSD services for the defaulters.

Absa, bankers in trouble for involvement in council political factions

The 2016 and 2021 local government elections both produced a hung council, which led to the municipality being governed by a coalition.

Good news for interest rate cuts in South Africa

South Africa is expected to experience low inflation during 2025

How the the rand could hit R21 to the dollar in 2025

Fewer US interest rate cuts are supportive of a stronger US dollar, which led to to US dollar strengthening in the second half of December and has been instrumental in weakening the rand.

Ghana’s central bank releases draft Open Banking Directive

The Bank of Ghana stated that the Directive has been published to ensure the Ghanaian financial ecosystem remains secure, efficient and “globally competitive”.

FIC clamping down on businesses in 2025

The requirement for filing RCRs is integral to ensuring that the country’s businesses are aware of how they can be used for laundering proceeds acquired through criminal activities.

Interest rate warning for South Africa

Bloomberg Economics projects its aggregate measure of advanced-world interest rates to drop just 72 basis points in 2025, less than it did in 2024.

Ethiopia Central Bank Raises Credit Cap to 18% from 14%

The Committee “recognized the disinflationary trend in the latest monthly inflation data

Heavy penalties in store for FIC non-compliance

Institutions that have not submitted risk and compliance returns could be penalised up to R50,000

Ethiopia, World Bank sign a $700M financing agreement to strengthen the financial sector

The financing supports the government’s recent bold reform to modernize and liberalize banking operations in the country.

Zero to hero for the rand

South Africa’s carry appeal remains strong as inflation and expectations stay anchored

Naira weakens to 1,541/$

The naira had recorded a 40.9 per cent depreciation in 2024 when compared to the official rate at the close of 2023, which stood at 907.11/$.

South Africa’s biggest bank hit with sanctions

It also failed to comply with cash threshold reporting (CTRs) to the Financial Intelligence Centre (FIC) with missed deadlines.

Zero to hero for the rand

Developing-nation currencies have struggled in 2024 as robust US economic growth bolstered the dollar.

Capitec nailed by Reserve Bank over FICA violations

The sanctions consist of seven cautions, one reprimand and a financial penalty totalling R56.25 million

China and Nigeria Renew Currency Swap to Boost Bilateral Trade

The facility will help strengthen financial cooperation and expand the use of the two currencies, the People’s Bank of China said in state

Regulation,Tax & Compliance