Managers of Wealth Africa

FG to boost Internet speeds in Ogun, Edo, others

It highlighted that nations gain unprecedented benefits in speed, reliability, and future scaling when they build modern broadband infrastructures.

NOVA Merchant Bank raises salaries by 50%

Meanwhile, the bank has announced the commencement of its 2024 NOVA Graduate Trainee Program this month in Lagos.

Kenya, Ghana and Zambia currencies seen under pressure

LSEG data showed the cedi trading at 11.9200 to the dollar on Thursday, compared to 11.9000 at last Thursday's close.

Meta appoints Dentons to new EMEA Panel

The firm's global relationship with Meta has developed through years of collaboration.

When to expect interest rate cuts in South Africa

Global inflation and interest rates are trending downward after hitting a peak in the latter months of 2023, and many anticipate the US Fed to be eying a move lower for rates within the first half of the new year.

African Bank Data Breach: Unverified Claims of Customer Data on Sale

The threat actor alleges that the threat actor has complete access to various sections of the bank's database.

Interest rate relief for South Africa is coming

Bishop noted that the SARB’s monetary policy committee (MPC) has communicated its preference for CPI inflation to consistently average around 4.5% y/y before it starts cutting rates

Nigeria's Central Bank Approves cNGN Stablecoin Launch amid CBDC Concerns

cNGN will go live on February 27, 2024.

Google storage charges up 19pc for Kenyan users

This means that the cost of obtaining more space for services like Google Drive, Gmail and Google Photos among others, is set to go up by Sh400 starting Friday.

Early blow to the rand

Although the policy rate is likely at or near its peak for this tightening cycle, rates will still depend on the economy’s evolution.

Kenya company directors face shake-up in CMA reforms

“Going forward, Regulation 2(1) of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations 2023 provides that a director shall cease being independent after six years of continuous service,” said the CMA.

GUTA urges government to strengthen economic stability in 2024

He said the business community would not want to experience the conditions of businesses in the last quarter of 2022

Companies flouting ESG rules to miss IFC funding

ESG standards are considerations on how companies’ business practices impact the natural environment, the people around them, and their employees in the pursuit for profits.

Regulator shocks 20 Kenyan insurers with record fines over breaches

The regulator had in the preceding financial year penalised 10 insurers Sh56.9 million, which was an increase from Sh17.6 million in 2020 and Sh2.7 million in 2019.

Crypto progress in South Africa

This also led to the FSCA conducting an in-depth study of the crypto industry and its potential risks to South Africa’s economy and financial sector.

Nigerian central bank lifts ban on crypto trading

In a circular released recently, the CBN said current trends globally have shown there is a need to regulate the activities of virtual asset service providers (Vasps), which include cryptocurrencies and crypto assets.

Absa Bank Botswana : Closed Period Announcement

Employees are prohibited from dealing in the Bank's securities until the announcement of the final year-end results.

AfDB approves trade finance facility to Bank of Africa Tanzania

The Bank will provide a guarantee to confirming banks for the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments issued by BOAT.

Access, UBA, Wema, GTB, Zenith, Others Announce New Closure Time, Plan To Shutdown Branches

Notice of Early Closure on December 29, 2023.

Kenya seeks higher rating in fight against dirty cash

“In this regard, Kenya has filed a request with the ESAAMLG for Technical Compliance (TC) re-rating as a result of these amendments,” said Treasury.

Regulation,Tax & Compliance