Managers of Wealth Africa

Weekly Economic Review: Central Bank Holds Rates, AfDB Forecasts Recovery, and LNG Boosts Mozambique’s Role

These developments come amid rising external uncertainty, inflationary pressures, and expectations of a gradual economic recovery.

Diaspora Bank Customers Exempted from Fayda Rule After Account Restrictions Disrupt Banking Services

Customers who failed to meet the deadline faced restrictions on withdrawals, transfers and other outgoing transactions.

Ethiopia authorizes commercial banks to issue permits for exports to China

In a move aimed at streamlining the East African country's foreign trade sector, enhancing competitiveness, and creating a more accessible environment for exporters, the bank noted that it has officially lifted the previous restriction.

Labour Department responds to fraud allegations

It also covers medical expenses and lost income for employees while protecting employers from direct financial liability regarding workplace accidents.

FSC intensifies reforms to strengthen Ghana’s financial system

As part of the reforms, the Council adopted recommendations from the World Bank to improve how it operates, make its work more visible, and strengthen coordination among its member institutions.

Bank of Ghana suspends proposed MTN MoMo-to-bank transfer fee

The fee would have applied even when customers transferred funds between their own registered MoMo wallet and their own bank account, a service previously provided at no cost.

Central Bank Dismisses Impact of US$701.4 Million Payment to the IMF

Finance Minister Carla Loveira revealed that the Government used the country’s Net International Reserves (NIR) to repay the debt to the IMF, guaranteeing that the decision did not compromise state institutions.

Ramaphosa signs new rules for businesses in South Africa into law

These policies must be approved every three years, or sooner if material changes are made. Companies will not be allowed to implement changes to remuneration policies until shareholders approve them.

High borrowing costs threaten banks’ credit expansion

Although exchange rate stability remains the apex bank’s primary focus, the prolonged high-interest-rate environment is increasingly slowing corporate lending and credit growth, JIDE AJIA reports

Taxpayers warned of new criminal tactic to hit their bank accounts in South Africa

The scam is particularly dangerous because it exploits South Africa’s current tax environment, as SARS is becoming more aggressive in collecting unpaid taxes.

Investors warned to stay away from this company in South Africa

The regulator said the CEO told the FSCA that she had only traded on behalf of family and friends and not for the general public.

Ghana central bank pauses easing cycle with a rate hold at 14%

The decision was in line with a Reuters poll of analysts who had expected the bank to keep the rate unchanged.

Top 7 audit firms rake in N37 billion from NGX-listed companies in 2025

In 2025, seven audit firms generated a combined revenue of N37.08 billion, up from N28.76 billion in 2024.

Ghana seeks $53.3b to implement 10-year climate action plan

The revised framework, prepared under Article 4.2 of the Paris Agreement, outlines Ghana’s climate ambitions across key sectors including energy, transport, industry, agriculture, forestry, water, and health.

New Woolies boss faces urgent to-do list

A decision on Country Road looms large, while Checkers simply cannot be underestimated …

African Development Bank Group debars Esiko Kenya Enterprises Limited and two others for Fraudulent Practices

The project aims to cover the entire country with selected transformers in its forty-seven counties.

Reserve Bank and Treasury respond to people holding crypto assets in South Africa

One of the more meaningful developments is the formal treatment of crypto assets within the exchange control framework.

International bank calls it quits after three decades in South Africa

This includes the Currency and Exchanges Manual for Authorised Dealers and the Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority.

SEC issues guidance for capital market Transition to T+1 Settlement Cycle

The transition is part of the Commission’s broader market modernization agenda aimed at improving liquidity and aligning the Nigerian capital market with international best practices.

Absa weighs joining yuan platform on thriving China-Africa trade

To take advantage of growing trade with Africa’s biggest trading partner.

Regulation,Tax & Compliance