Managers of Wealth Africa

South Africa at risk of another own goal

In June this year, the FATF released a report saying South Africa had made ‘substantial progress’ or had ‘mostly completed’ its remedial work.

Moroccan Bank Capital Buffers Strengthen on Enhanced Regulation

Core capitalisation metrics have improved steadily since 2021, supported by more stringent regulation and stronger profitability.

Sub-Saharan Africa Maintains Resilient Growth but Faces Urgent Jobs Challenge

The report outlines a set of policy priorities to help countries stimulate large-scale job creation.

Banks are closing the taps on South Africans

Manufacturing, mining, and trade performed better, while inflation dropped to an average of 3.6%. In June, headline inflation reached 3.0%, which is the bottom of the Reserve Bank’s target range.

Eskom workers demand 15% pay hike

Eskom declined to comment on specific pay demands until negotiations officially start, spokeswoman Daphne Mokwena said in a response to questions.

The rand’s winning streak at risk

The rand has improved from R18.82 to the dollar since the start of the year to its current level of R17.24.

FCMB to strengthen subsidiaries with N160b public offer

Proceeds will be used to recapitalise FCMB Limited and help the lender retain its international licence.

Run on numbers: why cash still rules despite digital growth

Despite the significant progress made to digitise the payments landscape, cash usage in South Africa remains resilient and in defiance of corporate desires.

FNB really, really tightens the screws on eBucks with sudden changes

Changes following its annual overhaul (from July) just four months ago are very uncommon.

African Development Bank Group’s Office of Integrity and Anti-Corruption partners with Special Investigations Unit of South Africa

Mr. Mothibi stated his enthusiasm for the SIU and AFDB collaboration to enhance accountability and the effective use of public funds.

Top bank closing ATMs across South Africa

Standard Bank South Africa’s head of client coverage for personal and private banking, Willie Chavalala, told 702 that many of the bank’s customers have shifted away from relying on ATMs.

Virtual Asset Service Providers Bill makes progress towards parliament – BoG

This bill will, among other things, seek to regulate the activities of cryptocurrency trading and establish a formal structure for their operations and transfer activities as well as custody business.

Banking CEO sends a warning to South Africa

AGOA, which gives duty-free access to some key industrial exports, was first approved by the US in 2000 under the Clinton administration to help sub-Saharan African economies.

Bank of Ghana Tightens Oversight with New Digital Lending Rules

These new digital lending rules from Bank of Ghana are designed to balance innovation with consumer protection, ensuring that only serious and well-structured firms remain in operation.

South Africa going from grey to green

The two nations were put under heightened scrutiny by the Financial Action Task Force in February 2023 for shortcomings in tackling illicit financial flows.

African Development Bank Report Calls for Strategic Reforms to Unlock Botswana’s $116 Billion National Wealth

borrowing. With diamonds accounting for 80% of the country’s export revenue, the report also highlights opportunities for economic diversification and improved natural capital management.

Bank of Mozambique Cuts Key Interest Rate to 9.75%

This marks the tenth consecutive cut since January 2024, totaling a cumulative reduction of 700 basis points.

South African Reserve Bank running out of time

The Reserve Bank and the National Treasury have been in talks to lower the country’s inflation target for months, with no official change announced yet.

South African Post Bank Faces Prolonged Delays in Securing Full Banking Licence Amid Governance and Compliance Hurdles

This hold-up has sparked worries about the bank’s future and its role in helping people without easy access to money services.

African banks brace for Eurobond refinancings amid challenging market conditions

Other banks with upcoming Eurobond maturities include Ecobank, the Mauritius Commercial Bank, and about eight Nigerian banks - among them Access Bank, Fidelity and First Bank of Nigeria.

Regulation,Tax & Compliance