Managers of Wealth Africa

SEC Reiterates Commitment to Financial Inclusion Drive

The products and services he stated, must meet the needs of individuals and businesses and must be delivered sustainably and responsibly

On the Back of Inflationary Pressure, Banks increases Maximum Lending Rate to 27.79%

The hike in MPR was the first time in two and a half years that the policy-setting committee of the nation’s financial regulator would increase the rate.

South Africans can get ‘retirement visas’ for these 3 countries without having to buy property

They allow applicants to continue to work remotely and, unlike the current RBI and CBI schemes, they do not require applicants to buy real estate.

South Africa expected to break inflation ceiling this week – as more interest rate hikes loom

These inflation figures, which are not unique to South Africa, are expected to be felt across the global markets as central banks look to rate hikes to bring them under control.

CBN, Banks and Multifunctional Uses Of eNaira

It is on record that globally, after the first Central Bank Digital Currency (CBDC) known as Sand Dollar was launched by the Bahamas in October 2020, Nigeria came second barely a year after with the launch of the eNaira.

ARC Group and African Bank provide drought insurance payout to Zambian Government

This will enable the timely emergency response activities in communities affected by drought, through the provision of cash transfers and food assistance to ensure food is available for the targeted households during the lean season period

Worsening Insecurity in Nigeria Worries IMF

The fund in the statement noted that Nigeria’s economic recovery continued to gain strength on the back of services and agriculture with GDP growth reaching 3.6 percent (y/y) in first quarter 2022.

StanChart reports doubling of fraud threats in one year

The bank also laid off four employees last year as it stepped up its efforts to reduce fraud-related cases carried out by its staff.

FG Raise N2.28trn Bonds, $4bn Eurobonds to Bridge 2022 Budget Deficit

NGX had explained that it continued to thrive as a multi-asset securities exchange providing access to a diversified range of assets including equities, fixed income, Exchange Traded Products (ETPs).

AfDB and Mozambique Prepare Strategy for Economic Recovery With Over US$1 Billion Investment Portfolio

The event, which also covered the new Country Strategy Paper 2023-2027 and a review of the ADB’s portfolio of projects in Mozambique, was attended by several national and international economists and investors.

Ghana central bank official urges vigilant fiscal, monetary actions

Philip Abradu-Otoo, Director of Research at the Bank of Ghana, made this call during a training session Friday for groups of business and financial journalists.

Nedbank manager loses job after signing her own R28,000 expense claims

Nedbank took the decision to the labour court to have it reviewed and set aside.

Zenith Bank Surpasses 10 Other Companies in N92.71bn Unclaimed Dividend

Unclaimed dividend is to be paid by the company as and when demanded and hence is a liability for the company.

Three Nigeria banks fined N13.5 million for default filings of financial statement for 2021/2022

The Exchange in its X-Compliance report explained that the initiative was designed to maintain market integrity and protect the investors by providing compliance-related information on all listed companies.

World Bank sees Kenya's economy slowing to 5.5 percent

The country's growth will also be dampened by high commodity prices triggered by the war in Ukraine that is driving inflation in the country.

IMF worried about impact of South Africa's growth outlook on poverty

Recovery from the pandemic has been uneven across sectors

Emerging markets with twin 4% deficits to hit record - Fitch

Tunisia, Kenya, Uganda, Rwanda, Romania and the Maldives will reportedly record deficits of at least 7%

COFI will expand the regulatory net for lenders

FAIS regulates the conduct of FSPs, however loans are not currently considered to be “financial products”. Accordingly, financial services rendered in respect of loans fall outside of FAIS.

Uganda's central bank raises key rate to 7.5pc to curb inflation

The annual headline inflation and core inflation are now forecast to average at 7 and 6.1 percent respectively in 2022, which are higher than earlier projections.

Traders in Kenya feel pain of dollar shortage

The Ugandan shilling depreciated by $0.00002, Tanzanian shilling by $0.00001, while the Rwandan franc has fallen by $0.00003.

Regulation,Tax & Compliance