Managers of Wealth Africa

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.

Bank of Ghana mandates centralised forex platform to regulate operations

The Bank of Ghana (BOG) has introduced a centralised online foreign exchange trading platform to promote secure and efficient operations in the foreign exchange market.

Interest rate cuts in South Africa: All signs point to one month

The shift in sentiment was enough to strengthen the rand from R18.40 to R18.20, benefiting from the increased likelihood of a US interest rate.

Addressing Ghana’s financial sector challenges essential to ringfence financial sector stability – IMF

Given the rise of Non-Performing Loans observed over the last year,

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.

Regulation,Tax & Compliance