Managers of Wealth Africa

Dark clouds gather for South Africa as IMF cuts growth outlook

The government has taken some measures to address these problems

IMF reviews Nigeria’s economic growth to 3.3%

The updated forecast marks an increase of 0.3 percentage points from the previous 3.0 per cent growth prediction published in the IMF’s January 2024 World Economic Outlook.

Persistent upward trend in inflationary pressures

We turn our attention to the drivers of February's inflation reading following the release of the price watch series by the National Bureau of Statistics.

World Bank forecasts 3.4% growth in SSA for 2024 amid persistent inequalities

The report highlights a decrease in external resources available to African governments, rendering fiscal situations more susceptible to global economic disruptions.

Absa sees growth in digital uptake

Absa Bank Botswana realised growth rates of seven and 50% in the number of digitally active customers in its Retail and Business Banking segments last year

Work-from-home under pressure in South Africa- but these jobs are still holding out

With the restriction on movement, workplaces across the country shifted from office settings to remote work arrangements.

‘Nigerians should utilise mortgage financing to tackle housing deficit’

Akande stated that seeking a mortgage is a better option than taking out shark loans, which can cause undue stress.

South Africans are digging themselves into a hole

Nominal compensation grew by 0.5% qoq and 6.8% yoy in Q4 2023 but dropped by 0.9% qoq, albeit still up 1.3% yoy, in real or inflation-adjusted terms.

Zimbabwe set to announce fate of local currency after 73% plunge

The Zimbabwe dollar traded at 22 476 against the greenback, taking its losses this year to 73%, the world’s second-worst performance only after the Lebanese pound.

An aggressive rate hike by the MPC

In response to the prevailing inflationary environment, the committee aggressively addressed rising inflation and excess money supply in the financial system.

The three issues that South Africa needs to address to boost the economy

Traditional productivity measurements only provide a retroactive view of productivity, lacking the forward-looking to inform policy making.

The Road to Recovery

The IMF emphasized the significance of the Nigerian authorities' capacity to efficiently handle the nation's external financial commitments.

FY ’23 CIT collections outperforms 2023 budget CIT revenue projections

It is also worth mentioning that the data is compiled by the NBS from data provided by the Federal Inland Revenue Service (FIRS).

Ghana economic growth improves in Q4, but slows to 2.9% in 2023

The annual growth rate was higher than the 2.3% estimated by the International Monetary Fund in January, but was still significantly slower than 3.8% growth in 2022

African companies are growing rapidly.

The first is a representative company in Nigeria, a West African gateway and resource-rich country.

Rand hits R19 to the dollar as interest rates drag

A cut in interest rates in the United States would typically soften the dollar, giving some ground to currencies like the rand.

What to expect for interest rates in South Africa next week

He also said the bank won’t succumb to election pressures as the country prepares to vote on 29 May 2024.

Persistent inflationary pressures

The elevated reading reflected an acceleration in the food and core readings

South Africa's banks need to get better at cost controls

Progressive banks that drive costs down sustainably focus on ideas implementation and prioritisation – thus a high-velocity pipeline that delivers results

South Africans are living in recession

Economic growth was flat in the last quarter of 2023.

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