Managers of Wealth Africa

African Bank cutting jobs in South Africa

This comes as the Johannesburg-based lender faces financial strain and instability in its C-suite, with its CEO and CFO having resigned in the span of six months.

High Court shuts down R35 billion Vodacom deal

“The divestiture in question was undertaken and procured in contravention of the constitution and the law. It was therefore invalid, null, and void,” they said.

Mozambique’s Foreign Reserves Fall to 14-Month Low of $3.4bn

The central bank’s latest Monthly Statistical Information Summary shows that reserves declined by approximately $27 million from the $3.4 billion recorded in June.

Kenya Targets Systemic Banks With Higher Capital and Liquidity Requirements

The regulator designed the framework for institutions whose failure could trigger cascading disruptions across the financial system and the real economy.

Warning to South Africans getting their pension from outside sources

Banks typically don’t charge visible fees; instead, they incorporate their margins into the exchange rate, creating a hidden cost known as the spread.

Capitec hit with R28 million in fines for five different financial-crime compliance failures

The PA found that Capitec failed to conduct adequate due diligence on sampled client files, as required under section 21 of the FIC Act.

We must avoid return to grey list — Deputy Governor

The task force had previously warned that the loss of correspondent banking relationships can hinder trade, increase financial exclusion and push transactions towards informal channels.

World Bank Suspends ACS for 29 Months Over Terra Segura Fraud

According to a World Bank statement, ACS secured two contracts under the project as part of a joint venture.

South African lender FirstRand forecasts high single-digit growth in net interest income

FirstRand said its provision for the motor commission issue stood at £807 million ($1.09 billion), accounting for the regulator’s final decision in March.

Strict BEE laws in South Africa declared invalid and set aside

The new rules faced immediate backlash from the property sector

Reserve Bank says South Africa is ready for shocks

South Africa formally lowered its inflation target to 3% in November, with a 1-percentage-point tolerance band, replacing the 3% to 6% range that had been in place for 25 years.

African Development Bank Group and African Forum of Deposit Funds Enter into New Alliance to Mobilize More Long-Term Financing

The two partners are joining forces in Cotonou to boost productive investment and strengthen economic resilience across Africa.

CBN reforms drive stronger IMTO FX inflow

According to the CBN’s latest Quarterly Statistical Bulletin (QSB), foreign exchange (FX) inflows into Nigeria through International Money Transfer Operators (IMTOs) declined by 8% q/q to USD1.3bn in Q1 ’26. The sequential contraction reflects

Benefits of Nigeria’s economic stability coming to Nigerians soon — CBN

The CBN Governor, Olayemi Cardoso, gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja.

Mozambique Launches US$128M ‘Jobs Now’ Programme to Tackle Unemployment

The new programme is designed to operate in coordination with existing public instruments, including the Catalytic Fund, Emprega, ProJovem, Promulher, and Acredita Emprega.

South Africa’s middle class is turning to a last resort

When the two-pot retirement system was introduced, many had assumed that withdrawals would be evenly distributed across all income groups, Portrag said.

African Development Bank Group launches up to USD 5.1 billion response plan to offset energy and fertilizer shocks in African countries

The Bank’s new Global Energy and Fertilizer Crisis Response Framework gives us a way to respond to the pressures African farmers are facing as the conflict in the Middle East disrupts global trade

Regulation,Tax & Compliance