Managers of Wealth Africa

Karuturi assets on sale as two banks seek to recover Sh1.6 billion

The farm has been previously used to cultivate the cut flower,” said the banks in the notice placed by one of the receivers of the assets.

Reserve Bank hikes rates by another 75 basis points

The level of the repurchase rate is now above the level prevailing before the start of the pandemic.

Bank regulator ‘thinks Telkom chair Moloko has too much on his plate’

Prudential Authority wants the executive to step down as chair of Telkom and focus his attention on Absa, sources say

CBK raises cost of loans to rein in inflation

The new policy lending rate is the highest since November 2019 when it was pegged at 9.0 per cent at a time when the now scrapped interest rate controls were still in force.

Major lifeline thrown to Eskom

Diesel is needed to fuel Eskom’s open-cycle gas turbines, used to produce electricity during peak periods of demand across the nation. The turbines can cover around two stages of load shedding.

Old Mutual launching new bank in South Africa in 2024

The group already has existing lending and transactional solutions – an unsecured lending product and the Old Mutual Money Account – with the latter handled through a partnership with Bidvest Bank.

Access Bank disowns fake news on association with cryptocurrency platform

A statement by the Bank’s management dissociated the financial institution from the information pushed out by a fictitious webpage

Deal signed for $5bln floating LNG facility in Nigeria

Facility expected to process 176 million standard cubic feet of natural gas per day

UBA Group boss Alawuba commits to fostering economic devt, partnerships with Uganda

UBA Uganda commenced operations in 2008 starting with the opening of the main branch on the Kampala-Jinja Highway in Kampala

A Caribbean-Africa partnership is happening finally, and it’s a terrific development

The MoU signing between Africa Import-Export Bank and the Ministry of Bahamas seems to be a good beginning to new relations with like-minded countries which are bearing the brunt of Western diktats

Transformation laws without end

Instead of giving his stance on the question, Nxesi said that transformation laws, such as the Employment Equity Act (EEA), would remain in place until such time as its main goals were achieved.

What to expect from the interest rate hike in South Africa this week

Investec chief economist Annabel Bishop is the only panellist who says the SARB will and should increase the repo rate by 100 bps.

Reserve Bank talks up ‘digital rand’ for South Africa

Prioritisation was given to the FSB’s Roadmap, which aims to enhance cross-border payments by improving cost, speed, access and transparency.

Banks alter business hours to beat deadline for old currency notes

Customers seek extention of deadline

Titan Trust Bank mandatorily takes over Union Bank

On successful completion of this Mandatory Takeover Offer, UBN shares will no longer be traded on the Floor of the Nigerian Exchange Limited because it would be delisted.

Govt hikes public sector wage offer to an effective 7.5%

Next week the union will be joined in another day of action by public service unions affiliated with the Congress of SA Trade Unions (Cosatu) and the SA Federation of Trade Unions (Saftu).

African Development Bank invests $20 million in private equity fund targeting renewable energy projects in sub-Saharan Africa

Inspired Evolution Investment Management is a well-established fund manager with more than 15 years of experience and a track record of deploying more than $310 million in renewable energy projects in African counties.

Regulation,Tax & Compliance