Managers of Wealth Africa

Cashless transactions call for an end to printing banknotes

Extending the reach of financial services in emerging markets is a challenge and opportunity for traditional banks.

The new way scammers are picking their targets in South Africa

Banking fraud contributed to 45% of these incidents, followed by the microfinance sector at 19% and retail at 14%.

Nigerian banks remain resilient amid new policy

Banks are working to raise over N4 trillion to meet the CBN’s new capital requirements

More than half of banks would not require recapitalisation – World Bank

The Capital Adequacy Ratio was also relatively high at 13.9% in December 2023

South Africa’s big push to get off the grey list

FATF added South Africa to its list in February last year

Sharp rise in fx utilisation in Q1 ‘24

The expansion in Q1 represents the strongest q/q growth since Q4 ’21.

Sustained tightening amid heightened inflationary pressures

The committee voted to increase the Monetary Policy Rate

Central Bank of Kenya cuts rates by 25bp

First reduction in more than four years comes as inflation declines and CBK issues new banknotes

Nigeria Approves First Banking Merger Under New Capital Rules

Nigeria’s banks are striving to meet the new thresholds after the CBN lifted capital requirements tenfold in March.

Impact of climate change is severe on Africa – German Ambassador to Ghana

They have caused all this trouble and Africa has only contributed around four to five per cent of all greenhouse emissions so far.

Major South African bank hit with R210 million fine

The bank received administrative sanctions from the Prudential Authority under the Banks Act, Financial Sector Regulation Act, and Financial Intelligence Centre Act.

South Africa to dodge the R-bullet

A technical recession is two consecutive quarters of negative growth, meaning that South Africa will avoid a recession with a slight improvement in Q2.

Standard Bank warning for banking customers in South Africa

According to Standard Bank, older South Africans are at risk, with scammers targeting older people who are approaching retirement

Bank Chairmen, CEOs Divided Over FG’s Forex Windfall Tax

The association clarified that the views expressed by some chairmen in support of the tax are personal opinions and do not represent the stance of the entire banking community.

Egypt Seeking to Boost Africa’s Financial Resources from International Institutions

The meeting, hosted by the International Monetary Fund and World Bank Group governors, aimed to identify ways to accelerate intra-African trade as a catalyst for sustainable economic growth.

African Central Bank gov seek $120bn IDA21 replenishment to combat climate change, others

The meeting rationalised that these considerations are more important at a time when countries are being assailed by adverse exogenous shocks and facing immense financing needs.

Afreximbank and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) to host international Compliance Forum for Africa

One of its critical mandates is to identify and verify UBOs to ensure transparency and accountability in financial transactions.

Regulation,Tax & Compliance