Managers of Wealth Africa

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.

Nigerian banks set for aggressive dividend payouts amid new capital rules – EY

With the latest recapitalisation exercise by the Central Bank of Nigeria and the subsequent exclusion of retained earnings from minimum capital, banks in Nigeria need at least N4 trillion to remain in business.

African Development Bank rapidly exceeding climate finance targets

Adesina, Banga, and other global leaders highlight urgency of collective effort to scale up finance to support developing countries hit by climate change.

Unemployment warning for South Africa

This tallies the official unemployment rate at 7.9 million people and the expanded unemployment rate at 11.7 million.

Nigeria aims to boost trade, investment with G-24

Their collective aim is to collaborate in aligning their stances on issues related to international monetary policy and development financing.

Nedbank bosses also in R400m payday

Nedbank says the following caused the sizeable increase in pay: “the share price appreciation of 67% from the award in 2021 to the end of 2023

N80bn money laundering: FG places Yahaya Bello on watchlist, immigration alerts DSS

The EFCC declared Bello wanted on its official Facebook page after failed attempts to arrest him on Wednesday in Abuja.

SARS vs Capitec – what the Constitutional Court ruling means

SARS had argued – successfully up until the Supreme Court of Appeal – that supply of the loan cover did not constitute a taxable supply because it was offered for no consideration (free of charge).

The big issue hitting the rand and interest rates in South Africa – and it’s not the elections

Not all central banks have an explicit dual mandate.

SEC to boost market confidence at CMC meeting

The CMC is an industry-wide body comprising the SEC, capital market operators, trade groups, and other stakeholders.

World Bank backs Central Bank of Kenya interest rate hike

The shilling has been the biggest gainer among currencies in Sub-Saharan Africa on a year-to-date basis

Warning for directors in South Africa

This was outlined by legal experts at ENS Africa, Wandile Ndabambi and Atlegang Raganya, who said that this is stipulated in black and white in the Pension Funds Act.

Subsidies, tax breaks detrimental to production, says IMF

The report also noted that many countries were ramping up industrial policy to boost innovation in specific sectors

Bad news for interest rates in South Africa keeps coming

That’s prompted traders to erase bets on monetary policy easing in South Africa.

‘Old’ African Bank funders get R600m payout

The total extraordinary payment of R600 million is made up of the R500 million indemnity plus an additional R100 million

Nigerian Banks’ New Paid-In Capital Rules to Spur Equity Issuance, M&A

Some small and medium-sized banks may struggle to raise the necessary capital, leading to increased M&A.

Bank of Ghana’s higher cash reserve requirement for commercial banks is counterproductive – Kwakye

The Central Bank at its last Monetary Policy Committee meeting in March 2024 announced an adjustment for the existing Cash Reserve Ratio of 15%

Uganda taps into Islamic banking market with entry of Salaam Bank

The two countries are among a growing list of Sub-Saharan African states placing greater emphasis on Sharia-compliant financial products as alternative financing

IMF faces push to cut billions in fees for large borrowers

The IMF released a statement last week saying that ‘a number’ of its board members were open to reviewing policies around surcharges.

Regulation,Tax & Compliance