Managers of Wealth Africa

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.

Bank of Ghana sets GH¢2m minimum capital for digital credit providers

Under the new framework, prospective providers must show evidence of the minimum capital in their corporate accounts, supported by a detailed funding plan.

Four banks pay N135bn dividends amid hurdles

Stanbic IBTC Holdings emerged as the highest interim dividend payer, declaring N2.50 per ordinary share of 50 kobo each.

Interest rate uncertainty persists

The future path of US interest rates is unclear, while in South Africa patience will be required, as the transition to structurally lower inflation will take time.

Naira abuse inflates printing expenses, CBN warns

The warning came on Wednesday during the launch of a nationwide sensitisation campaign on proper naira handling, held in Abuja.

MPC signals shift toward accommodative policy

Consequently, the committee lowered its policy rate by 50bps to 27.50%.

Spam calls are killing mobile voice calling in South Africa

This is now under threat as spam calling has become so pervasive that many mobile users avoid answering calls, unless they know the caller.

Recapitalisation: 14 banks meet requirement 6 months to deadline

The CBN governor said the committee also acknowledged the successful termination of forbearance measures and waivers on civil obligors

Regulation,Tax & Compliance