Managers of Wealth Africa

IMF cautions FG against CBN Act amendment

The position of the Fund was contained in the Article IV Staff Consultation Report of the Board of Governors of the global organization, which was released in Washington, yesterday.

Hijackers have a new target in South Africa – risking insurance premium hikes

The 2023 rise comes after 35% growth the previous year, taking the total to R55 billion in 2022.

‘Tap to pay’ warning for South Africans

South Africa’s sophisticated banking system has allowed consumers and businesses to use a variety of payment methods, with many using digital payment methods.

Ramaphosa signs election bill into law – including changes to donation rules

The legislation, passed by Parliament in March and signed by Ramaposa on 7 May 2024, amends the Political Party Funding Act.

CBN directs banks to suspend charges on deposits till September

The apex bank disclosed this in a circular dated May 6, 2024, signed by its Director of Banking Supervision, Adetona Adedeji.

FG eyes $750m W’Bank loan, mulls telecom tax

President Bola Tinubu in July 2023 ordered the suspension of the five per cent excise duty on telecommunications and the Import Tax Adjustment levy on certain vehicles.

CBN inaugurates West Africa workshop for effective project management

Insurance Sector: Tasks Before Omosehin

Since the announcement, industry operators have been expressing their confidence and trust on him as the right candidate for the job.

Banks close 2m accounts over BVN, NIN, others

A bank account is classified inactive when it records zero transactions including deposits, withdrawals, transfers or point-of-sale transactions for six months.

Black Business Council revives calls for putting African Bank in black hands

Motsuenyane, who has been hailed as the father of African Bank and a black business pioneer, passed away on Monday at the age of 97 after a long battle with illness.

Uganda to get $295m loan from Saudi's Islamic Development Bank

The move underscores Uganda's efforts to diversify its sources of external funding, as talks with the World Bank to resume lending have dragged on without fruition.

UAE, Kenya join hands to boost digital cooperation

Kenya has become increasingly attractive to data centre providers, driven by growing demand for cloud services, improved business conditions

UAE-Kenya deals: ADQ to establish investment framework

In 2023, non-oil trade between the UAE and Kenya rose by 26.4 percent year-on-year to $3.1bn

Stanbic IBTC Holdings to raise N550bn via debt, rights issue

Several players in the banking sector have announced plans to raise additional capital to meet the new capital requirements of the Central Bank of Nigeria.

Shareholders approve $1.5bn capital raising for Access Holdings

The shareholders also ratified the appointments of Aigboje Aig-Imoukhuede, Olusegun Ogbonnewo, and Ojinika Olaghere as Non-Executive Directors.

‘CBN’s moves to stabilise naira laudable’

The President and his cabinet must show the determination to implement change and renew the hope of Nigerians.

IMF Mission to Visit Mozambique Next Month to Assess Macroeconomic Situation

The government is going to discuss in detail the possibility of mobilising resources to strengthen economic resilience, especially in the province of Cabo Delgado

CBN sells $10,000 to each BDC at N1,021/$

This marks the second such intervention this month by the apex bank.

Reserve Bank adds new measures that will impact interest rate decisions in South Africa

The PCCI is higher than core inflation, which stood at 4.9% last month.

Africa's $824 billion debt burden, loans hinder its potential, African Development Bank President warns

He said the continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010.

Regulation,Tax & Compliance