Managers of Wealth Africa

Hopes dashed for bigger interest rate cut in South Africa

Investors bet his policies on tariffs and tax cuts may see the Federal Reserve cut rates by less than forecast.

The Bank Square is a symbol of the nation’s progress, resilience – Governor

This centralisation, he noted, is crucial for fostering better coordination, communication, and cost-effectiveness in the bank’s operations.

Africa negotiators call for ambitious new climate finance target of $1.3 trillion annually

Among the least responsible for global emissions, the continent suffers some of the most severe impacts of climate change, losing an average of 5% of GDP annually to climate disruptions.

What to expect for interest rates in South Africa next week

Economists are largely in agreement that the MPC will cut rates by another 25 basis points, continuing the slow rate-cutting cycle that started in September.

The rand takes a beating

The rand is also vulnerable from other angles.

Strike warning for South Africa, and tensions rise over SABC bill withdrawal

This disagreement signals another potential conflict between the ANC and DA within the Government of National Unity (GNU), namely the ANC and the DA.

African Development Bank Launches Project to Empower Vulnerable Youth and Women in The Gambia

The project will also provide the beneficiaries with access to health services by rehabilitating and equipping health facilities as well as set up services designed to promote emotional and social resilience.

How energy projects can navigate land use laws in South Africa

These land use considerations and the risk of conflicting rights and uses are vital for the development of energy projects.

Bank of Ghana suspends CBG’s foreign exchange trading license

It attributed the decision to some breaches of the foreign exchange market regulations, including Updated Guidelines for Inward Remittance Services for Payment Service Providers dated November 2023.

Rand hits R18 to the dollar as ‘Trump trade’ bites

He stressed that the timing and implementation of these policies are critical factors.

Interest rate warning for South Africa

Locally, the South African Reserve Bank (SARB) Monetary Policy Committee (MPC) is expected to deliver its final rate decision of 2024 later this month

Heritage Bank: NDIC Begins Loan and Asset Recovery to Settle Uninsured Deposits

The corporation utilised Bank Verification Numbers (BVN) as unique identifiers to process payments directly to alternate bank accounts

Kenya’s central bank to hold next rate-setting meeting on Dec 5

At its last meeting in October, the bank slashed its benchmark lending rate KECBIR=ECI to 12.00%, down from 12.75%, in a move aimed at stimulating credit to the private sector.

FX appetite drives up mutual funds assets by 81.5 % to N3.5trn

This growth rate is also coming at the backdrop of the high interest rate on fixed income instruments and the upward performance of the stock market, as well as increased awareness on benefits of Mutual Funds.

Big changes for ID and passports in South Africa coming

The revenue authority is also working with Home Affairs to issue instant visas

Goodbye spam? New rules could free consumers from daily deluge of unwanted calls

Consumers should register on a new ‘opt-out’ registry to block ‘intrusive’ marketing efforts.

African Alliance customers seek payment after NAICOM takeover

A regulator must be very proactive in issues of such nature.

FNB and Nedbank respond to hacker claims

MyBroadband contacted all five banks to ask whether they had detected any breaches or suspicious activity on their systems.

Afreximbank, Woodhall Sign $25m Facility to Support Export Businesses

Stressing the importance of the collaboration with the financial advisory firm, Awani disclosed that around 60% of SMEs struggle with access to finance.

Africa’s increasing finance gap keeps World Bank, IMF, G20 awake

Despite these critical issues, concrete solutions remained limited, with progress on key topics advancing only incrementally.

Regulation,Tax & Compliance