Managers of Wealth Africa

Mozambique Seeks $1.1bn Coalition to Drive Universal Energy Access by 2030

The meeting brought together development finance institutions, climate funds, cooperation partners, foundations, and private investors.

SA Corporate’s Rory Mackey gets CEO term extension

Comes as he has managed to stabilise the business and reposition the group as a major investor in the residential or multi-family space.

Naira holds strong against the pound post-CBN rate slash

The Nigerian currency’s strength and recovery against major currencies, including the Sterling, can be attributed to a combination of market interventions

Mozambique’s State Procurement Agency to Face Annual External Audits

This oversight mechanism will complement existing supervision by the Administrative Tribunal and the State General Inspectorate.

Experts say CBN’s surprise rate cut could boost growth, pressure FX

While analysts welcomed the move as a potential boost for businesses and economic activity, some cautioned that it could create new risks for foreign exchange inflows and investor sentiment.

New laws coming to South Africa put R2.2 billion deals on hold

The rules could push legitimate digital-asset transactions offshore or underground, they said.

South Africa’s rand catches a small break

Specifically, after the Fed hike, markets have pushed back their expectations of another rate hike.

South African financial regulator holds back on AI rules

It will publish its final report, listed as a Group of 20 deliverable under the 2026 US presidency of the forum, next month.

UBA urges Nigeria, Brazil to deepen trade ties

The UBA boss noted that bilateral trade in goods between Nigeria and Brazil was approximately $2.4bn in 2025

African Bank cutting jobs in South Africa

This comes as the Johannesburg-based lender faces financial strain and instability in its C-suite, with its CEO and CFO having resigned in the span of six months.

High Court shuts down R35 billion Vodacom deal

“The divestiture in question was undertaken and procured in contravention of the constitution and the law. It was therefore invalid, null, and void,” they said.

Mozambique’s Foreign Reserves Fall to 14-Month Low of $3.4bn

The central bank’s latest Monthly Statistical Information Summary shows that reserves declined by approximately $27 million from the $3.4 billion recorded in June.

Kenya Targets Systemic Banks With Higher Capital and Liquidity Requirements

The regulator designed the framework for institutions whose failure could trigger cascading disruptions across the financial system and the real economy.

Warning to South Africans getting their pension from outside sources

Banks typically don’t charge visible fees; instead, they incorporate their margins into the exchange rate, creating a hidden cost known as the spread.

Capitec hit with R28 million in fines for five different financial-crime compliance failures

The PA found that Capitec failed to conduct adequate due diligence on sampled client files, as required under section 21 of the FIC Act.

We must avoid return to grey list — Deputy Governor

The task force had previously warned that the loss of correspondent banking relationships can hinder trade, increase financial exclusion and push transactions towards informal channels.

World Bank Suspends ACS for 29 Months Over Terra Segura Fraud

According to a World Bank statement, ACS secured two contracts under the project as part of a joint venture.

South African lender FirstRand forecasts high single-digit growth in net interest income

FirstRand said its provision for the motor commission issue stood at £807 million ($1.09 billion), accounting for the regulator’s final decision in March.

Strict BEE laws in South Africa declared invalid and set aside

The new rules faced immediate backlash from the property sector

Reserve Bank says South Africa is ready for shocks

South Africa formally lowered its inflation target to 3% in November, with a 1-percentage-point tolerance band, replacing the 3% to 6% range that had been in place for 25 years.

Regulation,Tax & Compliance