Managers of Wealth Africa

Safaricom parent faces Sh170bn bill in suit

The applicant is entitled to be paid five–7.5 percent of the total revenue of the PCM product from March 2001 to date of judgment by the second respondent, together with the...interest thereon,” reads the judgment.

World Bank lines up new Sh240bn Kenya funding

The new funding is expected to ease jitters on Kenya’s ability to meet the maturity of its debut Sh320.6 billion ($2 billion) in June by ensuring the availability of hard currency.

United Capital backs CBN on stakeholder collaborations

It also expressed an anticipation of a modest improvement in the valuation of the naira consequent on the effective implementation of the CBN’s reforms.

External debt bulges by Sh450bn in five months on weak shilling

This means that external debts accounted for 74 percent of the additional stock on the public debt.

National minimum wage increases in South Africa

In a statement on Saturday, the Department of Employment and Labour said the new NMW will come into effect from 1 March 2024

Nigeria central bank governor says dollar liquidity improving

Dollar shortages are a major constraint in Africa's largest economy

CBK in major operation to stop aggressive dollar bids

CBK governor Kamau Thugge on Monday met bank CEOs and senior staff from treasury department in which he sought to reassure them of access to dollars

FG to sanction online banks over customers rights violation

The FCCPC boss noted that such actions, which breach the regulatory guidelines, were not acceptable methods for debt recovery.

Rise in core inflation raises jitters ahead of CBK interest rate verdict

CBK data shows that core inflation edged up to 3.6 percent in January 2024 from 3.4 percent in December, a three-month high rate.

Treasury gets new cash cow in climate financing billions

Funding from the facility is expected to replace previous budgetary allocations on the financing of climate-related infrastructure, including the development of clean energy and afforestation.

Citibank to make disclosure over Safaricom cash call funds

Citibank had opposed the application stating that the CAJ had no powers to grant such orders.

Bank of Ghana cuts policy rate to 29%

Ghana’s inflation rate was 53.6 per cent in January 2023, but reduced to 23 per cent in December 2023.

Warning for interest rates in South Africa

This came after inflation stayed within the SARB’s inflation target band of 3% to 6%, easing to 5.1% in December from 5.5% in November and 5.9% in October.

Strong case for permanent income grant despite South Africa’s money problems, says Ramaphosa

The National Treasury has tried numerous times to shut down the unfunded grant but has repeatedly had to re-introduce it

Nigerian exchanges face licensing hurdles as analysts urge SEC guidelines overhaul

Kue Barinor Paul, a Nigerian Web3 legal representative, said that Nigerian crypto exchanges and VASPs would likely have to merge to afford the SEC license requirement.

Kenya in tight spot as EAC, European trade deals clash

This has left Kenya in an awkward position

A reduction in FGN’s fiscal deficit

The data is published by the CBN but sourced from the Office of the Accountant-General of the Federation.

New law discourages investment in renewable energy

The change of policy came after a task force appointed in 2021 by former President Uhuru Kenyatta to look into the high cost of electricity for end-consumers

African Development Bank Group and Ethiopia Resolve to Normalize Relations

Consequently, the African Development Bank withdrew all its international staff from Ethiopia.

Africa in debt spiral as restructuring efforts drag on

The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development

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