Managers of Wealth Africa

Naspers to cut jobs in South Africa

Van Dijk declined to say how many people would lose their jobs.

Company liquidations surge 30% amid a tough operating environment

Stats SA reveals businesses are reeling from the aftereffects of Covid-19 in the high inflationary environment

Adimike: Banks, FinTechs Must Focus on Rural Areas to Capture 40m Unbanked

He said 40 million people unbanked in Nigeria is a huge number that can even take two countries, adding that FinTechs in Nigeria are not helping the issues because they are majorly concentrated in urban areas.

Africa’s economic growth to outpace global forecast in 2023-2024 – African Development Bank biannual report

African Development Bank’s new report calls for bold policy actions to help African economies mitigate compounding risks

Sterling One Foundation Partners Lagos State to Support the Vulnerable

The foundation in a statement noted that it is an offshoot of the state government’s plan to achieve universal health coverage.

This is where the rand could be heading in 2023

The group’s baseline (most likely) scenario for the country points to relative stability for the rand with the potential for further strength during the course of the year.

Wealthy Kenyans more trusting of the government, says survey

At the World Economic Forum happening in Davos this week, leading economists have predicted a global economic recession this year.

Sim Tshabalala urges SA to be bold in search for new Eskom boss

SA should have the confidence to say it is going to find best person, says Standard Bank CEO

Dark clouds gathering over South Africa

Stagflation refers to a period of economic hardship characterized by stagnant economic growth, high unemployment, and rising prices (inflation).

World Bank projects impressive growth for Senegal in 2023

While the World Bank projects growth in most African nations, critical economies like Nigeria, South Africa, and Kenya will record a slump

Kenya’s private sector sees subdued 2023 on global cues - survey

Only 11% of firms expect output to rise this year, says Stanbic Bank Kenya’s PMI

Global banks see Kenya’s growth dropping below 5pc

Downside risks to the outlook include a ballooning public debt, further interest rate rises and additional unfavourable weather events.

Remittance inflow to Kenya crosses $4bln

Cumulative inflows continue to support current account and forex market

Firms see gloomy 2023 on global slowdown fears

As a result, inventory gains were moderate (in December) and concentrated in the agricultural sector, with declines recorded elsewhere.

SA, Nigeria and Ghana are risks for Sub-Saharan Africa in 2023, says Fitch

Region’s overall growth rate forecast to accelerate mildly in 2023, though inflation is set to remain well above the 10-year average

Private sector salary reviews performance-based, says NECA

The Federal Government had said it would soon announce salary increments for civil servants and public officials due to the steady increase in consumer goods.

Warning over tough year ahead

Data published on Saturday showed that China’s abrupt reversal of its Covid Zero policy pushed economic activity in December to the slowest pace since February 2020 as the virus swept through major cities and prompted people to stay home and busines

South African rand weakens ahead of budget, trade balance data

The government's benchmark 2030 bond ZAR2030= was higher in early deals, with the yield down 2 basis points to 10.235%.

Property developments and buying off-plan in South Africa – what you need to know

As the draft plans are not final, there may be a need for the builder and developers to deviate from the draft plans, but they will always need to seek the purchaser’s approval should the deviations impact them, the firm said.

Ugandan banks’ mixed fortunes on low economy growth, inflation

Uncertainty over the final expiry of extended credit relief measures saw some businesses struggle to recover

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