Managers of Wealth Africa

FIC clamping down on businesses in 2025

The requirement for filing RCRs is integral to ensuring that the country’s businesses are aware of how they can be used for laundering proceeds acquired through criminal activities.

Interest rate warning for South Africa

Bloomberg Economics projects its aggregate measure of advanced-world interest rates to drop just 72 basis points in 2025, less than it did in 2024.

Ethiopia Central Bank Raises Credit Cap to 18% from 14%

The Committee “recognized the disinflationary trend in the latest monthly inflation data

Heavy penalties in store for FIC non-compliance

Institutions that have not submitted risk and compliance returns could be penalised up to R50,000

Ethiopia, World Bank sign a $700M financing agreement to strengthen the financial sector

The financing supports the government’s recent bold reform to modernize and liberalize banking operations in the country.

Zero to hero for the rand

South Africa’s carry appeal remains strong as inflation and expectations stay anchored

Naira weakens to 1,541/$

The naira had recorded a 40.9 per cent depreciation in 2024 when compared to the official rate at the close of 2023, which stood at 907.11/$.

South Africa’s biggest bank hit with sanctions

It also failed to comply with cash threshold reporting (CTRs) to the Financial Intelligence Centre (FIC) with missed deadlines.

Zero to hero for the rand

Developing-nation currencies have struggled in 2024 as robust US economic growth bolstered the dollar.

Capitec nailed by Reserve Bank over FICA violations

The sanctions consist of seven cautions, one reprimand and a financial penalty totalling R56.25 million

China and Nigeria Renew Currency Swap to Boost Bilateral Trade

The facility will help strengthen financial cooperation and expand the use of the two currencies, the People’s Bank of China said in state

Telcos threaten service cuts over rising costs

Service shedding in telecommunications refers to the deliberate reduction or limitation of telecom services in specific areas

Warning over rise in online counterfeit products in South Africa

Consumers are being lured by the convenience and affordability of these platforms, but they often fall prey to scams and fraudulent activities.

Truecaller scam warning for South Africa

It thus explored some of the most common types of phone scams that occur around the holiday season and provided someone with tips on how to protect themselves.

Free trade zones will boost exports, FG assures manufacturers

Oduwole made this assertion while addressing concerns by local industrial stakeholders at a recent press briefing in Lagos

Improve regulator-industry engagement, experts urge govt

These groups form a bulk of the organised private sector, representative of hundreds of thousands of businesses, including Small and Medium Enterprises.

East African banks face low revenues over reducing interest rates

Uganda’s Central Bank held in its policy rate steady at 9.75 percent for December 2024, buoyed by a strong policy bias towards lower lending rates and a stable exchange rate

Why govs demanded further talks on tax bills – Makinde

Makinde also clarified that he was not opposed to the tax reforms but only presented the reservations raised by the governors to the press.

NAICOM vows to ensure compliance with regulatory standards

This, the Commission believes will enhance the ease of doing business and drive insurance growth and development.

Nigeria: Naira again depreciates to dollar in the parallel market

Data from the FMDQ Exchange further revealed a marginal depreciation in the Nigerian Foreign Exchange Market

Regulation,Tax & Compliance