Managers of Wealth Africa

Kenya turns to the Bank of England for gold in a bid to protect its economy

Kenya is currently engaged in negotiations with the Bank of England (BOE) to diversify its foreign reserves by incorporating gold.

The rand should be R7 to the dollar

This was in reference to the World Bank’s purchasing power parity conversion factors.

Discovery Bank warning to South Africans planning to fly this December

The bank also recommends verifying the identity of anyone you’re speaking to or the validity of discount offers

Good news for interest rate cuts in South Africa

The path to a new target usually takes around two years to settle in, during which time the MPC will be more sensitive and cautious around policy moves.

Rand is no longer ‘weak and volatile,’ Kganyago says

For the first time, South Africa now meets ‘all the major reserve adequacy metrics, including the International Monetary Fund’s own measure,’ he said.

Kenya parliament passes crypto asset law to boost investments

Legislators enacted the Virtual Asset Service Providers Bill last week

IOM and African Development Bank strengthen partnership

"This partnership reflects our shared commitment to place migration at the heart of Africa's development," said Mohamed Abdiker, IOM Chief of Staff.

African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime

Mrs. Santos Da-Costa spoke about the work that PIAC has been doing on project integrity reviews in collaboration with the AfDB project managers and the Project Implementation Units of ministries in Regional Member Countries.

FirstRand questions fairness of UK motor finance redress scheme

Some 14m vehicle finance contracts could qualify for compensation, averaging more than R16 000 per case.

Kenya cuts rates again despite mounting price pressures

Inflation climbs to 14-month high in September

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.

Regulation,Tax & Compliance