Managers of Wealth Africa

Kenya’s top bank promises to punish other banks that defy its benchmark rate

The decision by the bank resulted from increased pressure on commercial banks to lower lending rates in line with benchmark rate cuts.

CBN scraps free ATM withdrawals for other banks’ customers

Under the new directive, withdrawals made from a customer’s bank ATM will remain free.

African Development Bank’s Climate Action Window channels $31m to boost climate resilience in four countries

The projects will also benefit from $28.13 million in climate co-financing from sources including the Green Climate Fund.

South Africa’s Reserve Bank faces pressure to recover billions lost in Steinhoff scandal

The Steinhoff matter has never been taken off the agenda.

BoG commends Dr Addison for meritorious service

The statement said the decision of Dr Addison to take his accumulated leave ahead of his retirement had received approval by the President, John Dramani Mahama.

Work hour warning for employers in South Africa

Employers must ensure compliance with the revised minimum wage rates

Afreximbank opens registration for the 2025 Certificate of Trade Finance in Africa

The programme provides in-depth knowledge of international trade finance instruments

Tunisia president sacks finance minister

The presidency gave no further details, nor did it mention outgoing minister Sihem Boughdiri Nemsia.

Banking regulators grilled about racism and discrimination

The regulators and all the major banks were invited to brief the portfolio committee on practices in the banking sector and the regulatory framework.

Morocco Pushes for Stronger African Cooperation in Cybersecurity

The event brings together experts, leaders, and researchers to discuss the critical role of artificial intelligence (AI) and cloud computing in protecting Africa’s cyberspace.

Reserve Bank probed over rand ‘manipulation’, and good news for FlySafair

The dollar last traded about 0.4% weaker against a basket of currencies.

Cyril Ramaphosa addresses Elon Musk over new land law

Last year, Ramaphosa and Musk held talks about potential investments in South Africa, including the billionaire’s Starlink business.

World Bank lifts South Africa GDP forecast on energy, logistics

Warns growth remains insufficient to tackle poverty and unemployment.

Exchange rate appreciates by N63 to seven-month high

Authorised currency dealers quoted the dollar as high as N1,495.01/$ and as low as N1,447.50/$ at the NFEM.

EU grants Eurocham €300,000 for advocacy in Nigeria

The EU’s intervention aims to reinforce Eurocham’s role in policy dialogue and strategic engagement with local governments, policymakers, and business stakeholders.

CBN policies prevented 42.81% inflation in 2024 – Cardoso

He also projected that diaspora remittances would rise to N31.79tn when fourth-quarter figures for 2024 are released.

All signs point to an interest rate cut this week

The decision also comes off the rand somewhat stabilising amid uncertain U.S. trade policies.

How SA’s bold new climate act and labour law can align to drive a just transition

In a hot and troubled world of work

Central Bank Announces Interest Rate Cut to 12.25% and Reduction in Mandatory Reserves

On 27 March, the BoM cut it to 15.75%, on 27 May to 15%, on 31 July to 14.25%, on 30 September to 13.5% and on 27 November to 12.75%.

Opportunities for Africa’s bankers as Ethiopia opens up the sector

The IMF has publicly welcomed Ethiopia’s opening up of banking to foreign investment after decades of protecting it as a strategic industry.

Regulation,Tax & Compliance