Managers of Wealth Africa

SA's sluggish approach to cyber security regulation laid bare

Biermann added that "there’s no endpoint"" to managing cyber risk.

What higher capitalisation levels mean for Nigerian and Kenyan banks

African bank capitalisation regulations have come under the spotlight once again after two of the continent’s most important central banks, in Nigeria and Kenya, hiked minimum capitalisation levels.

South Africa’s ‘much debated’ amendments to company beneficial interest law go live

Subject of much debate were those amendments aimed at promoting greater transparency

Green ID book relief for South Africa – with Smart ID changes coming

Meanwhile, the new administration is bringing some new ideas—including a “refresh” of the smart ID—while sticking to the exact old timelines proposed by the previous one.

Lending rates drop slightly to 31.10 per cent in June 2024

The Central Bank cited uncertainties about the inflation outlook for the year, influenced by recent exchange rate pressures, increased utility tariffs, and rising ex-pump fuel prices.

SA is changing its retirement rules to help boost country savings

How it will work – with some historical context and a look at how things work in other countries.

Ethiopia's birr drops 30% as central bank floats currency

The Horn of Africa nation, which has been struggling with soaring inflation and chronic foreign currency shortages, became the third economy on the continent in as many years to default on its government debt last December.

Rand takes a hit as the dollar rallies

Investors are also looking to the meeting of the US Federal Reserve this week for indications on its next move on rates.

AfDB’s Akinwumi Adesina briefs African leaders on bank’s progress in mobilising financial resources for the continent

The approval will enable Africa’s only AAA-rated financial institution to preserve its status

Boost for interest rate cuts in South Africa

Core inflation, which excludes volatile food and energy costs, also dropped down to 4.5% in June from 4.6% in May.

Central Bank of Ghana proves viability for its cross-border payments solution

The project is transformational in the respect that it combines tokenization and digital currencies

Nigeria raises rates as inflation continues to rise

Central bank plans to maintain tight policy as food prices prove particularly challenging

These countries are poaching South Africans for jobs – paying up to R2.3 million

With this growth comes the increased demand for critical skills.

Ghana’s economic prospects on track amid reforms – World Bank

The report highlights the steady progress Ghana has made over the past year in addressing severe macroeconomic imbalances that emerged in 2022.

Africa deserves equal treatment, Afreximbank boss Oramah tells IMF

President of Afreximbank, Benedict Oramah, urges African leaders to stand firm against financial inequities.

Banks must fund black entrepreneurs

This disparity not only hampers individual economic empowerment but also stifles the overall growth potential of the country’s economy.

Ramaphosa green lights new pension system for South Africa

The retirement pot will hold the remaining two-thirds of retirement savings and will only be accessible upon retirement.

Banks Allowed to Invest in Capital Market Service Providers

“This strategic decision is anticipated to significantly enhance the role of banks in nurturing a robust and effective capital market ecosystem,” NBE said in a statement.

Impostor account falsely claims Ethiopian bank offering prizes to celebrate high profits

Published on July 15, 2024, the post has been shared more than 6,000 times.

INTERPOL blocks 720 bank accounts linked with online frauds in West Africa

INTERPOL added that more than 160 fraud victims suffered significant financial losses, with some forced to sell their homes or take out large loans as a result.

Regulation,Tax & Compliance