Managers of Wealth Africa

Facts don’t support Trump’s reasoning for a 30% tariff on SA

The average tariff applied to US imports entering South Africa are closer to 7.5% than 60%. This effectively means the end of Agoa.

Auditors lack appropriate professional scepticism and professional judgement

These recurring deficiencies impact the quality of audits.

Kenya: Mwalimu sacco foregoes $62mln put in Spire Bank

Currently the lender is awaiting a liquidator’s hammer, though, in a move that would fold it up completely

Nedbank warns South Africans with banking apps on their phones

Nedbank stressed that South Africa’s high crime rate makes it vital that you secure your belongings, whether at home or in public.

Absa discloses increase in minimum pay of nearly R21,000pm

Banker ‘monitoring remuneration to ensure it’s fair and responsible in terms of race, gender and role’

DA rejects ‘Vat budget’ during parliamentary deliberations

Mark Burke, finance spokesperson, says he was mandated to amend the fiscal framework ‘by taking out the Vat increase’.

Navigating your retirement fund options on retrenchment

The introduction of the two-pot retirement system adds new considerations.

Telecom regulators eye shift from diesel to green energy

West Africa has the opportunity to lead in green telecommunications by promoting energy efficiency

Ramaphosa signs critical new laws for South Africa

Among other reforms, the new law disestablishes the current State Security Agency as a national government department and replaces it with two separate departments.

W’Bank to approve Nigeria’s $632m loan request today

These new loans form part of a broader strategy by the World Bank to support Nigeria’s development agenda, focusing on healthcare, education, and community resilience.

Proposed law to deepen insurance industry to N5tr

The Bill, which will repeal several outdated insurance laws, brings a thicker sense of compulsion and enforcement to insurance

NGX, African Exchanges call for reforms to drive market growth

Exchanges must embrace blockchain-driven solutions, tokenized securities, and digital assets like stablecoins to attract capital and remain competitive.

Heritage Bank Depositors Urge National Assembly to Intervene in CBN Revocation

“Some depositors have died from heart attacks, while others are hospitalized. We are at a loss, and our families are suffering,” they stated.

PenCom mandates states to implement CPS

As such, state governments are required to domesticate the CPS by enacting appropriate pension laws within their states.

Defunct UT bank: Many Ghanaians still owe me – Kofi Amoabeng

In an interview with Bernard Avle on The Point of View on Channel One TV on Monday

Five Nigerian banks make progress in recapitalisation efforts

The banks have ramped up fundraising initiatives to strengthen their financial positions, boosting investor confidence and reinforcing stability in the banking sector.

CIBN inducts 1,270 professionals as Alade calls for banking innovation

Addressing the inductees, Alade described the ceremony as the beginning of an elevated professional journey, urging them to go beyond routine banking practices and become transformative leaders.

Reserve Bank holds interest rates

This keeps the repo rate at 7.50% and the prime lending rate at 11.00%.

Important warning to all South Africans with a bank account

The centre noted that the latest wave of scams is particularly concerning, as fraudsters use deepfake videos, voice cloning, and AI-powered chatbots.

Discovery Bank warns South Africans of new police scam

Discovery Bank stressed that the SAPS would never ask for money to investigate or drop a case, and the calls often come from private numbers, which is not normal.

Regulation,Tax & Compliance